Beijing implements quota management for over 900 key units with annual carbon emissions exceeding 5000 tons

According to the Beijing Municipal Bureau of Ecology and Environment, nearly 1300 units in industries such as petrochemicals, manufacturing, heating, transportation, and services with an annual energy consumption of 2000 tons or more of standard coal have been included in the management of Beijing's carbon market. Among them, more than 900 key carbon emitting units with an annual carbon emission of over 5000 tons have been subject to quota management, and carbon emission quotas can be traded. The online transaction price of quotas has steadily increased, reflecting the market principle of "carbon emissions have costs, carbon reduction has benefits", and the carbon emissions of key areas and enterprises have been effectively controlled.

The person in charge of the Climate Change Response Department of the Beijing Municipal Bureau of Ecology and Environment introduced that since its opening in 2013, the Beijing carbon market has formed a relatively complete market system, and has achieved significant results in top-level institutional design, infrastructure construction, data quality management, and other aspects. The operation is stable and effective, and it has played a good role in promoting carbon reduction and green low-carbon development, and has also contributed Beijing experience to the construction of the national carbon market.

In terms of policy system, the Beijing carbon market has established a "1+1+N" policy system. The first "1" was the decision issued by the Standing Committee of the Municipal People's Congress in December 2013 on the pilot work of carbon emission trading in Beijing under strict control of total carbon emissions; The second "1" refers to the "Beijing Carbon Emission Trading Management Measures" issued by the municipal government in May 2014 and revised in March 2024; 'N' refers to a series of supporting management systems and technical specifications, including carbon emission offsetting, paid quota bidding and repurchase, market trading and settlement rules, etc., providing institutional guarantees for the smooth operation of the carbon market.

In terms of operational support, the Beijing carbon market adopts an infrastructure support system of "two institutions and two platforms", with the Beijing Climate Change Management Affairs Center assuming the function of Beijing's carbon emission trading registration agency; The Beijing Green Exchange serves as the trading institution responsible for carbon emission trading in Beijing; At the same time, the Beijing carbon emission trading market management platform and trading platform have been upgraded and improved.

In terms of exploring innovation, since 2022, the carbon market has actively linked with the electricity market to promote the integration of green electricity. In 2024, more than 140 key carbon emitting units in Beijing will participate in green power trading, purchasing nearly 70% of the market traded green power share and becoming the absolute mainstay of green power consumption in the city. Starting from 2022, we will attempt to distribute carbon emission quotas through paid bidding. Up to now, 5 paid bidding for quota distribution have been completed, increasing market liquidity, enhancing market activity, and better reflecting the cost of carbon emissions. We have explored and established a relatively complete carbon inclusive mechanism that encourages voluntary participation of the whole society in carbon reduction. Three carbon inclusive methodologies have been released, and currently five carbon inclusive projects involving low-carbon travel, hydrogen fuel cell vehicle use, and other scenarios are in operation, with nearly 5 million users participating and approved carbon emission reductions exceeding 400000 tons.