ESG & Investing
China to Compel New Sectors to Join Carbon Market by End-2025
- Steel, aluminum, cement to be added to mandatory market
- ETS currently covers power but prices, activity are low
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China plans to impose carbon-trading compliance obligations on steel, aluminum, and cement producers next year as the country extends its carbon market to compel more polluting sectors to slash emissions.
About 1,500 companies in those industries will be subject to market-based carbon costs from next year if their emissions overshoot government-set targets, according to a consultation paper issued by the Ministry of Ecology and Environment.