Carbon emission rights trading is an important policy tool to control and reduce greenhouse gas emissions such as carbon dioxide through market mechanisms and to help actively and steadily promote carbon peak and carbon neutrality. Since the launch of online trading, the national carbon emission rights trading market has been operating smoothly as a whole, covering an average annual carbon dioxide emission of about 5.1 billion tons, accounting for more than 40% of the country's total emissions. By the end of 2023, a total of 2,257 power generation companies will be included in the national carbon emission rights trading market, with a cumulative trading volume of about 440 million tons and a trading volume of about 24.9 billion yuan. The policy effect of carbon emission rights trading has initially emerged.
Previously, my country had no laws or administrative regulations on the management of carbon emission rights trading. The operation and management of the national carbon emission rights trading market was implemented in accordance with the regulations and documents of the relevant departments of the State Council. The legislative level was low and the authority was insufficient. It was difficult to meet the actual needs of regulating trading activities, ensuring data quality, and punishing illegal acts. It is of great significance to formulate special administrative regulations to provide a clear legal basis for the operation and management of the national carbon emission rights trading market, and to ensure and promote its healthy development.
It is reported that Premier Li Qiang recently signed a State Council order to announce the "Interim Regulations on Carbon Emission Trading Management" (hereinafter referred to as the "Regulations"), which will come into effect on May 1, 2024. The "Regulations" have a total of 33 articles, among which key emission units should take effective measures to control greenhouse gas emissions, formulate and strictly implement greenhouse gas emission data quality control plans in accordance with relevant national regulations and technical specifications formulated by the State Council's ecological and environmental authorities, and use metrological instruments that have been qualified or calibrated by metrological verification in accordance with the law to carry out greenhouse gas emission-related inspections and tests. At the same time, prevent and punish the falsification of carbon emission data. It mainly makes clear provisions in terms of strengthening the main responsibilities of key emission units, strengthening the management of technical service agencies, strengthening supervision and inspection, and increasing penalties.