China’s Power Giants Prepare for World’s Biggest Carbon Market
- Crucial data on historical emissions needs to be resubmitted
- Nation is racing to meet launch deadline amid pandemic delays
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China’s state-owned power giants have been asked to prepare reports on historical emissions that officials will use to set up the world’s largest carbon market, according to people familiar with the request.
The China Electricity Council has asked firms for submissions by July, said the people, who asked not to be identified because the information isn’t public. The council will use the data to help determine the number of carbon allowances power generators can vie for when the market launches.