China carbon market research report 2016
Trading volumes on China’s seven emissions exchanges increased by 86.5% last year, but the financial value of the transactions rose by just 50% due to falling prices, an annual report on China’s carbon markets said. A total 24.5 million allowances worth 656 million yuan ($100 million) changed hands via exchanges in China’s seven pilot carbon markets last year, Richard Mao of consultancy Environomist said at an event in Beijing. The event launched the China Carbon Market Research Report 2016, which was backed by the South Pole Group and the International Finance Corporation (IFC), the private sector arm of the World Bank. A further 8.5 million allowances traded OTC as so-called block trades, while 33 million offsets, known as CCERs, were bought and sold, taking total carbon trading volumes in China to 66 million for 2015, the report said.