A power plant of Shenzhen Energy Group, a state-owned utility, sold an emission permit for 10,000 tonnes to the Guangdong arm of state oil group PetroChina for Rmb28 ($5) a tonne and another 10,000 tonnes to Hanergy, a privately owned power generator and solar-panel maker, for Rmb30 a tonne, according to the Shenzhen Carbon Exchange.
“This means that our country has taken a key step in establishing a car-bon market,” the exchange said.
Carbon markets allow companies to buy permits to emit carbon dioxide from those that burn less fossil fuels. They thus help set a price on emissions, a mechanism that aims to encourage companies to cut such pollution and invest in cleaner technologies.
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