CHINA is planning to introduce a nationwide carbon emissions trading system (ETS) in 2021, spurred by President Xi Jinping's recent announcement of a 2060 carbon-neutrality target, to be achieved through market-based mechanisms. People familiar with the planned ETS said the country is now working hard to put in place different aspects of the new scheme including legislation, trading platforms and market oversight, in time for an official launch in the first half of 2021. In its initial phase, the ETS could cover 2267 power plants responsible for annual carbon dioxide emissions of a minimum 26,000 tonnes, according to public consultation documents issued in late December by the Ministry of Ecology & Environment.
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