The national carbon market is expected to start next year, and high-energy industries will be gradually included.

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The national carbon market is expected to start next year, and high-energy industries will be gradually included.

Text | Financial reporter Xu Peiyu

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From 20 17, the construction of the national carbon emission trading market entered the final stage.

165438 10. On 2 October, the Ministry of Ecology and Environment issued two drafts for comments, namely, the Measures for the Administration of National Carbon Emissions Trading (Trial) (hereinafter referred to as the Administrative Measures) and the Measures for the Administration of National Carbon Emissions Registration Trading Settlement (Trial) (hereinafter referred to as the Settlement Measures). The time for soliciting opinions on management measures is 65438+February 2020 1, and the time for soliciting opinions on settlement measures is 1 65438+2020 10/.

The two exposure drafts disclose the basic operating rules of the national carbon emission trading market. The main bodies included in the management of the national carbon emission trading market are: enterprises or other economic organizations with annual greenhouse gas emissions of more than 26,000 tons of carbon dioxide equivalent, and products traded in the national carbon emission trading market are products such as carbon emission quotas.

Many insiders told Caijing that the operation of the national carbon market needs to be refined and the hardware facilities need to be improved. The initial operation of the national carbon market will only be included in the thermal power industry, and the trading scope only includes carbon dioxide, a greenhouse gas.

"The direction of efforts now is to achieve transactions next year, and some large enterprises are also preparing for starting transactions next year." Li Dan, director of the business department of Chuangchuang Carbon Investment Company, a carbon market consulting and investment institution, told Caijing reporter.

At present, it seems that the national carbon market is expected to start substantive operation before the end of next year. By then, new energy enterprises can sell their reduced carbon emissions to thermal power enterprises to help them achieve their carbon emission reduction targets. After the carbon market includes more industries, there will be more similar transactions.

According to the current trading standards, the amount of carbon reduction that wind power and photovoltaic enterprises can sell can bring 1.3-7.4 cents per kWh.

The management measures issued this time propose that key emission units can use the national certified voluntary emission reduction (CCER) or other emission reduction targets separately announced by the Ministry of Ecology and Environment to offset their approved emissions by no more than 5%. 1 CCER can offset 1 ton of carbon dioxide equivalent emissions. CCER used for offset should come from emission reduction projects in the fields of renewable energy, carbon sink and methane utilization. And produced outside the boundaries of key emission units in the national carbon emission trading market.

This means that the Administrative Measures confirm that the CCER offset mechanism is an important part of the carbon emissions trading system. Photovoltaic, wind power and other emission reduction projects can reduce their carbon dioxide emissions and sell them in the national carbon market to obtain economic benefits.

The full name of CCER is China certified emission reduction, which means China certified emission reduction.

According to the Interim Measures for the Administration of Greenhouse Gas Voluntary Emission Reduction Transactions, the emission reductions involved in voluntary emission reduction need to be registered in the relevant transaction register of the competent national department, and the registered emission reductions are called "certified voluntary emission reductions". In other words, CCER needs to be approved and certified to enter the carbon market.

The Interim Measures for the Management of Greenhouse Gas Voluntary Emission Reduction Trading was promulgated and implemented on June 12, and the CCER project began to be approved. Due to the small transaction volume of CCER and the lack of standardization of individual projects, the application for filing CCER projects was suspended from March 2065438 to March 2007. At the same time, the National Development and Reform Commission, the competent department at that time, said that it would revise the relevant provisions of the Interim Measures for the Administration of Greenhouse Gas Voluntary Emission Reduction Trading.

The above-mentioned exposure draft released this time said that the management regulations for CCER will be introduced separately. However, the revision progress of the Interim Measures for the Administration of Voluntary Emissions Reduction Trading of Greenhouse Gases is still unknown.

There are still many uncertainties about the details of CCER's approval of the restart and transaction. Long Yuan Carbon Assets, a subsidiary of National Energy Group, launched the first CCER project development and transaction in China. The relevant person in charge of the company told Caijing that the industry has restored confidence in CCER trading, but there is still no timetable for when the specific implementation rules will be introduced, hoping to introduce them as soon as possible. Combined with the carbon market demand and the supplementary positioning of CCER, it is expected that the CCER projects approved in the future will be limited.

According to the data provided by the relevant person in charge of Longyuan Carbon Assets Company, 49.8 million tons of ccer have been distributed nationwide, and the CCER that can meet the offset demand of each pilot carbon market is only about 6.5438+0.5 million tons. However, the annual carbon emission quotas in the pilot areas far exceed this figure, such as Hubei and Guangdong, with annual quotas exceeding 200 million tons.

The approved CCER spot can be traded many times in the carbon market of the experimental area before it is cashed. According to the calculation of Wang Shujuan, the founder of Zhihui Photovoltaic, an information organization, according to the current CCER trading standard, wind power and photovoltaic projects can bring 1.3-7.4 cents per kWh by trading CCER.

The industry believes that CCER's enthusiasm for trading in the national carbon market should be greatly improved. There are two influencing factors: one is to tighten the emission baseline of thermal power enterprises and increase their demand for CCER; The second is to increase the industries that are included in the carbon market and increase the number of controlled enterprises.

On February 20 17, the Construction Scheme of National Carbon Emission Trading Market (Power Generation Industry) was issued, which was the symbol of starting the construction of national carbon market. The plan is clear, in the initial stage of the national carbon market operation, only the carbon emissions of the thermal power generation industry will be controlled.

At present, it seems that the national carbon market will implement a flexible total control model in the initial stage, and the quota will be allocated by the baseline method, which will not limit the output of the managed enterprises, that is, the total emission will not be limited. At present, the carbon market emission benchmark value of thermal power enterprises in China has not yet been released, and the emission quota issuance standards of enterprises in various places have not yet been determined.

The industry believes that the emission benchmark value of coal-fired power units will definitely be tightened by the competent authorities year by year, which will promote the demand for emission reduction and purchase of CCER.

Zhang Xin, chief economist of the National Center for Strategic Research and International Cooperation on Climate Change of the Ministry of Ecology and Environment, believes that the adoption of elastic aggregate in the national carbon market is a short-term measure to deal with the contradiction between economic development and carbon emission reduction. The essence of carbon trading is trading under total control. In order to strengthen the emission reduction effect of carbon trading mechanism, we should study and determine the total emission quota of carbon market as soon as possible and optimize the benchmark standards.

Eight provinces and cities in China, including Beijing, Shanghai, Tianjin, Chongqing, Hubei, Guangdong, Fujian and Shenzhen, have launched carbon trading pilot projects. In addition to thermal power enterprises, some pilot areas also include enterprises in the fields of transportation and aviation. After the operation of the national carbon market, the carbon market in the pilot areas will continue to operate in the short term. The difference is that the carbon emission quota trading of thermal power enterprises is carried out in the national market, and the carbon market of other industries continues to operate in pilot places.

On the basis of the pilot areas, the national carbon market will take the opportunity to increase the industries included in the carbon market. But there is no timetable at present.

2065438+May 2007, during the trial period of quota allocation in Jiangsu and Sichuan provinces, the first draft of quota allocation scheme for power generation, electrolytic aluminum and cement industries was published. Li Dan said that during the Tenth Five-Year Plan period, other mature industries with high energy consumption, such as electrolytic aluminum and cement, are also expected to be gradually included.

According to the data disclosed by the Ministry of Ecology and Environment, as of August 2020, the carbon market in the pilot provinces and cities covered more than 20 industries such as steel, electricity and cement, with nearly 3,000 enterprises, with a cumulative turnover of over 400 million tons and a cumulative turnover of over 9 billion yuan.