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Views: 46 Author: Patrick Publish Time: 2025-08-26 Origin: Site
The carbon market is an important policy tool for proactively addressing climate change and accelerating the comprehensive green transformation of economic and social development through market mechanisms. Currently, China has established a national carbon emission rights trading market (for key emitters to fulfill mandatory emission reduction responsibilities) and a national greenhouse gas voluntary emission reduction trading market (to encourage voluntary emission reduction across society).
As of the end of July 2025, the cumulative trading volume of quotas in the national carbon emission rights trading market reached 681 million tons, with a total turnover of 46.784 billion yuan. The cumulative trading volume of certified voluntary emission reductions (CVERs) stood at 2.4603 million tons, with a total turnover of 208 million yuan.
In 2024, a total of 2,096 key emitters were included in the national carbon emission rights trading market, with a quota compliance rate of nearly 100%.
By 2027: The national carbon emission rights trading market will basically cover major emission-intensive industries in the industrial sector; the national greenhouse gas voluntary emission reduction trading market will achieve full coverage of key areas.
By 2030: Establish a national carbon emission rights trading market based on total quota control, combining free and paid allocation; build a credible, transparent, unified-method, widely-participated, and internationally aligned national greenhouse gas voluntary emission reduction trading market; form a carbon pricing mechanism with remarkable emission reduction effects, improved rule systems, and reasonable price levels.
Scientifically set the total quota volume, and gradually shift from intensity-based control to total quantity control. By 2027, prioritize total quantity control for industries with relatively stable carbon emissions. Steadily promote the combination of free and paid allocation of carbon emission quotas, and orderly increase the proportion of paid allocation. Reasonably determine the proportion of CVERs used to offset quota compliance.
Strengthen the whole-chain management of voluntary emission reduction project development, validation, implementation, and emission reduction verification.
Steadily advance financial institutions in exploring and developing green financial products and services related to carbon emission rights and CVERs, and increase support for greenhouse gas emission reduction.
Timely introduce other non-compliance entities into the national carbon emission rights trading market. Gradually allow eligible natural persons to participate in the national greenhouse gas voluntary emission reduction trading market.
Establish a risk assessment, early warning, and management system for the compliance of key emitters to prevent compliance risks.
Improve the corporate greenhouse gas emission reporting system. Implement monthly deposit of key parameters for key emitters.
Improve verification technical specifications for key industries, clarify verification priorities and requirements, and standardize verification processes.
Consolidate the main responsibility of key emitters for carbon emission accounting and reporting, and promote enterprises to establish and improve internal management systems for carbon emission data quality. Local ecological environment and market supervision departments, together with relevant authorities, shall strengthen daily supervision of carbon emission data, and comprehensively use big data, blockchain, Internet of Things and other technologies to improve supervision capabilities.
Vigorously cultivate technical service industries such as consulting, inspection and testing, validation and verification; conduct regular evaluations to promote the healthy development of the third-party technical service market; foster more international professional service institutions.
Source: https://www.gov.cn/zhengce/202508/content_7037763.htm
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