The price of the national carbon trading market has exceeded 100 yuan for the first time

On the basis of five consecutive days of rising prices, carbon prices hit a new historical high on April 24th. According to data from the Shanghai Environmental Energy Exchange, the opening price of the national carbon market on the 24th was 99.52 yuan/ton, with a highest price of 101.51 yuan/ton and a lowest price of 98.67 yuan/ton. The closing price was 100.59 yuan/ton, an increase of 0.99% from the previous day. The trading volume of listed agreement trading was 448000 tons, and the transaction scale was significantly enlarged compared to the 23rd.

This is the first time since the establishment of the national carbon trading market that the carbon trading market price has exceeded the 100 yuan mark, and the carbon price has risen by more than 100% since its inception.

In the context of green and low-carbon transformation, the national carbon market is seen as a policy tool to achieve social carbon reduction at a lower cost. By pricing carbon and conducting carbon emission trading, the negative external effects of emissions are internalized according to the "polluter pays" principle.

Shi Yichen, Vice President of the International Research Institute of Green Finance at Central University of Finance and Economics, stated that the release of the Interim Regulations on the Management of Carbon Emission Trading and the strong signal of the recent expansion of the national carbon market industry may be the main factors stimulating the sustained rise of carbon prices.

In addition to policy reasons, according to Ni Qing, the Managing Partner of ESG Sustainable Development Market at PwC China, the amount of free quotas that power generation companies that have been included in the national carbon market can obtain during the second compliance period has decreased compared to the first compliance period. On the one hand, this has led to an increase in the quota gap and market demand for power generation companies that have not taken emission reduction actions. On the other hand, the surplus of power generation companies that originally had a large quota surplus has decreased, the market supply has decreased, and the willingness of emission control companies to hoard carbon quotas has increased.

At present, the price discovery mechanism of the national carbon emission trading market has been preliminarily formed. Although the rise in carbon prices in the short term may increase the cost pressure on key emission control enterprises, in the long run, a relatively stable upward expectation will promote enterprises to carry out emission reduction work and promote green and low-carbon development.

Experts say that setting a new high in carbon prices in the national carbon market is not only the result of the combined effects of market and policy factors, but also provides new opportunities for promoting the green transformation of China's economy and society.

Looking ahead to the future of China's carbon market, Mei Dewen, Vice Chairman of Beijing Green Exchange, pointed out that the national carbon emission trading market (mandatory carbon market) will gradually expand industry coverage, enrich market functions, stimulate market vitality, including improving quota allocation methods, gradually introducing paid allocation, enriching carbon market trading varieties, trading entities, and trading methods; The national voluntary greenhouse gas emission reduction trading market (voluntary carbon market) will also expand its support areas, focusing on establishing a voluntary emission reduction trading market that is internationally connected, standardized, effective, fair and transparent.

全国碳交易市场价格首次突破百元

在此前连续五日上涨的基础上，4月24日碳价再创历史新高。上海环境能源交易所的数据显示，24日全国碳市场开盘价99.52元/吨，最高价101.51元/吨，最低价98.67元/吨，收盘价100.59元/吨，收盘价较前一日上涨0.99%，挂牌协议交易成交量44.8万吨，成交规模较23日明显放大。

  这是自全国碳交易市场成立以来碳交易市场价格首次突破百元关口，且碳价较成立之初已上涨超100%。

  在绿色低碳转型背景下，全国碳市场被视为以较低成本实现全社会降碳的政策工具，通过为碳定价，开展碳排放权交易，按照“污染者付费”原则，将排放的负外部效应内部成本化。

  中央财经大学绿色金融国际研究院副院长施懿宸表示，《碳排放权交易管理暂行条例》的发布以及近期全国碳市场行业扩容的强烈信号，或许是刺激碳价持续走高的主要因素。

  除政策原因外，在普华永道中国ESG可持续发展市场主管合伙人倪清看来，与第一履约期相比，已纳入全国碳市场的发电企业在第二履约期内可获得的免费配额量有所下降，一方面，这导致未采取减排行动的发电企业配额缺口加大，市场需求量增多，另一方面，原本有较多配额盈余的发电企业的盈余部分有所减少，市场供给量减少，控排企业囤积碳配额的意愿增强。

  目前全国碳排放权交易市场的价格发现机制已初步形成，尽管短期内碳价走高可能会增加重点控排企业成本压力，但从长远看，较为稳定的上涨预期将促进企业开展减排工作，推动绿色低碳发展。

  专家表示，全国碳市场碳价创下新高既是市场和政策因素共同作用的结果，也为推动我国经济社会的绿色转型提供了新机遇。

  展望中国碳市场的未来，北京绿色交易所副董事长梅德文指出，全国碳排放权交易市场（强制碳市场）将循序渐进地扩大行业覆盖范围，丰富市场功能，激发市场活力，包括完善配额分配方式，逐步引入有偿分配，丰富碳市场交易品种、交易主体和交易方式等；全国温室气体自愿减排交易市场（自愿碳市场）也将扩大其支持领域，着力建立对接国际、规范有效、公平透明的自愿减排交易市场。