Carbon pricing: A game-changer for China’s aluminium industry?
Like other economies, China has implemented compliance carbon pricing as a key component of its decarbonisation policy toolkit, aiming to facilitate the shift towards cleaner and more sustainable economic practices. In 2016, China’s State Council announced the 13th five-year plan for greenhouse gas control, including introducing carbon pricing for non-ferrous metals production. In November 2022, the Chinese government rolled out the “Action Plan for Peaking Carbon Emissions in the Non-Ferrous Metals Industry”, reaffirming the inclusion of carbon emissions from key metals production in China’s national ETS. In April 2023, the government released the “Guidelines for Establishing Standards for Carbon Peaking and Carbon Neutrality” to accelerate the development of carbon emissions accounting standards for energy-intensive industries, including the non-ferrous metals sector.