Episode 3: China National Carbon Market Deep-Dive with Zheng Zhang, Director for Climate Finance at the Environmental Defense Fund
In this episode of ICAP's Carbon Market Conversations, host Trevor Laroche-Theune takes us on a deep-dive into the China National Emissions Trading System with Zheng Zhang, Director for Climate Finance at the Environmental Defense Fund Beijing Office. Today’s conversation focuses on what makes China’s ETS unique, how it has overcome challenges from its early stages, the expected impacts of the EU CBAM in China, the future outlook for ETS scope expansion, lessons that emerging economies can learn from China’s experience, and much more. A more detailed breakdown of the topics explored and where you can listen to them is listed below.
You can listen to this episode on the following platforms:
Breakdown of topics covered and corresponding segments
0:55 - Introduction to today’s topic and our guest, Zheng Zhang of the Environmental Defense Fund Beijing Office
2:25 - Introduction to the China National ETS and what makes it unique
3:40 - Main objectives of the ETS
4:15 - China’s climate goals and how the ETS aligns
6:08 - Historical development of the China National ETS
9:00 - Challenges that were faced and how they were addressed
11:40 - Expected impacts of EU CBAM for Chinese industry
13:30 - Expected impacts of EU CBAM for China’s approach to carbon pricing
16:00 - ETS scope expansion outlook and other opportunities for system development
18:45 - Carbon market linking potential
20:50 - Lessons for emerging economies that are implementing, developing, or considering an ETS
24:00 - The core challenge that China’s National ETS must get right in the coming years, and what steps can be taken towards finding its solution
27:25 - Closing remarks
More information about ICAP and the China National ETS can be found here.