According to the Aug. 25 statement from the State Council and the Communist Party’s Central Committee, China will, for the first time, impose absolute emissions caps in certain industries with relatively stable carbon emissions, starting in 2027.
According to the statement, the emissions trading scheme (ETS) will be expanded to cover most major carbon-emitting industries by 2027.
Although the specific industries were not identified, it’s believed that the industries will include sectors such as chemicals, petrochemicals, papermaking, and domestic aviation.