On 26 May 2021, the first plenary meeting of the Carbon Peaking and Neutrality Leading Group was held in Beijing. The meeting was chaired by Vice Premier HAN Zheng. During the meeting, it was emphasized that key provinces, sectors, and companies should set peaking targets and plans as well as strengthen international communication and cooperation. The government should support the research, development, and promotion of green and low-carbon technologies, telling China’s story well through case studies, and promote ecological civilization. In addition to HAN Zheng, participants included Vice Premier LIU He, State Councilor WANG Yong, Minister for Foreign Affairs WANG Yi, Chairman of the National Development and Reform Commission (NDRC) HE Lifeng, and ministers from the Ministry of Ecology and Environment (MEE) and various other ministries. On 28 May 2021, NDRC Chairman HE Lifeng presided over the first meeting of the ‘Carbon Peaking and Carbon Neutral Leading Group Office’, which called for the implementation of important instructions from Premier LI Keqiang and Vice-Premier HAN Zheng and made preparations for upcoming work.
China’s State Council Released the Interim Regulations on Carbon Emissions Trading Management
The State Council of China has released the first legal framework for carbon market governance. The new regulatory framework provides clearer and stricter guidelines compared to previous rules, including penalties for falsification of emissions data and institutional support for a functional operation of China’s Emission Trading System (China ETS). The new regulations will take effect from May 1st, 2024.
February 5, 2024
