解读《温室气体自愿减排交易管理办法（试行）》
为进一步规范全国温室气体自愿减排交易，以推动实现碳达峰和碳中和目标，生态环境部联合国家市场监管总局已经修订了原有的《温室气体自愿减排交易管理暂行办法》并制定了新的《温室气体自愿减排交易管理办法（试行）》。此举是为了确保减排交易及相关活动的合规性与有效性。
To further standardize the national voluntary greenhouse gas emissions trading, in order to promote the achievement of carbon peaking and carbon neutrality goals, the Ministry of Ecology and Environment, in conjunction with the State Administration for Market Regulation, has revised the original “Interim Measures for the Administration of Voluntary Greenhouse Gas Emissions Trading” and formulated the new “Measures for the Administration of Voluntary Greenhouse Gas Emissions Trading (Trial).” This step has been taken to ensure the compliance and effectiveness of emissions trading and related activities.
经过为期三个月的征求意见期，于2023年10月19日正式发布并实施了新的《管理办法》，10月24日，生态环境部依据该《管理办法》发布了《关于全国温室气体自愿减排交易市场有关工作事项安排的通告》，此通告对《管理办法》的一些具体规定进行了进一步细化与明确。这一系列举措旨在更好地管理和推进温室气体减排交易，为实现我国碳减排目标提供坚实的法规支持。下面我们也将聚焦关注重点，进行解读。
After a three-month period of soliciting opinions, the new “Regulations” were officially published and implemented on October 19, 2023. On October 24, the Ministry of Ecology and Environment, in accordance with these “Regulations,” issued a “Notice on the Arrangements for Work Related to the National Greenhouse Gas Voluntary Emissions Trading Market,” which further elaborated and clarified some specific provisions of the “Regulations.” This series of measures aims to better manage and promote greenhouse gas emissions trading and provide solid legal support for achieving China’s carbon reduction goals. Next, we will also focus our attention on key areas for interpretation.
- 明确了建立全国统一的交易市场和登记机构
- Clarified that a national unified trading market and registration agency will be established.
减排交易管理办法再次明确了生态环境部的责任，即负责建立全国统一的温室气体自愿减排注册登记机构和全国温室气体自愿减排交易机构，同时组织建立两个机构所需的登记系统和交易系统。国家核证自愿减排量交易平台的网站（https://ccer.bjets.com.cn）在今年8月份已重新更新了有关CCER账户开立、注册以及旧账户转移的相关信息。此外，注册登记系统的网站（http://registry.ccersc.org.cn/login.do）也已对外开放。尽管如此，目前尚未公布两套系统的具体运作细则和负责系统运作的具体机构，暂行处理注册登记账户相关事宜的机构为北京绿色交易所。
The Emission Reduction Trading Regulations reaffirm the responsibilities of the Ministry of Ecology and Environment, which include establishing a national unified registration agency for voluntary greenhouse gas emissions reduction and a national voluntary greenhouse gas emissions reduction trading organization. Additionally, the Ministry is responsible for organizing the development of the necessary registration and trading systems for these two organizations. In August of this year, the website of the National Verification Voluntary Emission Reduction Trading Platform (https://ccer.bjets.com.cn) was updated to provide information on CCER account opening, registration, and the transfer of old accounts. Furthermore, the registration system’s website (http://registry.ccersc.org.cn/login.do) is now open to the public. However, the specific operational rules for both systems and the entities responsible for their operation have not been officially announced. The Beijing Green Exchange currently handles matters related to account registration on an interim basis.
两个机构和两套系统的设立意味着减排量的登记和交易过程将在管理机构和流程上有一定的区分。项目的核验和减排量生成过程将由注册登记机构管理，而交易机构将承担类似证券交易所的职责。
此外，本次减排交易管理办法在第七条第三款新增了“交易机构应当按照国家有关规定采取有效措施，维护市场健康发展，防止过度投机，防范金融等方面的风险”的规定。这一规定旨在认识到温室气体减排项目的潜在金融属性，并向试图参与温室气体减排交易的相关机构表明监管要求。鉴于目前证券和金融市场的监管态度，市场参与者应审慎对待监管要求，提高合规意识。
The establishment of two organizations and two sets of systems implies that there will be distinctions in the management and processes of emissions registration and trading. The verification and emissions reduction generation processes will be overseen by the registration agency, while the trading organization will assume responsibilities similar to those of a securities exchange.
Furthermore, this revision of the Emission Reduction Trading Regulations, in Article 7, paragraph 3, has introduced a provision stating that “trading organizations shall take effective measures in accordance with relevant national regulations to maintain the healthy development of the market, prevent excessive speculation, and guard against financial risks.” This provision aims to recognize the potential financial aspects of greenhouse gas emissions reduction projects and convey regulatory requirements to entities seeking to participate in greenhouse gas emissions trading. Given the current regulatory stance in the securities and financial markets, market participants should exercise caution regarding regulatory requirements and enhance their compliance awareness.
来源：雪球网
Source: xueqiu.com
- 加强自律监管和事后监管
- Strengthen self-regulation and post-regulation.
减排交易管理办法强调了更为市场化的自律监管，明确了政府机构主要进行事后监管的原则。根据第十三条的规定，审定核查机构必须在审定报告中提供明确的肯定或否定结论，同时在第三十条中，明确要求审定核查机构需遵守《中华人民共和国认证认可条例》和《认证机构管理办法》的相关规定，以纳入市监总局的监管体系。此外，减排交易管理办法第十八条规定，业主不得将同一个减排项目的减排量登记和减排量核查委托给同一审定核查机构，以防止审定核查机构自我审查的情况，从而间接增强了行业的自律监管，降低了审定核查机构的道德风险。
这一强调市场化交易的做法，是为了贯彻“放管服”相关要求，将项目减排和减排量核查的职责交由市场化机构，以强化事后监管，从而促进整个市场的发展。
The Emission Reduction Trading Regulations emphasize a more market-oriented self-regulation and clearly outline the principle of government agencies primarily conducting post-regulation. According to Article 13, verification and validation organizations must provide clear affirmative or negative conclusions in their verification reports. Furthermore, as stated in Article 30, these organizations are required to comply with relevant provisions in the “Regulations on Certification and Accreditation of the People’s Republic of China” and the “Measures for the Administration of Certification Bodies” in order to be included in the supervision system of the State Administration for Market Regulation.
Additionally, in accordance with Article 18 of the Emission Reduction Trading Regulations, project owners are not allowed to entrust the same verification and validation organization for emissions registration and emissions verification for the same emissions reduction project. This is done to prevent situations of self-review by verification and validation organizations, indirectly enhancing industry self-regulation and reducing moral risks associated with these organizations.
This emphasis on market-oriented trading is in line with the requirements of “streamlining administration, delegating powers, and improving regulation and services,” which delegate the responsibilities of project emissions reduction and emissions verification to market-based organizations to strengthen post-regulation and promote the overall development of the market.
- 市场化监管
- Market-oriented Regulation
减排交易管理办法第六章关于监督管理的部分强调了更为市场化的监管方式，删除了与具体监管细节相关的表述，转而强调“对真实性和合法性的组织监督检查”。此外，管理办法还规定了省级以上生态环境主管部门可以采用政府购买服务等方式，委托合法成立的技术服务机构来提供监督检查方面的技术支持，为今后政府通过市场聘请专业人士，以解决温室气体减排项目相关技术问题，并协助监管工作，提供了先期准备。这一举措旨在加强对减排交易的市场化监管，确保项目的真实性和合法性。
The sixth chapter of the Emission Reduction Trading Management Measures emphasizes a more market-oriented approach to supervision and management. It removes specific regulatory details and instead focuses on “supervision and inspection of authenticity and legality.” Furthermore, the management measures stipulate that ecological and environmental authorities at or above the provincial level can utilize methods such as government procurement of services to commission legally established technical service organizations to provide technical support for supervision and inspection. This paves the way for the government to hire professionals through the market in the future to address technical issues related to greenhouse gas emission reduction projects and assist in regulatory efforts. This initiative aims to strengthen market-based oversight of emission reduction trading and ensure the authenticity and legality of projects.
- 自愿减排交易
- Voluntary Emission Reduction Transition
《管理办法》规定，自愿减排交易必须经由交易系统完成，允许采取挂牌协议、大宗协议、单向竞价以及其他符合规定的交易方式，延续了《暂行办法》的规定。为确保交易主体能及时更新核证自愿减排量的持有数量和持有状态等相关信息，北京绿色交易所将通过注册登记系统提供相应支持。
此外，《管理办法》还对核证自愿减排量的使用做出了简要规定：核证自愿减排量根据国家相关规定可用于抵销全国碳排放权交易市场和地方碳排放权交易市场的碳排放配额清缴、大型活动碳中和以及抵销企业温室气体排放等用途。在这种情况下，核证自愿减排量应在注册登记系统中进行注销。此外，各参与主体也有权出于公益目的自愿注销其所持有的核证自愿减排量。
The “Regulations” stipulate that voluntary emissions trading must be conducted through the trading system, allowing for various trading methods such as negotiated agreements, bulk agreements, one-way bidding, and other methods in accordance with regulations, continuing the provisions of the “Interim Measures.” To ensure that trading entities can promptly update the information related to the quantity and status of their verified voluntary emissions reductions, the Beijing Green Exchange will provide corresponding support through the registration system.
Furthermore, the “Regulations” also provide brief guidelines for the use of verified voluntary emissions reductions: These reductions can be used in accordance with national regulations for offsetting carbon emission quotas in the national carbon emissions trading market and local carbon emissions trading markets, carbon neutrality in large-scale events, and offsetting greenhouse gas emissions by enterprises, among other purposes. In such cases, verified voluntary emissions reductions should be canceled in the registration system. Additionally, all participating entities have the right to voluntarily cancel their holdings of verified voluntary emissions reductions for charitable purposes.
- 期望与国际市场联动
- Expecting linkage with international markets
减排交易管理办法第二十九条继续保留了原征求意见稿中关于跨境交易的相关观点。在潜在的大规模温室气体减排量市场下，已经存在较为成熟的市场体系（如GS/VCS）的国外机构对未来的减排市场寄予厚望。同时，欧盟的CBAM（碳关税调节机制）在本月初开始试运行，经过约一年的过渡期后将于2026年正式实施。CBAM的启用实际上在一定程度上迫使其他国家改变政策，加剧了各大经济体之间关于碳定价主导权的争夺。作为全球气候治理体系的重要一部分，我国迫切需要尽快重新启动与温室气体减排相关的市场，以满足未来挑战的需求。
Article 29 of the Emission Reduction Trading Regulations continues to retain the relevant views on cross-border trading as outlined in the original draft for public opinion. In the potential large-scale greenhouse gas emissions reduction market, foreign institutions with mature market systems (such as GS/VCS) have high expectations for the future emissions market. At the same time, the EU’s Carbon Border Adjustment Mechanism (CBAM) began trial operations at the beginning of this month and is set to be officially implemented in 2026 after approximately one year of transition. The activation of CBAM has, to a certain extent, forced other countries to change their policies, intensifying the competition among major economies for dominance in carbon pricing.
因此，我们需要尽快建立完善而稳定的碳定价机制。作为全球气候治理系统的重要组成部分，中国迫切需要重新启动与温室气体排放相关的市场，以满足未来挑战的需求。仲欧脱碳科技（CNEUCN）通过其科学委员会（ScC）和专家咨询委员会（EAB）的活动，可以为在中国实施自愿温室气体（GHGs）排放交易做出贡献。CNEUCN的使命和核心活动与实施自愿GHGs排放交易的目标完全一致，因为他们提供了在减排和交易各个方面的知识、支持和专业知识。
Therefore, we need to establish a comprehensive and stable carbon pricing mechanism as soon as possible.As a crucial component of the global climate governance system, China urgently needs to restart greenhouse gas emissions-related markets to meet the demands of future challenges. China Europe Carbon Neutral Technology (CNEUCN) by the activities of its Scientific Committee (ScC) and the Experts’ Advisory Board (EAB) can contribute to the implementation of voluntary greenhouse gases (GHGs) emission trading in China. CNEUCN’s mission and core activities are fully aligned with the goals of implementing voluntary GHGs emissions trading, as they offer knowledge, support, and expertise across various aspects of emissions reduction and trading.
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For more information and further details please write to: [email protected]
仲欧脱碳科技有限公司中欧碳中和可持续城市发展平台项目将由为此项目成立的同名私营公司运营，旨在通过聚集各方优势，针对每一个课题制定出量身打造的解决方案，以全面和包容的工作方式为中国和欧洲的碳中和之路添砖加瓦。
仲欧脱碳科技 有限公司该平台将发挥积极和创新的作用，为实现碳中和所需的构想、塑造、设计和实现转型提供服务。
China Europe Carbon Neutral Technology aims to support and substantially contribute to China and Europe path towards carbon neutrality in a holistic and inclusive way by gathering all the stakeholders and creating solutions for each challenge.
China Europe Carbon Neutral Technology will play an active and innovative role in providing services to conceive, shape, design and accomplish the transitions needed to achieve carbon neutrality.
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