China Carbon Deng: Steel, cement, and electrolytic aluminum industries are ready for expansion

The third anniversary of the launch of the National Carbon Emissions Trading Market (hereinafter referred to as the National Carbon Market).

The relevant person in charge of Carbon Emissions Registration and Settlement (Wuhan) Co., Ltd.(hereinafter referred to as China Carbon Deng) introduced that in the three years since the launch of the national carbon market, as more emission reduction technologies and measures have been fully applied, the overall emission reduction costs of the national power industry have been reduced by approximately 35 billion yuan. The closing price per ton of carbon dioxide rose from more than 40 yuan at the beginning of the opening session to around 90 yuan, and the historical high of carbon prices once exceeded 100 yuan.

Zhu Guohui, general manager of Carbon Emissions Registration and Settlement (Wuhan) Co., Ltd., said in an interview with media including "Environmental Economics" magazine at the China Carbon Market Conference 2024 that this year, the country will further expand the industry coverage of the national carbon market., it is expected that the steel, cement, and electrolytic aluminum industries will also be included in the national carbon market.

Carbon Emissions Registration and Settlement (Wuhan) Co., Ltd.General Manager Zhu Guohui

According to reports, China Carbon Corporation has planned in advance, studied in advance, and prepared in advance from the following three aspects to ensure that relevant requirements for industry expansion can be met at any time.

The first is to plan the expansion of the basic platform in advance. Complete the expansion of the main and sub-data centers and the expansion of settlement channels, fully connect with the national carbon market management platform, trading system and CCER system, and ensure that the system has the resources to carry multiple industries.

The second is to continue to expand and upgrade system functions. Comprehensively optimize functions such as quota trial calculation, data analysis and risk warning, which can not only flexibly adapt to specific needs such as allocation plans and adjustment trial calculations of various industries, but also provide data support for more accurate industry expansion assessment, policy formulation and industry guidance.

The third is to continuously improve the business service system. The "National Carbon Market Directory Management Work Procedures" and the third compliance cycle account opening work plan have been formulated, a capacity building service network covering more than 20 provinces has been established, and a "one-on-one, one-stop" service plan has been established.

In the future, with the further improvement of coverage and institutional mechanisms, the important role of the national carbon market in helping to control emissions and reduce emissions and green development will become more prominent. Zhu Guohui said that as an important policy tool for my country to achieve the "double carbon" goal, China Carbon Corporation will continue to deepen platform construction, innovate service mechanisms, extensively carry out international and regional "double carbon" development exchanges and cooperation, and demonstrate a global image. Contribute to accelerating the construction of a more effective, dynamic and internationally influential carbon market.