The leading group to establish the carbon emission accounting system will be headed by the Department of Resource Conservation and Environmental Protection of NDRC and the National Bureau of Statistics.
On 15 September, the State Council communicated the formation of a leading group to establish accurate and overarching carbon emissions accounting in all of China’s provinces. During the meeting, the officials stressed that statistical data on industrial emissions are an integral prerequisite for effective emissions reduction.
Nevertheless, many firms would still be in the stage of establishing their technical abilities to account for indirect and direct carbon emissions. According to WEI Zijie, CEO of Longyuan (Beijing) Carbon Asset Management Technology Co., Ltd, inaccurate monitoring facilities made reporting difficult and caused ineffective cost calculations with grave financial consequences. In the future, multiple comprehensive indicators would guide the collection, the standardized analysis, and the reporting of emission data, WEI said.
The leading group to establish the monitoring, reporting, and verification (MRV) system will be headed by the Department of Resource Conservation and Environmental Protection and the National Bureau of Statistics. Further agencies to be involved in the process of establishing the accounting system are the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Natural Resources, and the Ministry of Ecology and Environment, as well as more than twenty other government entities.