Express News | State Council: Strengthen the development of the national carbon emissions trading market and actively promote the national greenhouse gas voluntary emission reduction trading market.

The State Council has issued the '15th Five-Year Plan (2026–2030) Action Plan for Carbon Peaking.' It calls for improving market-based mechanisms, leveraging the supportive role of carbon markets, and strengthening the national carbon emissions trading market by gradually expanding coverage to sectors such as petrochemicals and chemicals. For industries with relatively stable total carbon emissions, priority will be given to implementing a cap on total allowances. The plan emphasizes aligning total carbon allowance allocations with dual carbon control targets and prudently introducing a combined approach of free and paid allocation of carbon emission allowances. It also advocates actively developing the national greenhouse gas voluntary emission reduction trading market and promoting the use of Certified Voluntary Emission Reductions (CVERs). High-quality development of the green certificate (Green Certificate) market will be pursued, along with expanded application scenarios for Green Certificates and the establishment of robust medium- and long-term trading systems for Green Certificates and green power. Enhanced coordination among carbon markets, Green Certificates, and green power trading mechanisms will be prioritized. Additionally, the plan proposes exploring institutional frameworks that reflect the low-carbon value of non-electric applications of nuclear power and renewable energy. During the 15th Five-Year Plan period, carbon intensity per unit of output in sectors covered by the national carbon emissions trading market is expected to decline by approximately 3%, and the compliance rate for carbon allowance surrender by key emitting entities will remain at a high level. (Source: www.gov.cn)

BreakingsJul 9 17:09