China’s National Carbon Market Trading Volume Exceeds 930 Million Tonnes

Dragon Media News Desk

The cumulative trading volume of China’s national carbon emissions rights trading market had exceeded 930 million tonnes by the end of July, Minister of Ecology and Environment Huang Runqiu said on Thursday.

Speaking at a press conference, Huang said the national carbon market has helped industries reduce emissions at comparatively lower costs while making a significant contribution to China’s green and low-carbon transition.

Under the carbon emissions trading system, companies that emit less than their allocated quota can sell unused allowances, while those exceeding their limits must purchase additional allowances.

The market-based mechanism is designed to provide economic incentives for companies to cut emissions and improve efficiency.

China has continued to expand the national carbon market as an important policy instrument for controlling emissions, upgrading industrial structures and advancing green development.