ICF International Wins €5 Million Contract to Support Development of Emissions Trading Systems in ChinaRead Now
ICF International, a technology solutions provider, has been awarded a €5 million contract by the European Commission's Directorate - General for Development and Cooperation, known as EuropeAid, to support the design and implementation of greenhouse gas (GHG) emissions trading systems (ETS) in China.
China is one of the world's leading GHG emitters, and the Chinese government has initiated ambitious efforts to address climate change as a major part of its economic and social development planning. A key component of these efforts is the development of GHG emissions trading, a market-based strategy that will play a significant role in helping China meet its GHG mitigation targets cost effectively. The development of China’s ETS is being watched closely by many other countries and regions that are developing and implementing their own emissions trading systems and other carbon market mechanisms.
The European Union (EU) has gone through a process of establishing an ETS across its 28 member states, plus three countries from the European Economic Area, and is in a position to share lessons from its substantial experience on establishing infrastructure for and operating an ETS. This high-profile, three year EU-funded project will make a significant contribution to the continued development of an ETS in China through the provision of training and other forms of technical assistance to Chinese stakeholders, including national government policy makers, research institutes, pilot ETS authorities, industry, and third-party organizations. The project will facilitate the exchange of expertise from EU experience on ETS and strengthen the partnership between the EU and China on ETS development.