beijing launches paid bidding for carbon emission quotas, with a unified transaction price of 104.89 yuan per ton
2024-09-13
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recently, the beijing municipal ecology and environment bureau organized the paid bidding and issuance of beijing's 2023 carbon emission quotas, and entrusted the beijing green exchange, a beijing carbon emission trading institution, to implement it. the bidding process was completed on september 2. during this period, a total of 68 key carbon emission units submitted bidding applications, 63 units successfully bid, with a transaction volume of 348,304 tons, a unified transaction price of 104.89 yuan/ton, and a total transaction amount of 36.5336 million yuan. the proceeds from the bidding will be turned over to the state treasury according to procedures.
according to the relevant person in charge of beijing municipal ecology and environment bureau, in march 2024, beijing revised and issued the "beijing carbon emission trading management measures" to improve and standardize carbon emission trading and related activities, which clearly stated that the municipal ecological environment department can issue carbon emission quotas in two ways: free and paid. carbon emission trading means that carbon emission rights are also traded in the market, and prices are discovered through market mechanisms, reflecting the concept of "carbon emission has costs, carbon reduction has benefits", so as to stimulate the motivation of carbon emission units to reduce carbon emissions.
the municipal ecological environment department shall review and confirm the carbon emissions of key carbon emission units under management on an annual basis according to the publicly released rules, and issue free carbon emission quotas to each key unit in accordance with the prescribed method. key emission units need to hand in carbon emission quotas equivalent to their annual carbon emissions within the prescribed time limit. if key emission units improve their energy efficiency, technological transformation and other measures to make their annual carbon emissions lower than the free quotas they have obtained, they can sell the surplus quotas on the carbon market to obtain income; units with insufficient carbon emissions can also complete their carbon emission quota payment obligations by purchasing quotas on the market.
beijing's carbon market has been operating smoothly for 11 years. it is generally standardized and orderly, and carbon prices have been rising steadily. market players may also engage in behaviors such as "reluctant to sell" and "bullish". in order to ensure the smooth and healthy operation of the carbon market, increase the activity of the carbon market, and provide alternative solutions for key carbon emission units that have difficulties in completing quota clearance, the ecological environment department will organize paid bidding to release a certain amount of carbon emission quotas to the market from time to time as needed. units that meet the purchasing entity qualifications can conduct quota bidding in accordance with the relevant contents of the paid bidding work notice.
"if the carbon price is too low, the ecological and environmental department will also adjust the market price and maintain market order through repurchase and other means within the quota adjustment range as needed." said a relevant person in charge of the beijing municipal ecology and environment bureau.
since 2022, beijing has carried out four paid quota bidding and issuance based on the operation of the carbon market, providing a price reference for key carbon emission units that have surplus quotas to sell and need to purchase quotas to complete compliance and settlement, and giving play to the role of market mechanisms in promoting the control of greenhouse gas emissions and green and low-carbon development.
