{"id":87347,"date":"2024-10-15T00:00:00","date_gmt":"2024-10-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/10\/15\/china-sees-its-carbon-prices-surge-ahead-of-compliance-deadline\/"},"modified":"2024-10-15T00:00:00","modified_gmt":"2024-10-15T00:00:00","slug":"china-sees-its-carbon-prices-surge-ahead-of-compliance-deadline","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/10\/15\/china-sees-its-carbon-prices-surge-ahead-of-compliance-deadline\/","title":{"rendered":"China sees its carbon prices surge ahead of compliance deadline"},"content":{"rendered":"

China's carbon prices surged to a record CNY 103.49 (USD 14.62) per ton as industries <\/strong>face an impending compliance <\/strong>deadline<\/strong> next year<\/strong>, Bloomberg<\/a> reports, citing the National Carbon Trading Agency. The recent 2.5% hike brings the prices to a total of 35% increase since the new rules were announced earlier this year. <\/p>\n

REFRESHER- <\/strong>The <\/span>new regulations<\/a> require that power utilities secure sufficient emissions permits by year-end to cover their 2023 emissions, leading to concerns over a supply shortfall. They also expand the carbon market to include steel, cement, and aluminum, requiring around 1,500 industrial enterprises to buy carbon emission allowances (CEAs) to cover CO2 emissions from fossil fuel consumption. However, the initial phase from 2024 to 2026 will allow big amounts of gratuitous credits which could limit market participation.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Power utilities must offset emissions by next year.<\/p>\n","protected":false},"author":1,"featured_media":87348,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,98,255,11],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-carbon-markets","tag-carbon-offsetting","tag-enterpriseclimate","wpautop","entry"],"acf":{"mongo_id":"34a7e83d-b1ef-4a69-afc0-e61203704e70","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2764.jpg","photo_position":"above","homepage_title":"","full_issue_title":"China sees its carbon prices surge ahead of compliance deadline","related_issue":[87331],"teaser":"Power utilities must offset emissions by next year.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.79fa3627-dd27-43f5-b781-ad531332b700.mp3"},"yoast_head":"\nChina sees its carbon prices surge ahead of compliance deadline - 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