The Zhitong Finance App learned that the Ministry of Ecology and Environment recently released the “National Carbon Emissions Trading Market 2025 and 2026 Power Generation Industry and 2026 Total Quota Allocation Plan for the Steel, Cement, and Aluminum Smelting Industry”, which lays out the scope, calculation methods, issuance and settlement of quotas for related industries. The plan proposes to scientifically formulate total quota and distribution plans according to the national greenhouse gas emission control target and carbon neutrality implementation path, taking into account factors such as the macroeconomic situation, historical emissions situation, market regulation needs, and carbon emission data management basis, and gradually link and collaborate with production capacity replacement and production control policies to strengthen carbon emission control requirements for illegal and backward production capacity and self-owned power plants, and promote the industry to reduce carbon emissions in an orderly and safe manner. Give full play to the decisive role of the market in resource allocation, create a fair, competitive and open market environment, with “encouraging advanced and backward” as the policy guide, the lower the carbon emissions per product, the higher the quota surplus rate. Guide enterprises to deeply integrate carbon emission management into strategic planning and production and operation, support the application of green and low-carbon technologies such as energy efficiency improvement, raw fuel substitution, and process innovation, and promote the whole society to achieve emission reduction goals at a lower cost.
The original text is as follows:
Notice on Issuing the “National Carbon Emissions Trading Market 2025 and 2026 Power Generation Industry and 2026 Total Quota and Distribution Plan for the Steel, Cement and Aluminum Smelting Industry”
Ecological environment departments (bureaus) of the provinces, autonomous regions and municipalities directly under the Central Government, the Ecological Environment Bureau of the Xinjiang Production and Construction Corps, the National Carbon Emissions Registration Agency, and the National Carbon Emissions Trading Agency:
Our department has formulated the “National Carbon Emissions Trading Market 2025 and 2026 Power Generation Industry and 2026 Total Quota and Distribution Plan for the Steel, Cement and Aluminum Smelting Industry”, which is now being issued to you. Please carefully implement them to ensure that all quota management tasks are completed on time and with good quality.
Ministry of Ecology and Environment
September 1, 2026
National Carbon Emissions Trading Market Total quota and allocation plan for the power generation industry in 2025 and 2026 and the steel, cement and aluminum smelting industry in 2026
In order to effectively allocate quotas for the power generation industry in 2025 and 2026 and the steel, cement and aluminum smelting industry in 2026, and further develop the important role of the market mechanism in controlling greenhouse gas emissions and reducing emission reduction costs for the whole society, this plan was formulated in accordance with the “Interim Regulations on the Administration of Carbon Emissions Trading”.
I. General Requirements
Adhere to goal orientation. According to the national greenhouse gas emission control target and carbon neutrality implementation path, factors such as the macroeconomic situation, historical emissions situation, market adjustment needs, and carbon emission data management basis are taken into account in an integrated manner, and the total quota amount and distribution plan are scientifically formulated, and gradually linked and collaborated with capacity replacement and production control policies to strengthen carbon emission control requirements for illegal and backward production capacity and self-owned power plants, and promote the industry to reduce carbon emissions in an orderly and safe manner.
Stick to step by step. Various industries continue their historical annual policy efforts, implement free quota allocation based on carbon emission intensity control, and continuously optimize allocation methods to lay a good foundation for the orderly implementation of free and paid carbon quota distribution methods in subsequent years. The steel, cement, and aluminum smelting industry is initially positioned based on expansion, and the distribution method remains unchanged from 2025; the power generation industry fully considers the actual development of the industry and dynamically adjusts the quota benchmark value on the basis of a comprehensive assessment of market operation.
Prioritize efficiency. Give full play to the decisive role of the market in resource allocation, create a fair, competitive and open market environment, with “encouraging advanced and backward” as the policy guide, the lower the carbon emissions per product, the higher the quota surplus rate. Guide enterprises to deeply integrate carbon emission management into strategic planning and production and operation, support the application of green and low-carbon technologies such as energy efficiency improvement, raw fuel substitution, and process innovation, and promote the whole society to achieve emission reduction goals at a lower cost.
II. Scope of quota allocation
(1) Scope of industry enterprises
This plan applies to the 2025 and 2026 power generation industry and the 2026 steel, cement and aluminum smelting industry quota allocation. The 2025 steel, cement and aluminum smelting industry quota allocation is implemented in accordance with the “2024/2025 National Carbon Emissions Trading Market Steel, Cement, and Aluminum Smelting Industry Total Quota and Distribution Plan”. Among them, the scope of implementation of the power generation industry is enterprises included in the list of key emission units in the national carbon emissions trading market 2025 and 2026. The scope of implementation of the steel, cement and aluminum smelting industry is Companies included in the 2026 list of key emission units in the National Carbon Emissions Trading Market.
(ii) Types of greenhouse gases
The types of greenhouse gases covered by the power generation, steel, and cement industries are carbon dioxide (\ (CO_ {2}\)), and the aluminum smelting industry covers carbon dioxide (\ (CO_ {2}\)), carbon tetrafluoride (\ (CF_ {4}\)), and carbon hexafluoride (\ (C_ {2} ~F_ {6}\)). Carbon tetrafluoride and carbon hexafluoride emissions are global potential global warming potential (GWP) as specified in the “Enterprise Greenhouse Gas Emissions Accounting and Reporting Guidelines for the Aluminum Smelting Industry” Equivalent to carbon dioxide emissions (\ (CO_ {2) } e\)).
(3) Emission range
The power generation industry covers direct greenhouse gas emissions from fossil fuel combustion, and the steel, cement, and aluminum smelting industries cover direct greenhouse gas emissions from fossil fuel consumption, industrial processes, and implicit emissions from carbon-containing products. None of these industries cover indirect emissions due to consumption of electricity, heat, etc.
3. Quota calculation method
In addition to the key emission units (units, production lines, processes) specified in this plan, the power generation industry uses the carbon emission intensity benchmark method to allocate quotas, and the steel, cement, and aluminum smelting industry uses the carbon emission intensity coefficient method to allocate quotas in 2026.
(1) Power generation industry
The carbon emission quota for key emission units in the power generation industry is calculated based on the generator set, and the carbon quota for all generator sets owned by the key emission unit is added. The carbon quota for generator sets is calculated using the carbon emission intensity benchmark method. The specific method is as follows.
1. Coal-fired unit\ (CO_ {2}\) emission quota
The\ (CO_ {2}\) emission quota calculation formula for coal-fired units is as follows:\ (A=A_ {e} +A_ {h}\)
In the formula: A unit\ (CO_ {2}\) total quota, unit:\ (TCo_ {2}\);\ (A_ {e}\) — unit power generation\ (CO_ {2}\) quota, unit:\ (TCo_ {2}\);\ (A_ {h}\) — unit heating\ (CO_ {2}\) quota, unit:\ (TCo_ {2}\).
Among them,\ (A_ {e}\) is the unit's power generation\ (CO_ {2}\) quota calculation method is:\ (A_ {e} =Q_ {e} × B_ {e} × F_ {f}\)
In the formula:\ (Q_ {e}\) — unit power generation, unit: MWh;\ (B_ {e}\) — reference power generation value for the unit's category, unit:\ (tCO_ {2}/MWh\), see table 1;\ (F_ {f}\) — unit peak shaving correction coefficient, refer to “Coal-fired generator unit energy consumption limit per unit product” (GB 21258-2024). The peak shifting correction coefficient for conventional coal-fired generators is selected according to Table 2. The correction factor is 1.
\ (A_ {h}\) is the unit heating\ (CO_ {2}\) quota calculation method is:\ (A_ {h} =Q_ {h} × B_ {h}\)
In the formula:\ (Q_ {h}\) — unit heat supply, unit: GJ;\ (B_ {h}\) — reference heating value for the unit's category, unit:\ (tCO_ {2}/GJ\), see Table 1 for details.
2. Gas Generator\ (CO_ {2}\) Emissions Allocation
The\ (CO_ {2}\) emission quota calculation formula for gas units is as follows:\ (A=A_ {e} +A_ {h}\)
In the formula: A unit\ (CO_ {2}\) total quota, unit:\ (TCo_ {2}\);\ (A_ {e}\) — unit power generation\ (CO_ {2}\) quota, unit:\ (TCo_ {2}\);\ (A_ {h}\) — unit heating\ (CO_ {2}\) quota, unit:\ (TCo_ {2}\)
Among them,\ (A_ {e}\) is the unit's power generation\ (CO_ {2}\) quota calculation method is:\ (A_ {e} =Q_ {e} × B_ {e}\)
In the formula:\ (Q_ {e}\) — unit power generation, unit: MWh;\ (B_ {e}\) — reference power generation value for the unit's category, unit:\ (tCO_ {2}/MWh\), see Table 1 for details.
\ (A_ {h}\) is the unit heating\ (CO_ {2}\) quota calculation method is:\ (A_ {h} =Q_ {h} × B_ {h}\)
3. Key emission unit\ (CO_ {2}\) emission quota
The formula for calculating the emission quota for key emission units\ (CO_ {2}\) is as follows:\ (A_ {i} =\ sum_ {i=1} ^ {n} A_ {i}\)
In the formula:\ (A_ {f}\) — the total amount of key emission unit\ (CO_ {2}\) quota, in units:\ (tCO_ {2}\);\ (A_ {i}\) — the amount of quota for unit i\ (CO_ {2}\), in units:\ (tCO_ {2}\); n — number of units owned by the key emission unit.
4. Exemption mechanism
(1) Gas unit exemption Gas units are exempted at the unit level. For gas units with an initial unit quota greater than or equal to the verified emissions, the unit's approved quota amount is equal to the initial quota; for gas units with an initial unit quota less than the verified emissions, a unit exemption is implemented, that is, a certain quota amount is reissued. The amount of the replacement quota is the difference between the unit's verified emissions and the unit's initial quota. The approved quota amount for the unit is equal to the unit's verified emissions.
(2) Key emission unit exemption The initial quota amount for key emission units refers to the sum of the quotas for each unit within the key emission unit (including gas and coal-fired units, and special case units with a quota amount equal to their verified actual carbon emissions) calculated according to this plan. The approved quota amount for key emission units refers to the amount of quota due to key emission unit's initial quota amount, and finally determined after adjustments such as the maximum quota compliance rate exemption at the key emission unit level.
In order to reduce the compliance pressure on key emission units with large quota gaps, a 20% quota compliance gap rate upper limit exemption (quota compliance gap rate refers to the ratio between the verified emissions of key emission units and the verified emissions of key emission units to the verified emissions of key emission units). For key emission units the initial quota amount is greater than or equal to 80% of the verified emissions of key emission units, the approved quota amount for key emission units is equal to the initial quota amount for key emission units; for key emission units the initial quota amount is less than the approved key emission unit If 80% of the emissions are checked, the key emission unit exemption is implemented, that is, a certain amount of quota is reissued. The amount of the reissued quota is the difference between 80% of the verified emissions of the key emission unit and the initial quota amount of the key emission unit. After the replacement, the approved quota amount for the key emission unit is equal to 80% of the verified emissions of the key emission unit, so that the quota compliance gap rate does not exceed 20%.
(2) Steel, cement and aluminum smelting industries
Carbon emission quotas for key emission units in the steel industry are calculated based on steel enterprise corporations or joint steel production enterprises. The carbon emission quota for key emission units in the cement and aluminum smelting industry is calculated based on clinker production lines and aluminum electrolysis processes, and is the sum of carbon quotas for all production lines (processes) owned by key emission units. The carbon quota for steel, cement, and aluminum smelting enterprises (production lines, processes) is calculated using the carbon emission intensity coefficient method. The specific method is as follows.
1. Enterprise (production line, process)\ (CO_ {2}\) emission quota
The annual approved quota is calculated as follows:\ (A=E\ times (1+\ alpha)\)
In the formula: A — steel enterprises, cement clinker production lines, aluminum electrolysis process quotas, unit:\ (tCO_ {2} e\); E — carbon emissions from steel companies, cement clinker production lines, aluminum electrolysis processes, determined based on the inspection results of the year, units: tCO2e; α — carbon emission intensity coefficient, which characterizes the advanced level of carbon emission intensity control of an enterprise; when the enterprise is superior to the industry benchmark level,\ (α values >; 0\);\ (vice versa, α is a value of <, 0); See Table 3 for details.
2. Carbon emission intensity factor
The carbon emission intensity coefficient for steel companies, cement clinker production lines, and aluminum electrolysis processes in 2026 is determined based on the gap between the carbon emissions of tons of their main process products and the industry balance value, that is, the degree of carbon emission intensity deviation (X) (Table 3).
The balance value for the steel, cement, and aluminum smelting industry for each year is an important basis for determining the carbon emission intensity deviation and carbon emission intensity coefficient of each enterprise (production line, process) according to the quota allocation method stipulated in this plan, when the total carbon emission quota for each industry is equal to the total carbon emission quota payable (verified emissions) of each industry (see calculation formula below for details). The balance value reflects the overall carbon emission performance (reference level) of each industry. It is an important basis for determining the carbon emission intensity deviation and carbon emission intensity coefficient of each enterprise (production line, process). The carbon market management platform (hereinafter referred to as the management platform) makes inquiries.
\ (\ sum E=\ sum_ {i=1} ^ {p} E_ {i}\ left (1+0.15 ×\ frac {B P-I_ {i}} {B P}\ right) +\ sum_ {i=1} ^ {n} E_ {i} × 1.03+\ sum_ {i=1} ^ {m} E_ {i} × 0.97\)
In the formula: BP — industry balance value;\ (I_ {i}\) — actual carbon emission intensity of each enterprise's main process (production line) E — total verified carbon emissions of the industry;\ (\ sum_ {i=1} ^ {p} E_ {i} E_ {i} {B P})\) — sum of carbon emission quotas for enterprises (production lines, processes) with carbon emission intensity deviations greater than--- 20% and less than 20%; (\ sum_ {\ sum_ i=1} ^ {n} E_ {i}\) — the sum of verified emissions of n enterprises (production lines, processes) with carbon emission intensity deviations greater than or equal to 20%;\ (\ sum_ {j=1} ^ {m} E_ {i}\) —m carbon intensity deviations less than or equal to - the sum of verified emissions of 20% enterprises (production lines, processes).
3. The degree of deviation in carbon emission intensity of steel companies
The calculation formula for carbon emission intensity deviation in steel companies is as follows:\ (X=\ frac {B P_ {s} -I_ {s}} {B P_ {s}} × 100\%\)
In the formula: X — deviation in carbon emission intensity of steel companies, unit:%;\ (BP_ {s}\) — steel industry balance value, the ratio of emissions from key processes (ironmaking and sintering processes) corresponding to the total amount of credits to be paid by the industry in the current year to the output of ironmaking process products, in units:\ (tCO_ {2} e/t\) ironmaking process product output;\ (I_ {s}\) — key processes (ironmaking and sintering) of steel companies Process) Total emissions and ironmaking process products The ratio of production is determined based on the inspection results for the current year, in units:\ (tCO_ {2} e/t\) ironmaking process product production.
The ratio of total emissions from key processes (ironmaking and sintering processes) of steel companies to the production of ironmaking process products is calculated as follows:\ (I_ {s} =\ frac {E_ {b} +E_ {t}} {Q_ {b}}\)
In the formula:\ (E_ {b}\) — carbon emissions from the ironmaking process of a steel company, determined according to the inspection results of the current year, in units:\ (tCO_ {2} e\);\ (E_ {t}\) — carbon emissions from the sintering process of a steel company, determined according to the inspection results of the current year, in units:\ (tCO_ {2} e\);\ (Q_ {b}\) — the iron making process product output of a steel company, determined according to the inspection results of the current year, unit: t.
4. Carbon emission intensity deviation of cement clinker production line
The calculation formula for carbon emission intensity deviation for cement clinker production lines is as follows:\ (X=\ frac {B P_ {c} -I_ {c}} {B P_ {c}} × 100\%\)
In the formula: X — deviation in carbon emission intensity of cement clinker production lines, unit:%;\ (BP_ {c}\) — cement industry balance value, corresponding carbon emission intensity of cement clinker production line when the total carbon emission quota of the cement industry is equal to the total amount of quota payable by the industry in the current year, unit:\ (tCO_ {2} e/t\) clinker;\ (I_ {c}\) — clinker carbon emissions in tons of clinker production lines, determined according to the inspection results of the current year, unit: tCO (\ tCO (\) _ {2} e/t\) clinker.
5. The degree of deviation in carbon emission intensity from the aluminum electrolysis process
The calculation formula for carbon emission intensity deviation from the aluminum electrolysis process is as follows.\ (X=\ frac {B P_ {a} -I_ {a}} {B P_ {a}} × 100\%\)
In the formula: X — deviation in carbon emission intensity from the aluminum electrolysis process, unit:%;\ (BP_ {a}\) — the balance value of the aluminum smelting industry, the carbon emission intensity of the aluminum electrolysis process corresponding to when the total carbon emission quota of the aluminum smelting industry is equal to the total amount of quota to be paid by the industry in the current year, unit:\ (tCO_ {2} e/t\) aluminum;\ (I_ {a}\) — aluminum carbon emissions in tons of the aluminum electrolysis process, determined based on the inspection results of the current year, unit: {tCO_ {tCO_ {tCO_ {tCO_}\) 2} e/t\) aluminum.
(3) Special circumstances
For key emission units (units, production lines, processes) with special characteristics such as production processes, raw fuels, etc., the annual approved quota amount is equal to their actual verified carbon emissions, including the following situations:
1. Power generation industry
(1) Generators that blended biomass (including garbage, sludge, etc.) accounted for more than 20% of fuel calories per year; (2) fossil fuel combustion generators that accounted for more than 10% of the annual secondary energy heat produced by mixed combustion; (3) generators that combined biomass (including garbage, sludge, etc.) fuel heat and mixed combustion secondary energy calories accounted for more than 20% per year; (4) only used coalbed methane (coal mine gas), carbon black exhaust furnace, coke gas in the current year; (4) only used coalbed methane (coal mine gas), carbon black exhaust gas Coal gas (waste gas), blast furnace Generators with special fossil fuels such as gas, converter gas, oil shale, oil sand, combustible ice, etc.; (5) generator sets that only use self-produced exhaust gas, exhaust gas, and gas in the current year; (6) gas units converted from coal-fired boilers (except when directly converted to gas turbines); (7) fuel units, overall coal gasification combined cycle power generation (IGCC) units, internal combustion units, etc.; (8) units that perform emergency backup power generation guarantee functions; (9) generators that use hydrogen-fueled green and green in the current year Fuels such as green ammonia account for an average of more than 20 calories per year % of the generator set.
2. steel industry
A long-process steel company that uses the hydrogen-rich carbon circulating oxygen blast furnace low-carbon metallurgy process.
3. cement industry
(1) Production line that only produced white silicate cement clinker in the current year; (2) cement clinker production line with a calcium slag replacement rate of more than 30% in the current year; (3) silicate cement clinker production line with gypsum sulfuric acid by-product.
4. Power generation, steel, cement and aluminum smelting industries
(1) Companies (units, production lines, processes) that were shut down before the quota was approved; (2) new units, production lines, and processes put into operation that year; (3) enterprises that have verified greenhouse gas emissions of less than 26,000 tons of carbon dioxide equivalent in the current year.
(4) Total quota
The total annual quota for key emission units in the power generation industry is equal to the sum of the annual quotas for all generator sets owned by key emission units, the total annual quota for key emission units in the steel industry is equal to the total annual quota of a steel corporation or steel joint manufacturer, the total annual quota for all silicate cement clinker production lines owned by key emission units, and the total annual quota for all aluminum electrolysis processes owned by key emission units.
The annual quota for key emission units within each provincial administrative region is summed to obtain the total annual quota for the administrative region. The total annual quota for each provincial administrative region is added up to finally determine the total annual national quota.
4. Allocation of quotas
(i) Pre-allotted quotas and their issuance
1. Pre-distributed data reporting
In the power generation industry in 2025 and 2026, the amount of pre-allocated quota for key emission units (units, production lines, processes) in the steel, cement, and aluminum smelting industry in 2026 is, in principle, 50% of the verified emissions of the key emission unit in the previous year. Each provincial ecological environment authority can reduce the pre-allocation ratio based on the unit's compliance risk situation, production conditions, etc. The provincial ecological environment authority reviewed and determined the 20252026 pre-allocation quota for each key emission unit through the management platform. (See Annex 1 for details of the specific format) Transfer to the National Carbon Emission Rights Registration System (hereinafter referred to as the Registration System), notify key emission units, submit an official document to the National Carbon Emissions Registration Agency (hereinafter referred to as the Registration Agency), and copy to the Climate Change Response Department of the Ministry of Ecology and Environment.
2. Pre-allotted quota issuance
If an agency establishes quota targets for 2025 and 2026, the quota will be distributed to the registration account of the provincial ecological environment authority according to the official documents submitted by the provincial department in charge of ecology and environment, and the provincial ecological environment department will check and distribute pre-distributed quotas to the registration accounts of key emission units.
(ii) Approval of quotas and their issuance
1. Approval quota data submission
Based on the verified data on carbon emissions for 2025 and 2026, each provincial department in charge of ecology and environment approves the 2025 and 2026 quotas for each key emission unit within the administrative area according to the quota calculation method specified in this plan, transmits the corresponding annual approved quota data sheet (see Annex 2 for details of the specific format) to the registration system through the management platform, informs the key emission units, and submits them to the registration agency in an official document to copy the Climate Change Response Department of the Ministry of Ecology and Environment.
2. Issuance of approved quotas
According to the official documents submitted by the provincial department of ecology and environment, the registration agency distributed all quotas for 2025 and 2026 to the registration account of the provincial ecological environment department in accordance with the principle of more refunds and less subsidies, and cooperated with the provincial ecological environment department to check and issue approved quotas to the registration accounts of key emission units.
3. Changes in approved quotas
After approving the annual quota, for key emission units whose annual inspection results have changed, the provincial ecological environment department shall approve their quotas through the management platform within 10 working days after the annual inspection results are changed, and submit an official document to the competent ecological environment department to respond to climate change. For quota reductions, the registration agency cooperates with the provincial ecological environment authority to complete relevant operations such as issuing quota adjustment notices. The provincial ecological environment department shall supervise the key emission units to promptly pay back and adjust the amount of quota; for quota increases, The registration agency cooperated with the provincial department in charge of ecology and environment to supplement and increase part of the quota.
(3) Differentiated development quota allocation
For enterprises that were shut down before the quota was approved (including enterprises with units, production lines, and processes shut down), key emission units that did not fully pay the previous year's quota or had a clear risk of compliance verified by the provincial ecological environment authority, the quota is issued to the provincial ecological environment authority registration account. The provincial ecological environment authority may entrust the registration agency to assist the key emission unit to complete the settlement. If the settlement is not completed in full, the provincial ecological environment authority shall promptly supervise key emissions unit Complete payment.
5. Settlement of quotas
(1) Settlement management
At the same time as approving the issuance of quotas, provincial ecological and environmental authorities determine the corresponding annual quota payable (verified emissions) based on the verification results of the 2025 and 2026 emission reports of each key emission unit within the administrative region. The registration agency assists in issuing compliance notices to them. The compliance notice specifies matters related to the quota to be paid by the key emission unit, compliance deadlines, certified voluntary emission reduction (CCER) offset requirements, etc. Key emission units that need to adjust the payable quota are assisted by the registered agency Provincial ecological and environmental authorities will make adjustments. Key emission units should settle their quota equivalent to their verified emissions to the provincial ecological environment authority before December 31 of each year to complete the previous year's quota settlement work. Provincial ecological and environmental authorities should do a good job of preventing compliance risks. The 2019-2026 quota can be used to settle outstanding quotas from 2019 to 2024. The 2019 to 2024 quota cannot be used to clear the quota for the year 2025 and subsequent years. Payment. Quotas for 2025 and 2026 can be used to settle quotas for 2025, 2026 and subsequent years in accordance with relevant regulations.
(ii) Settlement of payments
Key emission units can use certified voluntary emission reductions registered after the launch of the National Greenhouse Gas Voluntary Emission Reduction Trading Market on January 22, 2024 to offset the settlement of carbon emission quotas for 2025 and 2026. Specific requirements are implemented in accordance with relevant regulations.
(3) Settlement service
Key emission units can use quotas from key emission units in their own industry or other industries to complete settlement. In cases where they are willing to perform but are unable to purchase quotas due to objective reasons such as bank account freezing, other enterprises may provide quotas to assist in completing settlement in conjunction with the power generation industry's settlement procedures for previous years. The registration agency issues a certificate of compliance to the key emission unit based on the completion of the contract.
This article was selected from the “Ministry of Ecology and Environment” official website, Zhitong Finance Editor: Xu Wenqiang.