Hot comment of this newspaper: focus on the three dimensions of enterprises, government and market, and promote the capacity building of the carbon market

The "Interim Regulations on the Administration of Carbon Emission Trading" (hereinafter referred to as the "Regulations") was recently publicly released, which is the first special regulation in the field of climate change in China, and for the first time in the form of administrative regulations to clarify the carbon emission market trading system, which is a milestone and will provide a strong legal guarantee for the healthy development of China's carbon market, and open a new situation of rule of law in China's carbon market.

The work of the carbon market is systematic, cyclical and professional, involving a long process and many subjects, and there is a long way to go in legality management. Key emitting entities, technical service institutions, registration and trading institutions, governments and other carbon market participants are all high-frequency words in the Regulations. The author believes that to effectively implement the "Regulations", it is necessary to focus on the outstanding problems in the construction, operation and management of the current carbon market, give full play to the role of all participants in the carbon market, and carry out carbon market capacity building from the three dimensions of enterprises, governments and markets.

The first is to grasp the source and improve the ability of enterprises to manage carbon emissions and carbon assets. Strict data quality management requirements and compound penalties are the focus of the Regulations, and after the implementation of the Regulations, if enterprises do not comply with the laws and regulations in the carbon market, they may not only suffer economic losses, but also face the risk of dishonesty.

In this regard, enterprises should give full play to their main responsibilities, strengthen their awareness of internal management, promote the establishment of leading institutions and management departments for carbon emission or carbon asset management, strengthen the introduction and cultivation of carbon emission management talents such as measurement, testing, accounting, and trading, and establish and expand carbon asset management teams. Qualified enterprises can also set up special carbon asset management companies to improve the level of specialization and informatization of carbon asset management. Improve the relevant rules and regulations for the management of corporate carbon emissions, standardize the formulation and implementation of quality control plans for greenhouse gas emission data, continue to revise and improve the relevant systems and regulations, operating procedures and statistical reports related to measurement records, sampling and sample preparation, inspection and testing, accounting reports, transaction performance, financial accounting, internal audit and internal control, and adjust and optimize statistical elements and cycles. Benchmarking the technical specifications and national standards of the carbon market related to the monitoring of data against the table, improving the timeliness of key work nodes, improving compliance around weak links in data quality, strengthening the equipment and verification and calibration of metering instruments and meters, standardizing the "collection, production, inspection, delivery and storage" processes of fuel and raw materials, and strengthening the digitization, standardization and systematic management of record ledgers. Strengthen the monitoring and analysis of the carbon market, optimize the carbon asset trading strategy, actively adopt a portfolio performance method, control or even reduce the cost of carbon market clearance and performance, and prevent risks such as trading and default.

The second is to strengthen governance and improve the government's multi-dimensional and cross-departmental supervision capabilities. In the process of promoting the healthy development of the carbon market, the competent department of ecology and environment plays a key role and is the vanguard and main force in the construction and supervision of the carbon market. Multiple measures should be taken to mobilize the enthusiasm of relevant departments, consolidate the responsibility of local supervision, interpret and publicize the "Regulations" and related policy documents and technical specifications through various forms, and improve the display, awareness and practice rate of key clauses, important contents, and key nodes. Formulate or revise supporting systems in a timely manner for the quality management of enterprise greenhouse gas emission data, the management of verification technical service institutions, and incentives for the settlement of carbon emission allowances.

Focusing on areas with a large number of enterprises that have been included or planned to be included in the national carbon market, we will focus on provincial and municipal ecological and environmental departments and law enforcement agencies, and focus on the data quality management of key emitting enterprises, the service compliance of technical service institutions, and the settlement and performance of carbon emission allowances of key emitting enterprises, strengthen the establishment of posts, staffing and capacity building, improve the ability of supervision and law enforcement, and promote the supervision of the carbon market. Strengthen departmental coordination and linkage, establish a cross-departmental collaborative working mechanism for carbon emission data management between different regions, study data exchange and information sharing methods with relevant departments such as metering, energy conservation, energy, and industry, expand the coverage of carbon emission data supervision, enhance cross-verification of different data sources, and strive to eliminate regulatory gaps and form a cross-departmental regulatory force.

The third is to lay a solid foundation and enhance the market's professional and diversified service capabilities. In the process of implementing the Regulations, all localities should take the cultivation of professional and standardized high-quality technical service institutions as an important starting point for the capacity building and improvement of the carbon market, encourage high-quality consulting, inspection and testing, verification and other technical service institutions to standardize their business, strengthen the construction of local technical support institutions and teams, and strengthen the support and services for supervision and law enforcement.

Give full play to the role of regional centers for carbon market capacity building and other institutions, meet the different business capacity needs of ecological and environmental departments, key emitting enterprises, and technical service institutions, focus on important contents such as laws and regulations, data quality, transaction performance, and system platforms, carry out carbon market capacity building activities at multiple levels, enrich carbon market capacity building training channels, improve the quality and adaptability of training, and help cultivate and expand the professional team of carbon emission managers. We will further give full play to the role of relevant industry associations, carry out carbon market capacity building actions with industry characteristics and meet industry needs, promote the integration of carbon market regulatory requirements with industry development and self-discipline system, and reduce the risk of enterprises violating laws and regulations and defaulting on regulations. Focusing on key links such as data quality and transaction performance, we will regularly collect and publish positive and negative typical cases and judicial cases in the carbon market, share good practice cases, and create a good public opinion environment and social atmosphere.

Author's Affilications:Sichuan Provincial Institute of Environmental Policy Research and Planning