Sichuan released its first special assessment report on carbon market capacity

On May 15, 2024, at the main event of the 2024 National Low Carbon Day in Sichuan, the Sichuan Provincial Institute of Environmental Policy Research and Planning released the first special assessment report on carbon market capacity in Sichuan Province - the "Sichuan Carbon Market Capacity Improvement Action Assessment Report (2024)" (hereinafter referred to as the "Report").

It is understood that the report is jointly researched and compiled by the Sichuan Provincial Institute of Environmental Policy Research and Planning and the Tianfu Yongxing Laboratory Pollution and Carbon Reduction Assessment Research Center, mainly focusing on the main line of action to improve the capacity of the carbon market in Sichuan Province, covering six major parts: action vision and objectives, main progress results, good practice cases, main problems and challenges, future development expectations, and deepening countermeasures and suggestions.

The report points out that since the "14th Five-Year Plan", Sichuan Province's carbon market capacity building activities have been carried out extensively, and positive progress has been made in the preparation of policies and standards, data quality management, financial product innovation, judicial security services, and institutional team building.

The report emphasizes that the national carbon trading system is a new thing, a new format, a new scenario, opportunities and challenges coexist, including both national universal problems, but also Sichuan regional challenges, mainly manifested in the imbalance of carbon emission management level, data quality hidden dangers still exist, the pressure on the cost of payment and performance increases, the grassroots supervision capacity is relatively weak, and the role of carbon pricing leverage needs to be played, etc., it is urgent to identify, discover, respond to and gradually solve in the development process of the carbon market, and participate in the construction of the carbon market with high quality.

The report suggests that we should adhere to the problem-oriented and development-oriented, actively participate in and actively integrate into the national carbon emission rights and national greenhouse gas voluntary emission reduction trading, improve the development level of carbon measurement, carbon accounting, carbon assets, carbon disclosure and carbon finance, cultivate and expand carbon-related technical service institutions and carbon emission management talents, reduce the cost of payment and performance of key emitting enterprises, promote the transformation of ecological and emission reduction advantages into sustainable development advantages, and consolidate the foundation for carbon peak, carbon neutrality and high-quality development in the province.