China plans new participants, derivatives in carbon trading market
China plans to add new participants to its national emissions trading scheme (ETS) and roll out derivative products as part of efforts to grow liquidity, the head of the exchange that hosts trading told the Shanghai Securities News.
The national ETS, which covers some 2,225 power companies, will be opened to financial institutions as well as emitters in sectors such as non-ferrous metal and building materials, said Lai Xiaoming, chairman of the Shanghai Environment and Energy Exchange.
Chinese Product Life Cycle Greenhouse Gas Emission factor dataset (2022) Officially Released
The Environmental Planning Institute of the Ministry of Ecology and Environment The Carbon Neutrality Research Center, together with the Ecological Environment Governance Research Center of Beijing Normal University and the School of Environmental Science and Engineering of Sun Yat-sen University, under the coordination of the China Urban Greenhouse Gas Working Group (CCG), organized 54 professional researchers from 24 research institutions to build China The set of GHG emission factors for the whole life cycle of products (2022) and all of them are made public.
"China's Product Life Cycle Greenhouse Gas Emission Factor Set (2022)" is mainly based on the basic principles and methods of "ISO 14067:2018 Greenhouse gases — Carbon footprint of products — Requirements and guidelines for quantification" to determine the full life cycle greenhouse gas emissions of products , including the entire life cycle of raw material acquisition, production, use and disposal (i.e. from cradle to grave). For the convenience of use, the whole life cycle emissions of a unit product are divided into upstream emissions, downstream emissions and waste management emissions.
The construction of "China's Product Life Cycle Greenhouse Gas Emission Coefficient Set (2022)" is based on the collection, sorting, analysis, evaluation and recalculation of public literature. There are 6 major topics, including energy products (172 articles), industrial products (378 articles) ), household products (361), transportation services (44), waste treatment (60) and carbon sinks (66), a total of 1,081. The data set includes information such as product upstream emissions, downstream emissions, emission links, greenhouse gas proportions, data time, uncertainty, references/data sources, etc.
The world's largest free trade zone officially launched
On January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) officially entered into force, marking the official landing of the world's most populous, economic and trade scale, and most potential free trade zone.
The first batch of countries to take effect include Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam and other ASEAN 6 countries and China, Japan, New Zealand, Australia and other non-ASEAN 4 countries. The RCEP will take effect for South Korea on February 1, 2022.
After the agreement takes effect, more than 90% of the trade in goods in the region will gradually achieve zero tariffs, which will help the region to form a tighter and more resilient industrial chain and supply chain.
Source: The Paper
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