At the \u201cHigh-Level Forum on the Future Path of China\u2019s Carbon Market\u201d held this month, Cui Jindu, member of the Standing Committee of the Tianjin Municipal Party Committee and Vice Mayor, said that Tianjin has made remarkable achievements in all aspects of comprehensively promoting integrated supporting reforms and energy conservation, emission reduction and low-carbon economic development, and has completed the national assessment of the \u201cEleventh Five-Year Plan\u201d energy conservation and emission reduction targets one year ahead of schedule.<\/p>\n\n\n\n
In 2010, Tianjin continued to accelerate the development of a low-carbon economy. The Tianjin Municipal Government issued the \"Tianjin Climate Change Response Plan,\" completed a general survey of greenhouse gas emissions, and proposed a target and measures to reduce carbon dioxide emissions per unit of CDP from fossil fuel combustion by 15.5% over the next five years. Based on completing the national assessment of the \"Eleventh Five-Year Plan\" energy conservation and emission reduction tasks one year ahead of schedule, the \"Twelfth Five-Year Plan\" energy conservation and emission reduction targets were established.<\/p>\n\n\n\n
Tianjin has consistently been at the forefront of the country in the development of its carbon trading market.<\/p>\n\n\n\n
Cui Jindu explained that the Tianjin Municipal Government has promulgated policies and regulations governing the emissions trading market, including rules for exchange operations, membership management, registration and settlement, and exchange supervision. The municipal government organized relevant departments and the exchange to formulate a comprehensive pilot program for emissions trading of major pollutants, promulgate an implementation plan for energy efficiency trading in civil buildings and a contract energy management trading plan, and develop contract energy management trading and consulting service products. The exchange completed the first batch of sulfur dioxide transactions based on the internet, the first energy efficiency product transaction based on national civil building energy efficiency standards, and the first contract energy management project transaction.<\/p>\n\n\n\n
The Tianjin Emissions Exchange has developed an electronic trading network system and an electronic disclosure and inquiry system for voluntary greenhouse gas emission reductions. It adopts trading methods such as real-time bidding and listing transfer to provide project information disclosure and inquiry services for every ton of voluntary greenhouse gas emission reductions listed online.<\/p>\n\n\n\n
Regarding the exchange's phased achievements, projects such as the Gansu Datonghe Tiecheng Hydropower Station Project, the Xinjiang Dabancheng Wind Power Phase I Project, the Fujian Shunchang Yangkou Hydropower Station Project, and the Gansu Yellow River Chaijiaxia Hydropower Station Project have been listed. The exchange conducts carbon disclosure, carbon reduction, carbon neutrality, and carbon inventory in accordance with international standards and norms; develops voluntary carbon reduction trading products and Clean Development Mechanism (CDM) project consulting services; completed corporate carbon neutrality trading for Jifeng Group; provided carbon neutrality and services for the 2010 National Committee of the Chinese People's Political Consultative Conference (CPPCC) 21st Century Forum, the United Nations Framework Convention on Climate Change and the Kyoto Protocol Working Group Meeting, and the first High-Level Forum on Low-Carbon Finance hosted by the People's Bank of China and the Tianjin Municipal Government; provided comprehensive CDM project development services for the CNPC Qinchen Line natural gas-oil substitution project; and launched the TEDA Low-Carbon Household Carbon Reduction Exchange Trading Model.<\/p>\n\n\n\n
After nearly two years of construction, the first phase of infrastructure and environmental remediation projects in the Sino-Singapore Tianjin Eco-City have been completed and put into use. Industrial parks such as the National Animation Industry Comprehensive Demonstration Zone are under full construction, and a number of enterprises have already moved in, making it the first environmental protection, energy conservation, emission reduction and low-carbon demonstration city.<\/p>\n\n\n\n
During the Davos Forum this September, Cheng Siwei, former Vice Chairman of the Standing Committee of the National People's Congress, revealed that a \"Green Finance Research Center\" dedicated to providing environmental and economic experience for the entire country will be established in Tianjin. Cheng Siwei stated, \"China is committed to promoting carbon emissions trading, and the key is to develop a carbon trading market suitable for its own needs. Some negotiations are underway in Tianjin, with the hope of establishing a green finance research center in the future.\"<\/p>\n\n\n\n
China has a huge carbon emissions market, currently accounting for 30% of global carbon emissions, while its carbon finance market is still in its infancy. In the international market, carbon trading products are becoming increasingly diverse, ranging from emission rights to carbon futures and options, all of which have emerged in mature carbon markets in Europe and the United States. Domestic financial institutions currently focus primarily on financing low-carbon projects, mainly through various green loans and environmental loans.<\/p>\n\n\n\n
Cheng Siwei pointed out that the \"research center\" is still in the negotiation stage, but it will solve two main problems. First, we need to have our own green economy agency. Without this agency, one ton of carbon sells for 9 euros, while in the European market, the price for the same weight is 12-15 euros. Second, we need to establish our own carbon trading market. The task of the Green Finance Research Center is to explore \"how to establish this market\".<\/p>\n\n\n\n
Furthermore, at the Ninth APEC Energy Ministers' Meeting held in June this year, the APEC Low-Carbon Demonstration Town Project, jointly initiated by China and Japan, was adopted, and the Yujiapu Financial District of Tianjin Binhai New Area in China was finally identified as the world's first \"Low-Carbon Demonstration Town\" within the APEC framework. Yujiapu became the first low-carbon demonstration project jointly confirmed by 21 member countries.<\/p>\n\n\n\n
Source: China Daily Tianjin<\/p>","protected":false},"excerpt":{"rendered":"
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