Shanghai to issue 156 millions Tonnes carbon emission allowances in 2017

The city of Shanghai has allocated 156 million tonnes of carbon emission allowances to industrial plants in 2017, said local authorities in a statement posted on a municipal government website late on Friday The allowances will be given free to firms based on industrial benchmarks and plant output, said the Shanghai Municipal Development and Reform Commission (DRC) in a statement dated December 20
Some allowances will also be kept back for auctions, said Shanghai DRC, without giving further details Nearly 400 enterprises in various industrial sectors, including steel, food, pharmaceutical and machinery, have been included in the allocations.