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2022 年中国碳定价调查

公用事业 2023-07-21 美国环保协会落枫

Executive Summary

The 2022 China Carbon Pricing Survey, conducted during October and November 2022, aimed to gather insights on future carbon pricing policies in China from stakeholders across carbon-intensive industries. With a focus on understanding perceptions about China's national carbon market and the impact of carbon pricing on investment decisions, the survey included responses from 465 participants across various sectors.

Key Findings:

China's Carbon Market Progress

Eight Regional Markets: Launched between 2013 and 2016, experimenting with diverse aspects such as allocation mechanisms, sector coverage, and use of offsets.
National Carbon Market: Announced post-Paris Agreement in 2015, with formal regulation by the Ministry of Ecology and Environment (MEE) in February 2021. The national market initially focused on the power sector, expanding to include other key emitting sectors over time.
Initial Launch: July 2021 saw trades commence on the Shanghai-based national carbon emissions exchange platform at a rate of 48 CNY per tonne.
First Compliance Cycle: Ended on December 31, 2021, covering approximately 2,162 power sector enterprises with GHG emissions totaling around 4.5 billion tonnes annually.

Respondent Insights

Power Sector: The majority of respondents (38%) were from power generation companies. A notable increase was observed in expectations for needing to purchase allowances in the market, rising from 26% to 41% compared to the previous year.
Sector Readiness: The cement and iron and steel sectors are seen as more prepared to join the national carbon market by 2023, with the weighted average expectation suggesting both sectors will be part of the market by 2024.
Investment Impacts: Respondents anticipated a significant increase in the influence of carbon pricing on investment decisions.

Additional Developments

Allowance Allocation Plan: A new draft plan for allowance allocation for 2021 and 2022 emissions was released by the MEE in November 2022, indicating continuation of a two-year compliance cycle for power sector enterprises until December 2023.
Monitoring, Reporting, and Verification Guidelines: Updated guidelines were issued by the MEE for the power sector's emissions, aiming to enhance the quality of carbon emission data.
CCER Regulation: While a notification was issued in November 2021 permitting the use of previously issued Certified Emission Reductions (CCERs) to offset allowances, the fully amended CCER regulation is anticipated to be released in 2023.

Conclusion

The survey provides valuable insights into the evolving landscape of China's carbon pricing policies, highlighting the increasing expectations for carbon pricing impacts on investment decisions and the growing readiness of industries to engage with the national carbon market.

Abstract This report summarises the results of the 2022China Carbon Pricing Survey. The survey elicitedexpectations about the future of China’s carbon pricing policiesfrom stakeholders in carbon marketsin China duringOctober andNovember 2022. Through cooperation with industrial associations, theprojectteam reached a wide range of representatives from China’s carbon-intensive industries whichare already subject to or are soon expected to be subject to carbon pricing, in particular the powersector whichwasthe first to be covered by China’s nationalcarbonemissions tradingmarket.Thecementsectorandtheiron and steel sector stand out in terms ofthoseperceivedas thenext mostready for coverage by thenationalcarbon market, with the weighted average being that thosetwosectors will have joined by 2024.Over 40% of power sector respondents expect that their companywill need to buy allowances in the market to meet their compliance needs for the second period.Thesurvey results give strong confidence that carbon price levels in China will rise over time, and thatcarbon pricing will increasingly affect investment decisions. There is strong confidence that China willpeakitscarbon emissionsbefore2030, as pledged by President Xi Jinping in September 2020. Keywords Carbon pricing, emissions trading, carbonmarket, public policy, stakeholder survey, China Suggested Citation Slater, H.,Shu, W.,Li, R.,2022,2022China Carbon Pricing Survey,February2023, ICF, Beijing Acknowledgements: The survey was conducted by ICF. It received funding support fromEnvironmental Defense Fund,Energy Foundation and the Norwegian Environment Agency. The authors would like to thank all theotherorganisations and individuals who have contributed to make this report possible. We are grateful for the following sector associations and their representatives for assisting withdissemination of the survey questionnaire:China Electricity Council, ChinaNon-ferrous MetalsIndustry Association, China Building Material Group, China Building Material Federation, ChinaMetallurgicalIndustryPlanning and Research Institute and China Petroleum and Chemical IndustryAssociation. The survey implementationandproject managementwere supported substantially byJessica Jia, ICF. China Carbon Forum (CCF) initiated thesurvey in2013,together with ProfessorFrankJotzoatAustralianNationalUniversity,and managed the implementation of each subsequent survey up until2020.The support of CCF’s General Manager Peter Edwards has been invaluableover a number ofyearsand the authors are grateful for it. Table of Contents Table of Contents.........................................................................................................................................IIIExecutive Summary.......................................................................................................................................VIntroduction..................................................................................................................................................1Update on carbon emissionstrading in China..............................................................................................3Survey respondents......................................................................................................................................7National emissions trading system.............................................................................................................11Carbon price expectations..........................................................................................................................20Voluntary carbon market/offsets...............................................................................................................24Readiness for emissions trading.................................................................................................................27Impacts of carbon pricing on investment...................................................................................................32Carbon border adjustments........................................................................................................................35Project implementers..................................................................................................................................36Project funders............................................................................................................................................36 Acronyms: CCERChina Certified Emission ReductionCDMClean Development MechanismCNYChinese YuanCO2Carbon DioxideETSEmissions Trading SystemGDPGross Domestic ProductGHGGreenhouse GasesMEEMinistry of Ecology and EnvironmentMRVMonitoring, Reporting andVerificationNDRCNational Development and Reform CommissionTCETons of CoalEquivalenttCO2Tons of Carbon Dioxide Executive Summary The2022China Carbon Pricing Surveywas undertaken duringOctober andNovember 2022, obtainingexpectat

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