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ARTICLE · 21 FEBRUARY 2017

China: The New Global Leader In Carbon Pricing?

Jones Day
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China faces many of the same problems faced by the EU's ETS.

GlobalEnergy and Natural Resources
Chris Papanicolaou
Chris Papanicolaou
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In 2017, China is expected to launch the world's largest mandatory national cap-and-trade program, also known as an emissions trading scheme ("ETS"). With an estimated quota of between three and five billion metric tons of GHG emissions, China's national ETS will be twice the size of the EU's ETS and larger than all existing carbon markets combined.

How Will China's ETS Work? China's national ETS will apply to all companies or enterprises in China that consumed at least 10,000 metric tons of coal equivalent between 2013 and 2015 in eight major industries: (i) petrochemicals; (ii) chemicals; (iii) building production and materials; (iv) iron and steel; (v) nonferrous metals; (vi) pulp and paper; (vii) power; and (viii) aviation.

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