China: Beijing launches world"s largest carbon trading market - FM spox

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China has officially opened online trading in its national carbon market, a spokesperson for the Chinese Foreign Ministry announced Friday in Beijing.

“It will become the world’s largest in terms of the amount of greenhouse gas emissions covered. This will give new impetus and confidence to global cooperation in tackling climate change and provide a reference for other countries and regions globally,” spokesperson Zhao Lijian said.

Zhao added that “carbon emissions by the companies covered in the first batch of trading are estimated to exceed 4 billion tonnes,” as the market was launched on Friday.

China’s market involves so far 2,200 companies in the power sector. Experts fear it will take years for the system to make a difference in helping the country decrease its emissions.

The spokesperson also touched on the origins of the novel coronavirus after the World Health Organisation chief urged China to be more transparent in providing raw data regarding the first days of the spread of COVID-19.

“Tracing back to the source is a scientific issue, and all parties should respect the opinions of scientists and scientific conclusions and should not be politicised,” said Zhao, adding, “We should continue to look for possible early cases around the world. We also should better understand the role of cold chains and frozen foods in the spread of the virus.”

Beijing continues to firmly reject the theory that the virus might have originated from a Wuhan laboratory.

SOT, Zhao Lijian, Chinese Foreign Ministry spokesperson (Mandarin): “China decided to launch online trading in the carbon market on July 16. Carbon emissions by the companies covered in the first batch of trading are estimated to exceed 4 billion tonnes.”

SOT, Zhao Lijian, Chinese Foreign Ministry spokesperson (Mandarin): “This means that once China’s carbon emissions trading market is launched, it will become the world’s largest in terms of the amount of greenhouse gas emissions covered. This will give new impetus and confidence to global cooperation in tackling climate change and provide a reference for other countries and regions globally.”

SOT, Zhao Lijian, Chinese Foreign Ministry spokesperson (Mandarin): “Climate change brings increasingly severe challenges to human survival and development. China will strive to achieve a carbon peak by 2030 and carbon neutralization by 2060. From carbon peak to carbon neutralisation, the use time in China is much shorter than that in developed countries.”

SOT, Zhao Lijian, Chinese Foreign Ministry spokesperson (Mandarin): “This is a major strategic decision made by China based on its responsibility to promote the building of a community with a shared future for humankind and the inherent requirements of achieving sustainable development. It has contributed to promoting global climate governance and building a community of human and natural life.”

SOT, Zhao Lijian, Chinese Foreign Ministry spokesperson (Mandarin): “The Chinese side has taken note of the draft traceability plan put forward by Director-General Tedros Adhanom and the Secretariat of the World Health Organization, and Chinese experts are studying it.”

SOT, Zhao Lijian, Chinese Foreign Ministry spokesperson (Mandarin): “China’s position on the issue of global traceability is consistent and clear. Tracing back to the source is a scientific issue, and all parties should respect the opinions of scientists and scientific conclusions and should not be politicised.”

SOT, Zhao Lijian, Chinese Foreign Ministry spokesperson (Mandarin): “The next phase of the global traceability plan should be led by member States and agreed upon through consultation.”

SOT, Zhao Lijian, Chinese Foreign Ministry spokesperson (Mandarin): “In March this year, the World Health Organisation officially released the joint traceability research report of China’s World Health Organisation (WHO), which concluded that it is highly unlikely that the virus comes from laboratory leakage. We should continue to look for possible early cases around the world. We also should better understand the role of cold chains and frozen foods in the spread of the virus. This is a scientific and authoritative report and the basis for the next phase of global traceability.”

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