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The electric power industry urgently needs to introduce carbon trading
The power industry is one of the largest contributors to global carbon emissions and plays a central role in the development of carbon trading markets. Internationally, systems such as the EU Emissions Trading System (EU-ETS), the Regional Greenhouse Gas Initiative (RGGI) in the U.S., California’s Carbon Trading System, and similar mechanisms in New Zealand and Australia have demonstrated the potential of market-based approaches to reduce emissions. In China, the construction of a national carbon market is progressing steadily, but the power sector still faces key challenges in integrating into this evolving system.
Ren Haoning, a researcher at China Investment Advisors, highlights that the power industry remains one of the main sources of carbon emissions in China, largely due to the country's heavy reliance on coal-fired power plants. This has placed significant pressure on energy conservation and environmental protection efforts. Implementing carbon trading is essential, but many critical issues must be addressed urgently.
First, accurately measuring and defining carbon emissions is fundamental. Many Chinese power companies lack the technical capacity to independently calculate their emissions. Most rely only on basic equipment provided by the government, without fully understanding the broader environmental impact. Additionally, there is limited awareness of carbon trading rights, which hinders effective participation in the market.
Second, strengthening the carbon trading market is crucial. The launch of the Guangdong carbon trading pilot marked an important step, with the first quota transaction completed in Guangzhou. However, the absence of comprehensive regulations and policies has slowed the nationwide rollout, limiting the scale of participation from power companies.
Third, aligning carbon emissions with economic incentives is vital. Currently, many power companies lack strong motivation to improve energy efficiency, as the link between carbon trading and financial benefits remains weak. Companies that perform well in reducing emissions struggle to gain fair compensation, while others continue emitting without consequence. To drive real change, carbon rights must be tied closely to economic interests, encouraging proactive participation from all players.
Zhang Yanlin, a research director at China Investment Consulting, emphasizes that carbon trading in the power sector is not just necessary but also strategically important. It can significantly advance energy conservation and promote sustainable development within the industry. Government agencies and regulatory bodies should work together to establish clear emission measurement standards and introduce supportive legislation.
According to the "2012–2016 China Power Industry Energy-Saving and Emission Reduction Investment Analysis and Forecast Report" by China Investment Advisors, the power sector faces a heavy burden in reducing emissions. However, these efforts will play a key role in ensuring China’s long-term economic and environmental health. As investment in green technologies increases, carbon trading is expected to become a standard practice in the power industry, paving the way for cleaner production, transportation, and consumption.