China's carbon trading market resurrected after eight-year hiatus, poised for further industry inclusions
China has unveiled an ambitious agenda to extend its carbon trading system to encompass the steel, cement, and aluminium smelting sectors. The Ministry of Ecology and Environment has announced that this expansion will incorporate an additional 1,500 enterprises, enabling them to procure credits to offset their CO₂-equivalent emissions.
This extension will elevate the total volume of carbon dioxide regulated under the trading system to 8 billion tonnes—encompassing over 60 per cent of China’s total emissions. Ministry spokesperson Pei Xiaofei revealed these developments during a briefing on Wednesday.
As one of the world’s foremost exporters of goods subject to the EU’s Carbon Border Adjustment Mechanism (CBAM), China is projected to export approximately 868.94 million tonnes of such commodities between 2026 and 2040, according to S&P Global Commodity Insights. The iron and steel industries will account for 42 per cent of these exports, cement 8 per cent, and aluminium 6 per cent.
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