Nathaniel Taplin, Wall Street Journal, summarizes China’s debut, here…
”The carbon market closed at 51.23 yuan, equivalent to $7.91, per metric ton on Friday according to Thomson Reuters. That is still well below prices in Europe, where a metric ton will cost you around $60, and probably below levels needed to really change behavior. For instance, ANZ Bank estimates that a 36 yuan per metric ton carbon price would only represent around an extra 5% operational cost for Chinese coal plants. And a 2016 World Bank paper found that reducing Chinese emissions in 2030 by 16% from their baseline estimate would require carbon prices rising to 157 yuan per metric ton by that date.”
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