The Shanghai emissions trading system at a glance
• Cap: not announced
• Allowances: not announced
• Allowances allocations: free and one-off
• Allocation: grandfathering for construction and industrial plants, and benchmarking for the aviation, maritime and power sectors.
• Executive period: 2013-2015
• Offsets: 5% of the allowances. Only the Chinese Certified Emissions Reductions (CCER) generated by local projects are eligible.
• Penalty for the non-compliance: CNY 50,000-100,000 (€ 5,000-10,000)/tonne
• No new entrants are allowed.
• Transaction fee: 0.08% per transaction for both sides
• Timelines: The covered entities measure the next-year emission before 31 December and report the last year’s emissions before 31 March. Verification happens before 30 April and compliance between 1-30 June.
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