[Ferro-Alloys.com] China's national-level carbon emissions trading system is expected to be a significant lever for the steel industry's carbon emissions reduction and structural optimization, experts said.

The national carbon emissions trading system, scheduled to become operational by the end of June, will first open for the power sector, to be followed by the steel industry as soon as possible, within the 14th Five-Year Plan period (2021-25), said Li Gao, head of the department of climate change at the Ministry of Ecology and Environment, CNR Business Radio reported.

To begin with, a company registered with the trading system will be allocated a specific amount of carbon emissions allowance for free, based on its history of production and carbon emissions data. If the company's carbon emissions subsequently exceed its allowance, it has to buy more allowances in the trading system.

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• [Editor:kangmingfei]