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China's Carbon Trading Market to Encompass Steel and Aluminum Sectors

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China ニュース

Carbon Trading,Emissions Trading,Steel Industry

China is expanding its national carbon trading market to include steel, aluminum, and cement industries by the end of 2024, aiming to reduce emissions and prepare for the EU carbon border tax.

Via Metal Miner It has been in the works for some time now. China is finally all set to add industrial metal sectors like steel and aluminum as well as cement to its national carbon trading market. According to media reports, the change will happen by the end of 2024. Essentially, this means domestic steel, aluminum and cement producers will soon have to pay more for their carbon emissions.

Several other Asian and Latin American countries have set up or are in the process of setting up carbon credit markets. According to a report on global greenhouse gas emissions by the International Carbon Action Partnership ICAP, these nations see this marketplace as crucial to helping them attain their domestic climate objectives.

 

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