Yueqing, a county-level city administered by Wenzhou in East China's Zhejiang province, has launched the first market for carbon trading in the Yangtze River Delta (YRD) region.
A launch ceremony on Sept 17 marks the start of trial operations of a carbon trade market in Yueqing, Zhejiang province. [Photo/Yueqing Integrated Media Center]
The market, a joint effort between Yueqing and the Shanghai Environment and Energy Exchange, began trial operation on Sept 17.
It allows for the trading of carbon emissions quotas and aims to promote reductions in greenhouse gas emissions, particularly carbon dioxide.
Thirty-seven deals, or 10,985-ton carbon quotas, were traded during the launch ceremony.
Experts hailed the move as a breakthrough in Yueqing's implementation of the national "dual-carbon" strategy – a 2030 deadline for peak emissions and a 2060 goal of net-zero emissions.
That same day, plaques were awarded to 10 local factories for their new role as "near-zero carbon" demonstration enterprises. The factories included those of Dianguang Explosion Protection Technology, Coal Machinery Group, and Jubang Group.
Yueqing Party chief Fang Hui gave instructions on how to realize the "dual-carbon" target in six regards. Efforts were called for to eliminate some high energy-consuming enterprises, build "near-zero carbon" factories, develop new-energy projects, promote carbon asset trading, explore carbon finance products, and create low-carbon demonstration application scenarios.
