China Releases Carbon Emissions Trading Regulations

China’s State Council has introduced new regulations governing carbon emissions trading. The regulations aim to provide a legal framework for the operation of China’s carbon emissions trading market and ensure the effectiveness of related policies.

The regulations, which will take effect from Effective on May 1, 2024, focus on the allocation of responsibilities, designating the State Council’s ecological and environmental departments to oversee and manage carbon emissions trading.

The regulations also specify details including the products eligible for trading, trading methods and the distribution of carbon emissions quotas, and stress the need to toughen the crackdown on data fabrication

According to Chinese news site Xinhua ,the national carbon emissions trading market commenced operations in July 2021, marking a significant milestone in achieving the country’s emission reduction targets.

China aims to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.