China’s Guangdong names 239 ETS participants

BEIJING, Feb 22 (Reuters Point Carbon) - State-owned oil companies Sinopec and CNOOC are among 239 firms that face legally-binding caps on carbon dioxide emissions under Guangdong province’s emissions trading scheme.

The province of more than 100 million people is one of seven regions in China preparing pilot carbon markets as the world’s biggest polluting nation tries to get its rapidly-rising emissions under control.

On Wednesday the Guangdong Development and Reform Commission released a preliminary list of 239 companies that will be covered by the scheme, expected to be launched in September this year.

Other companies facing regulations include state-owned power companies Datang and Huaneng, building materials firm Sinoma and privately owned cement producer Tapai.

A broader group of 310 companies have been told to start reporting emissions to the government.

“We will soon have a training session with the industries, and consult with them on implementing the scheme,” said Chen Bin, an official with the Commission’s climate change department.

The government hopes to hand out emission permits to scheme participants next month, although patchy data on historical emissions might hit allocation plans.

Companies that emit more CO2 than they have permits to cover will have to buy permits from other firms in the market or else face penalties from the government.

Meanwhile, the government of Hubei province announced Friday it has adopted an implementation plan for its market, which it expects to begin in August.

By Kathy Chen - This e-mail address is being protected from spambots. You need JavaScript enabled to view it and Stian Reklev - This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

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