A significant breakthrough in industrial decarbonization 工业脱碳的巨大突破
Introduction
In the global pursuit of carbon neutrality, China’s recent move to expand its national carbon market to cover the steel, cement, and aluminum sectors is a significant milestone. As per the “National Carbon Emission Trading Market Coverage of Steel, Cement, and Aluminum Smelting Industries Work Plan” released by the Ministry of Ecology and Environment on March 26, this expansion marks a crucial step in China’s industrial decarbonization journey. This newsletter will delve into the details of this expansion and its far – reaching impacts.
引言
在全球追求碳中和的进程中，中国近期将全国碳市场扩大至涵盖钢铁、水泥和铝行业的举措是一个重要的里程碑。根据生态环境部于3月26日发布的《全国碳排放权交易市场覆盖钢铁、水泥、铝冶炼行业工作方案》，这一市场扩容标志着中国工业脱碳进程中迈出了关键一步。本通讯将深入探讨此次市场扩容的具体细节及其深远影响。
China’s Carbon Market Expansion: Key Details
Scope Expansion
The national carbon emission trading market in China previously covered only 2,200 key emission units in the power generation industry. The new expansion brings in approximately 1,500 enterprises from the steel, cement, and aluminum smelting industries.
Steel, cement, and aluminum smelting industries are major carbon emitters, contributing around 3 billion tons of carbon dioxide equivalent annually, accounting for over 20% of China’s total carbon dioxide emissions. After the expansion, the total number of key emission units is expected to reach about 3,700, covering approximately 8 billion tons of emissions, which is more than 60% of the national total. Moreover, the types of greenhouse gases under control have expanded from just carbon dioxide to include carbon tetrafluoride and hexafluoroethane, enabling more precise emission control.
中国碳市场扩容：关键细节
覆盖范围扩大
中国全国碳排放权交易市场此前仅涵盖发电行业的 2200 家重点排放单位。此次新的扩容纳入了来自钢铁、水泥和铝冶炼行业的约 1500 家企业。
钢铁、水泥和铝冶炼行业是主要的碳排放大户，每年排放约 30 亿吨二氧化碳当量，占中国二氧化碳排放总量的 20% 以上。扩容后，重点排放单位总数预计将达到约 3700 家，覆盖约 80 亿吨的排放量，占全国排放总量的 60% 以上。此外，受控的温室气体种类已从仅有的二氧化碳扩大到包括四氟化碳和六氟乙烷，从而实现更精确的排放控制。
Mechanism Innovation
– From 2024 – 2026, the market is in the “start – up and implementation stage”. During this period, the focus is on cultivating the capabilities of market entities. In 2024, as the first regulated year for the steel, cement, and aluminum smelting industries, the quotas are allocated equally based on the verified actual carbon emissions, and the compliance fulfillment should be completed by the end of 2025. This arrangement means that the newly entered enterprises are eligible for trading in 2025 and can participate in market transactions in accordance with relevant national requirements. For the quota allocation in 2025 and 2026, the concept of carbon emission intensity control will be adopted. By reasonably setting the surplus-deficit rate, enterprises will either have surplus or shortage of quotas, which will guide them to participate in market transactions.
– After 2027, the market will enter the “deepening and improvement stage”, with gradually tightened quotas to push enterprises towards deeper emissions reduction.The carbon price will play an anchoring role, serving as a benchmark for climate – related investment and financing, as well as carbon quota pledge, attracting financial capital into low – carbon technology research and development.
机制创新
– 2024 年至 2026 年，市场处于 “启动与实施阶段”。在此期间，重点是培养市场主体的能力。2024 年作为钢铁、水泥和铝冶炼行业的首个受监管年份，配额将根据经核查的实际碳排放量平均分配，且应在 2025 年底前完成履约。这一安排意味着新进入的企业在 2025 年有资格进行交易，并可按照国家相关要求参与市场交易。对于 2025 年和 2026 年的配额分配，将采用碳排放强度控制的概念。通过合理设定盈缺率，企业的配额将出现盈余或短缺，从而引导它们参与市场交易。
– 2027 年之后，市场将进入 “深化与完善阶段”，配额将逐步收紧，推动企业进行更深入的减排。碳价将发挥锚定作用，作为气候相关投融资以及碳配额质押的基准，吸引金融资本投入到低碳技术研发中。
Data and Supervision Upgrade
To ensure the effectiveness of the expanded carbon market, historical data from more than 80,000 carbon emission reports of over 6,000 enterprises in 8 industries since 2013 have been integrated. This data integration serves as a solid foundation for quota allocation. Additionally, more than 900 enterprises participated in the system’s “practical training”, testing the smooth operation of the entire process of trading, verification, and settlement.
数据与监管升级
为确保扩容后的碳市场有效运行，自 2013 年以来 8 个行业 6000 多家企业的 8 万多份碳排放报告的历史数据已被整合。这些数据整合为配额分配奠定了坚实基础。此外，900 多家企业参与了该系统的 “实操培训”，检验了交易、核查和结算全过程的顺利运行情况。
Industry – wide Impacts
Traditional Industry Transformation
For traditional high – carbon – locked industries like steel, cement, and aluminum smelting, carbon costs will become a core factor in their competitiveness. The new quota allocation mechanism will “encourage the advanced and restrict the backward”, accelerating the phase – out of inefficient production capacity and increasing industry concentration. Enterprises will have to invest in technologies such as hydrogen – based steelmaking, low – carbon cement clinker, and clean energy substitution for electrolytic aluminum to gain an edge. For instance, hydrogen – based steelmaking can significantly reduce carbon emissions compared to traditional coal – based steelmaking processes.
行业影响
传统产业转型
对于钢铁、水泥和铝冶炼等传统的高碳锁定行业而言，碳成本将成为影响其竞争力的核心因素。新的配额分配机制将“鼓励先进、限制落后”，加速淘汰低效产能，并提高行业集中度。企业将不得不投资于诸如氢冶金炼钢、低碳水泥熟料以及电解铝的清洁能源替代等技术，以获取竞争优势。例如，与传统的以煤为基础的炼钢工艺相比，氢冶金炼钢能够显著降低碳排放。
Emerging Industry Boom
The expansion of the carbon market has given rise to four new development tracks. The carbon service industry will see a surge in demand for verification, monitoring, and consulting services. In the carbon finance sector, innovative tools such as quota pledges and carbon futures will emerge. Suppliers of low – carbon equipment, including those for energy – saving transformation and carbon capture technology, will face a boom in business. Export – oriented enterprises will also have to step up efforts to meet the requirements of the EU’s Carbon Border Adjustment Mechanism (CBAM), driving the development of related technologies and strategies.
Divergent Enterprise Responses
Leading enterprises with advanced carbon emission management are eager to take advantage of the carbon market. They aim to consolidate their advantages and may even profit from selling surplus quotas. However, small and medium – sized enterprises face significant challenges. They need to quickly address issues such as data management, talent shortage, and technology upgrading. These enterprises will require policy support and external assistance to make a smooth transition.
新兴产业热潮
碳市场的扩容催生了四条新的发展路径。碳服务行业对核查、监测和咨询服务的需求将大幅增长。在碳金融领域，配额质押和碳期货等创新工具将会涌现。包括节能改造和碳捕获技术设备在内的低碳设备供应商将迎来业务的蓬勃发展。外向型企业也将不得不加大力度，以满足欧盟碳边境调节机制（CBAM）的要求，这将推动相关技术和战略的发展。
企业反应各异
拥有先进碳排放管理体系的龙头企业渴望利用碳市场的机遇。它们旨在巩固自身优势，甚至可能通过出售多余的配额获利。然而，中小企业面临着巨大的挑战。它们需要迅速解决数据管理、人才短缺和技术升级等问题。这些企业将需要政策支持和外部援助，以便顺利实现转型。
Enterprise’s Action Guide
Effective actions’ plan for corporates impacted by the new regulation could include:
– Establish an internal carbon management system and conduct a review of historical data.
– Pay attention to the quota allocation plan (which will soon be open for public comments) and assess the surplus or deficit of your own quotas.
– Apply low-carbon technologies and explore financing through carbon financial instruments.
– Actively provide feedback on policies to strive for industry discourse power.
企业行动指南
受新规定影响的企业可采取的有效行动计划包括：
– 建立内部碳管理体系，并对历史数据进行梳理。
– 关注配额分配计划（该计划不久将公开征求意见），评估自身配额的盈余或短缺情况。
– 应用低碳技术，并探索通过碳金融工具进行融资。
– 积极对政策提出反馈意见，争取行业话语权。
CNEUCN’s Role and Contributions
CNEUCN, can offer comprehensive support in this new context. Leveraging its strategic partnership network, CNEUCN can connect Chinese enterprises in the steel, cement, and aluminum sectors with relevant stakeholders. This connection can facilitate the introduction of advanced low – carbon technologies and management experience from Europe.
The tailored business consulting services provided by CNEUCN can assist enterprises in formulating carbon management strategies. This includes helping them understand the new carbon market rules, evaluate their carbon footprint, and develop long – term carbon reduction plans.
In terms of sustainable technology innovation, CNEUCN, through cooperation with third – party certification bodies, can ensure that enterprises’ low – carbon technologies and equipment meet international standards. This not only gives enterprises confidence in their technological investments but also helps them gain a competitive edge in the global market.
仲欧脱碳科技的作用与贡献
在中国碳市场扩容这一新背景下，仲欧脱碳科技（CNEUCN）能够提供全面的支持。凭借其战略伙伴关系网络，仲欧脱碳科技可以将中国钢铁、水泥和铝行业的企业与相关利益方联系起来。这种联系有助于引进来自欧洲的先进低碳技术和管理经验。
仲欧脱碳科技提供的定制化商业咨询服务能够协助企业制定碳管理战略。这包括帮助企业了解新的碳市场规则，评估其碳足迹，并制定长期的碳减排计划。
在可持续技术创新方面，仲欧脱碳科技通过与第三方认证机构合作，可以确保企业的低碳技术和设备符合国际标准。这不仅让企业对其技术投资充满信心，还能帮助它们在全球市场中获得竞争优势。
Conclusion
China’s expansion of the national carbon market to cover the steel, cement, and aluminum sectors is a significant step towards achieving its carbon neutrality goals. It brings both challenges and opportunities for industries and enterprises. As China continues to lead the way in global decarbonization efforts, CNEUCN will play an increasingly important role in promoting international cooperation and driving the transformation towards a low – carbon future.
结论
中国将全国碳市场扩大至涵盖钢铁、水泥和铝行业，是朝着实现碳中和目标迈出的重要一步。这给各行业和企业带来了挑战与机遇并存的局面。随着中国在全球脱碳进程中持续发挥引领作用，仲欧脱碳科技将在促进国际合作以及推动向低碳未来转型方面发挥日益重要的作用。
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