Recently, reporters learned from relevant sources that a series of regulatory policies—including the National Regulations on Carbon Emission Trading Management and the Carbon Emission Quota Allocation Plan—are set to be released soon. The allocation of carbon quotas has already begun, and the next step will be to launch the quota registration and record-keeping system and carry out assessments by third-party verification agencies.

Among these issues, how quotas are allocated will directly affect companies’ operating costs and their willingness to participate in the carbon market, making it a focal point of concern for all stakeholders. Jiang Zhaoli, Deputy Director-General of the Department of Climate Change at the National Development and Reform Commission, stated that the recently released “Interim Measures for the Administration of Carbon Emission Rights Trading” has clarified the two-tier management system for the national carbon market: At the central level, the total emission volume and quota allocation methods are determined; at the provincial level, specific allocations and compliance supervision are managed, while provinces retain some authority over quota distribution.

It is understood that, as required, the Petrochemical Industry Association and other relevant industry associations, as well as major central state-owned enterprises, have now completed their research reports on setting benchmark values for carbon emissions of key industry products and have submitted these reports to the relevant authorities. Meanwhile, related enterprises have also undertaken nationwide efforts to address the carbon market, including comprehensive inventories of carbon emissions and capacity-building initiatives. According to incomplete statistics, currently there are nearly—in the country... 300 Third-party organizations provide verification services to carbon market enterprises, and each province conducts independent bidding for these services. The industry insider mentioned above revealed that if emission-controlling enterprises fail to cooperate with the third-party verification agencies, their emission figures will be calculated based on the highest industry standards applicable in the local region, and they will be allocated allowances according to schedule and required to fulfill their obligations accordingly.

Meanwhile, the entire country will retain in the future. 7 To 8 The national-level trading institutions are tasked with providing trading services for the nationwide unified market. All these trading institutions maintain complete consistency in terms of trading rules, trading models, and management requirements, allowing enterprises to choose any one of them. Moreover, the central government is actively preparing a quota registration and record-keeping system, which will be administered by local authorities.

In addition, the policies and regulations governing the national carbon emissions trading system are continuously being refined. Recently, the Ministry of Finance drafted the “Interim Provisions on Accounting Treatment Related to Carbon Emission Rights Trading Pilot Programs” and has made them publicly available for public comment, with a deadline of... 11 Moon 18 Currently, one of the most contentious issues among various parties is whether key emission enterprises need to account for carbon emission allowances they receive free of charge from the government. As for the carbon market... “ Fundamental Law ” The “Regulations on the Administration of National Carbon Emission Trading” have also been included by the Legislative Affairs Office of the State Council in the priority legislative agenda and are expected to be promulgated soon. △ (Wang Lu)