The national carbon market has been cleared and implemented

　　Liu Youbin, spokesman for the Ministry of Ecology and Environment, said on August 28 that the national carbon emission trading market has recently launched the issuance and performance of allowances in 2021 and 2022. At present, the issuance of quotas has been basically completed, and the work of clearing and fulfilling the contract has been in full swing.

　　Liu Youbin said that in 2021 and 2022, more than 2,200 power generation enterprises were included in the issuance and implementation of allowances, and the performance and quota settlement time for each biennium were until the end of 2023, and each key emitting enterprise could use the national certified voluntary emission reduction (CCER) to offset 5% of the annual quota payable each year.

　　Liu Youbin said that it should be noted that in order to do a good job in the bail-out of enterprises, the Ministry of Ecology and Environment has specially studied and formulated a flexible performance policy, and enterprises with large quota gaps can advance part of the quota in 2023 for the current settlement, but this policy is limited to 2021 and 2022 and will not be implemented in the future. At present, the distribution of quotas has been basically completed, and the work of clearing and fulfilling the contract has been in full swing.

　　Liu Youbin said that in order to further improve the carbon emission market trading system, improve the market function, on the basis of consolidating the quality of carbon emission data, the Ministry of Ecology and Environment to promote the introduction of the "Interim Regulations on the Management of Carbon Emission Trading", organize the preparation of the next compliance cycle quota allocation plan, study the roadmap for expanding industry coverage, and strive to launch the national greenhouse gas voluntary emission reduction trading market as soon as possible this year, and effectively play the important role of the market mechanism in controlling greenhouse gas emissions and promoting green and low-carbon technology innovation.

　　An industry insider told reporters that the new compliance cycle as a whole reflects the attitude of precise control: in the approval stage, the quota is issued to the account of the provincial ecological and environmental authority, and the provincial ecological and environmental department will issue the compliance notice to the key emitting enterprises; This strengthens the depth of participation of provincial health and environmental authorities in the carbon market. Most importantly, in the differentiated quota allocation in the new cycle, provincial-level departments are given the right to enforce quota settlement.

　　In response to Liu Youbin's proposal to "strive to launch the national voluntary greenhouse gas emission reduction trading market as soon as possible within this year", the petrochemical industry expressed its eagerness. It is understood that about 30 captive power plants in the petrochemical industry have been included in the national carbon market, but this is only a drop in the bucket compared to the volume of the entire petrochemical industry. The industry generally believes that if the national greenhouse gas voluntary emission reduction trading market is reopened, it is expected to reduce the carbon compliance costs of emission control enterprises, including petrochemical enterprises, and also help petrochemical enterprises to tap new value.