Background
In 2013, China represented nearly 60% of the total global increase in CO2 emissions, and its per capita emissions surpassed those of the EU for the first time. The Chinese Government announced it would reduce the carbon intensity of the Chinese economy, and a nationwide carbon trading scheme was to form a centrepiece of its strategy to achieve this.
The Chinese Government planned to first test carbon trading schemes on a small scale in seven locations, with a view to eventually expanding them to a national scheme. A national-level registry framework is a vital policy component for any carbon trading scheme, as it serves to keep the rules consistent for trading entities and local carbon exchanges. This project aimed to create a study providing the specifics of a national level carbon trading registry system to facilitate both short-term project-based trading and allowance-based carbon trading in the years to come.
