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BREAKING
The Israeli Walla! website: We are running out of stockpiles, our forces are exhausted, and the lives of the captives are in danger. It is time for a ceasefire deal in Gaza.
Several wounded in an Israeli bombardment of a tent in al-Mawasi, south of Khan Younis in the Gaza Strip.
Israeli media: Three wounded, three killed in an ongoing operation in the Gaza Strip.
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis
Al-Qassam Brigades: A NIMR armored personnel carrier carrying an Israeli soldier was targeted with an Al-Yassin missile north of Khan Younis
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes

China Sells Almost $65M Worth of CO2 Emission Quotas

  • By Al Mayadeen
  • Source: Agencies
  • 26 Sep 2021 15:04
2 Min Read

China has sold $64.6 million worth of CO2 and greenhouse gases emission quotas to companies over a span of two months. 

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  • China Sells Almost $65M Worth of Carbon Dioxide Emission Quotas
    The release of carbon emissions is increasingly monetized in China. 

According to the Head of the Climate Change Department at the Chinese Ministry of Ecology and Environment, Li Gao, China has sold 418 million yuan (approximately $64.6 million) worth of carbon dioxide emission quotas to companies over a span of two months. 

To promote less pollution - low carbon and 'greener' policies - China launched the Emission Trading System (ETS) in 2016 which sets limits, or gives quotas, for just how much a company can emit CO2 and greenhouse gases. According to a report by South China Morning Post, the carbon trading scheme may be able to reduce emissions by 30-60% by the year 2060. 

In a conference at the International Institute of Green Finance at the Central University of Economics and Finance in Beijing, an official said: "As of September 23, the national emissions trading scheme saw contracts for carbon emission quotas amounting to 8.48 million tons [being sold for] a total amount of 418 million yuan."

Since the launch of the market, prices have experienced stability: the opening price stood at $7.40 per ton of CO2. Gao remarked that the prices have been reasonable and bounded by limits. 

According to Chinese media and the Ministry of Ecology and Environment, over 2000 electricity generating companies are responsible for the release of 4 billion tons of carbon dioxide into the environment on a yearly basis. These same companies are granted access to ETS in order to manage emissions. 

  • Emission Trading System
  • carbon emissions
  • China
  • Greenhouse gases

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