WWF welcomes China’s national carbon emission trading system | WPN World People News

China’s nationwide carbon emission trading system, launched on 19 December, marks an important step toward promoting a low carbon transition in the world’s leading emitter of CO2, according to WWF.

Szeping LO, CEO of WWF-China, says the emissions trading system (ETS) could provide new impetus for China’s low carbon development and the country’s transition toward a low carbon economy by helping align its potential with commitments under the Paris Agreement.

“The ETS should be consistent with China’s climate plan targets, and contribute to the implementation of Paris Agreement. An allowance allocation approach should make a gradual shift from free to auction, leading to more climate actions and greater investment in clean technologies,” he said.

According to China’s Future Generation 2.0 report in 2015, around 84 per cent of China’s electricity generation can be met by renewable sources by mid-century if appropriate policies are put in place.

“An energy transition to renewables is economically feasible in the Chinese power sector. We hope the national carbon market meets its potential and provides a new and powerful push toward energy efficiency improvement and renewable development in power sector,” Szeping added.

WWF is working toward helping accelerate the energy transition in China through policy research, pilot practice and international cooperation.

Source: World Wildlife Fund