China reiterates target for carbon market expansion

Market set to cover all major industrial emitters.

By 2027, China's goal is to have covered all key industrial emitters as part of its expanded carbon market.

The China Carbon Emission Trade Exchange, which already includes sectors like steel and cement, is looking to add the chemical, petrochemical, civil aviation, and paper manufacturing industries.

Citing Ministry of Ecology and Environment official Xia Yingxian, Xinhua reported that the planned carbon market expansion is aimed at driving investment in low-carbon technologies whilst enforcing emission reduction obligations.

Meanwhile preparatory work for the inclusion of the other sectors is said to be underway. 

It was highlighted that only those industries that meet the stringent requirements would be added as part of a gradual expansion, the targets for which were first revealed earlier this year.