China Carbon Watch: Price Hits Record High

Trading in China’s national carbon emissions allowance (CEA) market in November cooled significantly from October, but volume still reached 40.4 million tons for the month, the third-highest ever. Meanwhile, the volume-weighted average price for all trades hit a record high.

Nov. 15 was the deadline for 95% of covered entities to complete their allowance submissions for the current compliance cycle, which ended Sunday on the last day of the year. Covered entities were actively engaged in the market during the first two weeks of November, with volumes exceeding 1.4 million tons every trading day.