China: ETS expected new sector coverage

Projected inclusion of additional industries to the emissions trading system (ETS) in China from 2024 to 2028

Characteristic	By 2024	Between 2025-2028	Beyond 2028	Don't expect cover	Unsure
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Release date

May 2023

More information

Region

Worldwide

Survey time period

April 5 to April 28, 2023

Number of respondents

187 IETA member respresentatives**

Special properties

Some figures do not total 100% due rounding

Method of interview

Online survey

Supplementary notes

The question was originally phrased as "The Chinese ETS launched in 2021, becoming the world’s largest ETS, covering over 4bn tCO2 in the power sector. When do you expect the following additional industries to be covered by the Chinese ETS (if at all)?
* Survey participants were given the freedom to select which sections and topics they answered, and therefore some statistics are based on samples smaller than 187. Survey respondents represent several sectors, including finance and investment, power producers/utilities, and oil and gas.

Citation formats

The China emissions trading system (ETS) was launched in 2021 and covers roughly *** billion metric tons of carbon dioxide emissions, making it the biggest carbon market in the world based on coverage. As of 2023, the China ETS covered only power sector emissions, but more sectors and industries are expected to be included in the coming years. The petrochemical sector was seen as the most likely to be covered next, with ** percent of International Emissions Trading Association members expecting this to occur by 2024. The steel and non-ferrous metals sectors were expected to follow as the most likely to be included by 2024. The China ETS currently runs alongside regional pilot systems, but these are gradually transitioning to the national system.