Emissions Trading Systems: Trajectories for Development

... China and Russia in advancing their ETS agenda: Starting from 2011 China has put forward pilot emissions trading platforms in eight cities and provinces, paving the way for a national trading scheme that was unveiled in 2017. The operational phase of China’s ETS began on 1 February 2021, starting with 2,225 entities in the power sector. Entities whose emissions exceed the free allocation will be required to purchase an allowance in the open market. Trading is targeted to begin in mid-2021. In December 2020,...