Carbon Trading Deals Made After Launch of Carbon Trading Program
Since the launch of the carbon trading program a few days ago, eight carbon trading deals were already made selling more than 20,000 tons of carbon emission credits in the carbon trading market. The deals were made at the Shenzhen International Low Carbon City with prices ranging from 28 yuan to 32 yuan per ton.
The Dongbu Power Plant of the Shenzhen Energy Group sold 2,000 tons of credits of emissions to Guangdong CNPC International Affairs Co. and to Hanergy Holding Group at 28 yuan and 30 yuan per ton making it the first deals of its kind in China. Shenzhen is one of the seven cities in the nation that was designated as pilot areas along with Tianjin, Beijing, Shanghai, Hubei, Chongqing and Guangdong for the carbon trading program.
Shenzhen then selected more than 600 enterprises and 200 large public construction industries to participate in the carbon trading trials. Rights to 100 million tons of carbon emissions are allocated to these enterprises in the span of three years. Carbon trading is a emission trading program that targets carbon dioxide and constitutes the bulk of emission trading. This permit trading is a common method used by countries in order to meet their obligations of the Kyoto Protocol which is the reduction of carbon emissions to reduce climate change.