Publication,

Funding and Carbon Markets,

China’s National Carbon Market: A Guide for Investors

24 August 2022

The ability to monetise carbon and trade carbon credits through carbon markets is a core component of the global transition to net zero. The expansion of China’s national emissions trading scheme (National ETS) has the capacity to revolutionise global carbon trading. We expect the rising demand for credits (a sizeable proportion of which will originate in China) will increase global carbon prices. The development of Hong Kong as carbon market hub for the Guangdong-Hong Kong-Macao Greater Bay Area is significant because it will facilitate cross border investment in the onshore carbon markets by offshore investors.

In this alert we explain what investors need to know about China’s National ETS – what it covers, how it operates and the opportunities that it presents. China is the world’s largest producer of wind and solar energy and its market-leading technology industries will drive clean energy transition.

*Any reference to "Hong Kong" or "Hong Kong SAR" shall be construed as a reference to "Hong Kong Special Administrative Region of the People's Republic of China".

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