TIANJIN, July 17 (Xinhua) — North China’s Tianjin Municipality has seen transactions for a total of 8.56 million tonnes of carbon emissions allowances in the first half of 2021, with a turnover of 253 million yuan (about 39 million U.S. dollars), according to the local carbon trade exchange.
The city’s total trading volume accounted for 23 percent of all regional carbon markets in China during the period, remaining in second place across the country, according to the Tianjin Climate Exchange.
Last year alone, the city’s carbon market handled approximately 29.09 million tonnes of carbon emissions allowances, ranking second in China.
As of July 1, 104 enterprises included in Tianjin’s carbon emissions trading pilot program in eight industries — electricity and heating, steel, chemicals, petrochemicals, oil and gas exploitation, building materials, papermaking, and aviation — have completed the annual implementation of their 2020 carbon emissions trading contracts.
One of China’s first comprehensive environmental energy trading institutions, the exchange serves as an international trading platform to promote energy conservation and emissions reduction through market-based means and financial innovation.