Abstract The start-up time of the national carbon trading market is getting closer and closer, and the initial quota allocation scheme called key elements has also surfaced in the long-awaited way. On May 21, the Beijing Business Daily reporter learned from the industry that the carbon quota was called the most critical step before the start of the national carbon trading market...
The start of the national carbon trading market is getting closer and closer, and the initial quota allocation scheme, called the key element, has surfaced in the long-awaited way. On May 21, the Beijing Business Daily reporter learned from the industry that the carbon quota allocation plan, which is called the most crucial step before the start of the national carbon trading market, has finally taken shape. According to the “National Carbon Trading Market Quota Allocation Plan (Discussion Draft)†published at the Carbon Quota Distribution Trial Training Conference, the allocation of quotas for the power, cement and electrolytic aluminum industries is intended to define the overall line of thought and pre-allocation. The national industry benchmark determined by the National Development and Reform Commission, the local industry adjustment coefficient determined by the local development and reform commission, and the actual production output of the enterprise in the current year, the product of these three variables is the enterprise quota. Moreover, the quota is not issued at one time, but a certain percentage of the quota is issued first. The actual quota is refunded after the accounting. At present, the discussion draft tentatively sets the pre-allocation ratio of the power industry to 70%, and cement and electrolytic aluminum to 50%. Specifically, for the specific carbon quota allocation standard, the National Development and Reform Commission will clearly determine the baseline method. It is reported that the benchmark value is determined on the basis of collecting different emission levels of the same unit or production line in the same industry, taking into account factors such as national emission reduction targets, industry quota gaps, and enterprise stress test simulation results. The local industry adjustment factor can only be less than or equal to 1, which means that the local benchmark can only be stricter than the country. This means that when initial quotas are allocated to localities, the carbon emissions per unit of product are above the baseline, and the more products produced, the greater the quotas obtained; companies below the baseline need to increase investment to allow units The emission of the product is higher than the baseline, otherwise the carbon emission right should be purchased from the market for each product produced, or it can only be withdrawn from the market. “Only some special industries, such as cogeneration, will implement the carbon intensity method in stages during the carbon credit allocation process, but the ultimate goal is to implement the baseline method.†National Development and Reform Commission, Department of Climate Change Chang Jiang Zhaoli said.
In the industry view, the quota allocation scheme proposed in the discussion paper is very detailed and has strong operability, but there is still room for adjustment. Take the power industry with the largest share of quotas as an example. At present, it can not be seen from the plan that the distribution method is to achieve the total target, or to achieve the uniformity of the abatement cost among industries.
According to the plan, this year China will launch the national carbon emission trading market and officially expand the pilot transaction to the whole country. In the industry's view, the most critical job before the national market opened is how to allocate the initial carbon allowance. However, it has been difficult to form a unified opinion on the quota allocation standards and methods in the industry. Some experts even said that this may become the national market before the start. The biggest obstacle. Previously, there was a view that relevant departments could refer to the principle of differential treatment of developed countries and developing countries in the Kyoto Protocol, and lean more to areas with relatively poor bases and higher emissions, while areas with relatively stricter governance. Something was tightened, but shortly afterwards, Jiang Zhaoli publicly denied this view. "The western region and other regions should develop, but they should be supported by transfer and other means. As far as the carbon market is concerned, it must be a national unified standard. Otherwise, this market will have no meaning." Jiang Zhaoli said.
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