On August 23, the Guangdong Provincial Department of Ecology and Environment issued the "Implementation Plan for Carbon Trading in Guangdong Province to Support Carbon Peak and Carbon Neutrality (2023~2030)".
The plan proposes that by 2025, the carbon emissions of enterprises included in carbon trading in Guangdong will account for 70% of the province's energy carbon emissions. The total amount of carbon quota setting and allocation mechanism and the "dual control" requirements of carbon emissions have been effectively connected, the synergy between the carbon market and policy tools such as green power and carbon labeling has emerged, and positive progress has been made in the construction of the carbon market in the Guangdong-Hong Kong-Macao Greater Bay Area.
The plan also proposes to study and carry out the EU carbon tariff mechanism to deal with it, and include the EU carbon tariff covered industries into the management of the Guangdong carbon market. Study lowering the entry threshold for projects with high energy consumption, high emissions, and low levels to be included in Guangdong's carbon market, and expand the coverage of the carbon market. Explore the inclusion of non-carbon dioxide greenhouse gases such as methane, nitrous oxide, sulfur hexafluoride, hydrofluorocarbons, perfluorocarbons, and nitrogen trifluoride into the coverage of the carbon market, and establish a non-carbon dioxide greenhouse gas accounting technology system, data statistics and reporting system.