The Provisional Regulations on the Management of Carbon Emission Trading, as an administrative regulation formulated by the State Council, have elevated China's legislation on carbon emission trading management to a milestone level. Starting from May 1st, China's Provisional Regulations on the Management of Carbon Emission Trading (hereinafter referred to as the "Regulations") have been implemented, which means that China's legal construction in the dual carbon field has taken a new step and opened up a new situation. In recent years, summers in many regions have become increasingly hot, with some areas breaking through historical extreme cold; Rainstorm and blizzard bombardment in turn, freezing rain and hail rampant for a while... Behind the increasingly frequent extreme weather is the culprit of global warming. Reducing greenhouse gas emissions and reducing the greenhouse effect to mitigate climate change is the main way to address climate change and concerns the common destiny of all humanity. In September 2020, China announced at the 75th United Nations General Assembly that it would strive to achieve carbon peak before 2030 and carbon neutrality before 2060, setting the "dual carbon" goal for China to actively respond to climate change. Carbon emission trading is an important system for controlling and reducing greenhouse gas emissions through market mechanisms. Its basic principle is to allocate carbon emission quotas with a certain period of time to each emission unit that has emission reduction obligations, based on the determination of the total annual greenhouse gas emissions. If emission units reduce their emissions, they can sell the surplus quotas and transfer them to other units for a fee. As a result, carbon emission quotas have become a tradable "asset", and each emission unit has incentives to strengthen emission reduction - the saved quota can be sold for money, and if the quota is not enough, it can be spent. For the country, it is possible to ensure the achievement of carbon reduction strategy goals through total amount control, while allowing enterprises with expanded emission demand to solve problems through purchasing quotas, avoiding rigid adherence to indicators. It can also influence different industries and enterprises through the determination and issuance of quotas, guiding the direction of industrial development. It can be said that it is an important policy tool for actively and steadily promoting the "dual carbon" goals. Therefore, China attaches great importance to carbon emission trading and vigorously promotes it. Starting from October 2011, pilot local carbon emission trading markets have been launched in Beijing, Shanghai, Guangdong and other places. The construction of a national carbon emission trading market was launched in December 2017. In July 2021, the national carbon emission trading market was officially launched for trading, becoming the largest carbon market in the world covering greenhouse gas emissions. As of the end of 2023, the market has included 2257 power generation enterprises, with a cumulative transaction volume of about 440 million tons and a transaction volume of about 24.9 billion yuan, and the initial effectiveness of the system has been demonstrated. The principle of carbon emission trading is simple, but achieving good operation is not easy. Whether it is the types and industry scope of greenhouse gases covered by the transaction, the specific products and participants in the transaction, or the total amount and allocation plan of carbon emission quotas, they are all complex and professional issues, involving significant interests, numerous factors, and highly dependent on the standardized operation and efficient services of corresponding registration and registration institutions, trading institutions, and technical service institutions. There must be a fair, transparent, scientific, professional, and comprehensive institutional system to ensure their protection. In response to this, the National Development and Reform Commission, the Ministry of Ecology and Environment, and relevant pilot local governments have successively issued corresponding regulations and
Edit：Ying Ying Responsible editor：Shen Chen
Source：http://www.legaldaily.com.cn
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