The Multilateral Cooperation Center for Development Finance (MCDF)

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.

On 7 November 2023, the Ministry of Ecology and Environment, in collaboration with ten other ministries and commissions, including the Ministry of Foreign Affairs, unveiled a much-anticipated action plan aimed at curtailing methane emissions. This document’s release is a pivotal moment in China, the world’s foremost methane emitter.

The Ministry of Ecology and Environment (MEE) has released its annual white paper in October 2023, detailing China’s policies and actions in addressing climate change. The report, titled “China’s Policies and Actions to Address Climate Change”, provides an overview of China’s recent initiatives and strategies in environmental management and sustainability.