Virtuse, BP and Shell made up 12% of market volume of China’s biggest pilot emissions trading scheme
Virtuse Energy together with other two foreign market participants BP and Shell made up 12% of market volume of China’s biggest pilot emissions trading scheme in Guangdong. Statistics were published by London headquartered news platform Carbon Pulse.
In addition, 160 individuals participating in the market made up 4% of the total volume. According Carbon Pulse 38 domestic institutional investors dominating the Guangdong market, making up 54% of the total traded volume over the first three years.
Half of the roughly 200 participants in the biggest pilot emissions trading scheme did not execute a single trade in the first three years of the programme, while covered entities accounted for just 30% of total traded volume, an official report showed.
The figure indicated weak participation in Guangdong’s cap-and-trade system, although numbers improved from the first year of operation (2013), when only 27% of the covered entities were involved in trading, said a report released Monday by the China Emissions Exchange in Guangzhou.
Among the ETS-regulated companies, electricity generators were the most active, accounting for 15.6% of trade. Cement producers represented 8.4%, iron and steel 2.7% and petrochemicals 1.8%.
The biggest participating firm was Guangdong Yudean Group, the province’s biggest power conglomerate. It had traded 485,000 permits in the secondary market while also picking up 4 million allowances through government auctions over Dec. 2013-Dec. 2016.