Shanghai will officially launch a pilot carbon emissions trading platform next year, which is expected to see the participation of about 200 companies in 16 industries, the China Securities Journal reported Tuesday, citing an anonymous source.
According to a preliminary estimate, these 200 enterprises emit 110 million tons of carbon dioxide on an annual basis, accounting for nearly half of the emissions in Shanghai. During the trial period, companies will be given initial quotas for carbon emissions for free, which are set based on their historical emissions data. They will be required to pay for a quota increase if they fail to meet their energy conservation goals.