Guangdong issued an implementation plan for carbon trading to support "dual carbon".
Sinochem New Network News
Recently, 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)" (hereinafter referred to as the "Plan"), proposing to include the EU carbon tariff covered industries in the Guangdong carbon market management, and explore the inclusion of non-carbon dioxide greenhouse gases in the carbon market coverage.
The plan emphasizes that it is necessary to consider the convergence of the dual control targets of total carbon emissions and intensity and the total quota targets of the carbon market, improve the coordination of carbon reduction policy tools, absorb diversified social funds, promote the participation of various carbon reduction entities, and actively and steadily promote carbon peak and carbon neutrality.
The plan clearly states that by 2025, the carbon emissions of enterprises included in carbon trading will account for 70% of the province's energy carbon emissions, and the framework system for carbon trading to support Guangdong's carbon peak work will be basically established; By 2030, a carbon market system that matches the carbon peak and carbon neutrality goals will be basically completed, market pricing will basically reflect the cost of carbon reduction, and the carbon emissions of enterprises included in carbon trading will account for 75% of the province's energy carbon emissions.
In terms of improving the carbon market development system, the plan mentions that the coverage of the carbon market should be expanded in an orderly manner. Specifically, it includes studying and carrying out the EU carbon tariff mechanism response, and integrating 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 the Guangdong 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. At the same time, it is also necessary to improve the market performance offset mechanism, strengthen the linkage between the carbon market and the voluntary emission reduction mechanism, improve the management and offset mechanism of carbon emission rights, and increase the proportion of carbon market consumption of carbon inclusive emission reductions within a reasonable range.
In terms of strengthening the basic capacity building of the carbon market, the plan mentions that the quality of carbon market data should be strictly controlled. Strengthen the construction of grassroots teams for carbon emission statistics and accounting of emission control enterprises, and improve accounting capabilities and levels; Strengthen the ability to collect and process relevant statistical information in the fields of energy and industry, and gradually establish and improve the statistical system of activity level data that is compatible with the requirements of the national carbon market and the Guangdong carbon market for carbon emission statistics and accounting; Strengthen the statistical monitoring capacity of emission control enterprises in the electric power, steel, cement, petrochemical and other industries.
In terms of improving the coordinated development mechanism of policies, the plan mentions that it is necessary to strengthen the linkage between the carbon market and energy efficiency management. Combined with the energy-saving and carbon-reduction transformation activities and energy efficiency benchmarking actions in key industries such as iron and steel, petrochemicals, etc., explore the establishment of a benchmark value system for carbon quotas in the industrial field that is connected with energy consumption quotas and energy efficiency standards for products and equipment, and further improve the scientificity and rationality of carbon quota allocation.
