The interim regulations on the management of carbon emission trading were reviewed

　　Sinochem New Network News On January 5, the executive meeting of the State Council was held in Beijing, at which the Interim Regulations on the Administration of Carbon Emission Trading (Draft) (hereinafter referred to as the "Interim Regulations") were deliberated and approved. The scope of application of the Interim Regulations includes the supervision and management of national carbon emission trading and related activities, with the aim of standardizing carbon emission trading, strengthening the control and management of greenhouse gas emissions, promoting the realization of the goal of peaking carbon dioxide emissions and the vision of carbon neutrality, and promoting the transition of economic and social development to green and low-carbon.

　　Previously, in order to promote the construction and development of the national carbon market, in December 2020, the Ministry of Ecology and Environment issued the Administrative Measures for Carbon Emission Trading (Trial), which came into force on February 1, 2021. In July 2021, the national carbon market was launched, making it the world's largest carbon market covering greenhouse gas emissions.

　　However, with the development of the national carbon market, the asset attributes of carbon emission rights are not clear, market-related activities lack legal basis, and the supervision and reward and punishment mechanisms are not perfect, so it is urgent to provide a set of management systems for the scientific, standardized and orderly development of carbon emission trading at the legal level.

　　The "Interim Regulations" adopted this time make unified provisions on the coverage of the carbon emission trading market, the determination of key emitting units, the total amount and allocation method of allowances, the supervision of carbon emission data quality, the settlement of allowances and the operation of trading, and further improve the system of coordinated supervision to better prevent the risks of market operation, so as to promote the standardized and orderly operation and healthy and sustainable development of the national carbon emission trading market, and provide a strong legal guarantee for the realization of China's "double carbon" goal.

　　It is reported that in 2023, the Ministry of Ecology and Environment will focus on revising the previous regulations based on the new situations and new problems found in the operation of the carbon market. The amendments mainly include three aspects: first, strengthen the party's leadership, clearly stipulate that the management of carbon emission trading and related activities should adhere to the party's leadership; second, improve data quality management, add new clauses requiring key emitting enterprises to formulate and strictly implement greenhouse gas emission data quality control plans; third, strengthen legal responsibility, and stipulate strict legal liability for key pollutant dischargers and technical service institutions to tamper with data and other fraudulent behaviors.