全国碳市场建设正在进一步加快。 《中共中央办公厅国务院办公厅关于推进绿色低碳转型加强全国碳市场建设的意见》（下称《意见》） 于8月25日正式对外公布。 《意见》提出，到2027年，全国碳排放权交易市场基本覆盖工业领域主要排放行业，全国温室气体自愿 减排交易市场实现重点领域全覆盖。到2030年，基本建成以配额总量控制为基础、免费和有偿分配相结 合的全国碳排放权交易市场，建成诚信透明、方法统一、参与广泛、与国际接轨的全国温室气体自愿减 排交易市场，形成减排效果明显、规则体系健全、价格水平合理的碳定价机制。 具体看，《意见》包括了总体要求、加快建设全国碳排放权交易市场、积极发展全国温室气体自愿减排 交易市场、着力提升碳市场活力、全面加强碳市场能力建设、加强组织实施保障等六个方面17条措施。 业内专家对第一财经分析表示，《意见》有三大特点，一是基于国家温室气体排放控制要求，结合自愿 减排市场和碳配额市场扩围，加强非二氧化碳排放控制管控，推动氟化物、甲烷等温室气体减排。二是 结合碳双控工作推进，加强碳配额总量管理，推出有偿配额发放，切实推动部分行业降低碳排放，助力 碳达峰目标。三是稳妥推进碳金融、碳信息披露等工作，与国 ...

Core Viewpoint - The document outlines China's commitment to building a more effective, vibrant, and internationally influential national carbon market as a key policy tool for addressing climate change and promoting green transformation in the economy and society [1] Group 1: Current Status of the National Carbon Market - China has established a national carbon emissions trading market and a voluntary greenhouse gas reduction trading market, which together form a comprehensive national carbon market system [2] - As of July 2025, the cumulative trading volume of carbon emission allowances reached 681 million tons, with a transaction value of 46.784 billion yuan, indicating the market's growing effectiveness [2] - The number of key emission units included in the national carbon emissions trading market is 2,096, with a compliance rate of nearly 100% for allowance surrender [2] Group 2: Development Goals and Roadmap - The document sets a clear roadmap for the medium- and long-term development of the national carbon market, with specific targets to be achieved by 2027 and 2030 [4] - It emphasizes the need to enhance market functions, expand the coverage of industries and greenhouse gases, and establish a transparent carbon allowance management system [4] - The focus will be on gradually shifting from intensity control to total control of carbon emissions, while implementing a combination of free and paid allocation of allowances [4] Group 3: Market Dynamics and Governance - The construction of the national carbon market aims to create a low-carbon development awareness among society, emphasizing that carbon emissions have costs while reductions yield benefits [3] - The government plays a crucial role in establishing the regulatory framework and risk prevention systems, while the market focuses on resource allocation efficiency [7] - Balancing market vitality with regulatory oversight is essential to ensure the healthy and orderly development of the carbon market [7] Group 4: International Cooperation and Standards - The carbon market is seen as a means to enhance international cooperation in green and low-carbon development, with an emphasis on aligning with international standards [8] - The design of the national carbon market will include provisions for international engagement, aiming to boost its global influence and facilitate cross-border cooperation in green technology and industries [8]

Core Viewpoint - The new policy aims to enhance the national carbon market construction and promote green and low-carbon transformation, with specific targets set for 2027 and 2030 [1][2]. Group 1: National Carbon Market Development - By 2027, the national carbon emission trading market will cover major emission industries in the industrial sector, and the voluntary greenhouse gas reduction trading market will achieve full coverage in key areas [1]. - By 2030, a national carbon emission trading market based on total quota control, combining free and paid allocation, will be basically established [1]. - The policy emphasizes expanding the coverage of the national carbon emission trading market and improving the carbon emission quota management system [1]. Group 2: Voluntary Emission Reduction Market - The policy calls for accelerating the construction of the voluntary emission reduction trading market and promoting the application of certified voluntary emission reductions [2]. - It encourages government agencies, enterprises, and social organizations to actively use certified voluntary emission reductions to offset carbon emissions [2]. Group 3: Market Vitality Enhancement - The policy proposes to enhance market vitality by enriching trading products, expanding trading entities, and strengthening market transaction supervision [2]. - Financial institutions that meet requirements will be allowed to participate in the national carbon market trading under lawful and risk-controlled conditions [2]. - A risk assessment and management system for compliance of key emission units will be established to prevent compliance risks [2]. Group 4: Capacity Building - The policy outlines the need to improve management systems and support frameworks, strengthen carbon emission accounting and reporting management, and ensure strict regulation of carbon emission verification [2]. - It includes the implementation of qualification management for verification institutions in the national carbon emission trading market [2]. Group 5: Implementation Assurance - The policy emphasizes increasing joint efforts to combat illegal activities in the carbon market and enhancing policy coordination with green electricity and green certificate markets [3].

Group 1 - The core viewpoint of the article emphasizes the importance of the carbon market as a policy tool for addressing climate change and promoting a green transition in the economy and society [1] - The main goals set forth in the recent opinion include achieving basic coverage of major industrial sectors in the national carbon emissions trading market by 2027 and establishing a comprehensive voluntary emissions reduction trading market by 2030 [1][2] - The expansion of the national carbon emissions trading market will include new sectors such as steel, cement, and electrolytic aluminum, which are significant contributors to emissions and are heavily influenced by international green trade [2][3] Group 2 - The opinion outlines the need to improve the carbon emissions quota management system, including establishing a transparent quota management framework and gradually shifting from intensity control to total control of emissions quotas [4] - The introduction of carbon finance is highlighted as a key strategy to enhance market vitality, allowing financial institutions to develop green financial products related to carbon emissions rights [5][6] - The article references the EU carbon market as a model for integrating financial attributes into carbon markets, which has led to a diverse range of trading products and active market participation [7]

稳妥推行免费和有偿相结合的碳排放配额分配方式 同时，统筹好全国碳排放权交易市场和有关地方试点开展的碳市场。鼓励碳排放权交易试点市场在扩大 覆盖范围、完善市场调节机制、创新监管手段、健康有序发展碳金融等方面先行先试，为全国碳排放权 交易市场建设探索经验。建立定期评估和退出机制，不再新建地方或区域碳排放权交易市场。 在积极发展全国温室气体自愿减排交易市场方面，包括加快自愿减排交易市场建设和积极推动核证自愿 减排量应用。 提升碳市场活力一直以来是关键环节，《意见》提出，着力提升碳市场活力，包括丰富交易产品、扩展 交易主体和加强市场交易监管。 全国碳市场建设正在进一步加快。 《中共中央办公厅 国务院办公厅关于推进绿色低碳转型加强全国碳市场建设的意见》（下称《意 见》）于8月25日正式对外公布。 《意见》提出，到2027年，全国碳排放权交易市场基本覆盖工业领域主要排放行业，全国温室气体自愿 减排交易市场实现重点领域全覆盖。到2030年，基本建成以配额总量控制为基础、免费和有偿分配相结 合的全国碳排放权交易市场，建成诚信透明、方法统一、参与广泛、与国际接轨的全国温室气体自愿减 排交易市场，形成减排效果明显、规则体系健全、 ...

新华社权威快报 中共中央办公厅 国务院办公厅 《关于推进绿色低碳转型 加强全国倾行场建设的意见》 8月25日对外公布 新华社国内部出品 8月25日，中共中央办公厅、国务院办公厅《关于推进绿色低碳转型加强全国碳市场建设的意见》 对外公布。 碳市场是利用市场机制积极应对气候变化、加快经济社会发展全面绿色转型的重要政策工具。目前，我 国已建立重点排放单位履行强制减排责任的全国碳排放权交易市场和激励社会自主减排的全国温室气体 自愿减排交易市场。为推动建设更加有效、更有活力、更具国际影响力的全国碳市场，经党中央、国务 院同意，现提出如下意见。 一、总体要求 这份意见明确，碳市场是利用市场机制积极应对气候变化、加快经济社会发展全面绿色转型的重要 政策工具。目前，我国已建立重点排放单位履行强制减排责任的全国碳排放权交易市场和激励社会自主 减排的全国温室气体自愿减排交易市场。 这份意见提出，到2027年，全国碳排放权交易市场基本覆盖工业领域主要排放行业，全国温室气体 自愿减排交易市场实现重点领域全覆盖。到2030年，基本建成以配额总量控制为基础、免费和有偿分配 相结合的全国碳排放权交易市场，建成诚信透明、方法统一、参与广泛、 ...

Core Viewpoint - The article discusses the release of a significant document by the Central Committee of the Communist Party of China and the State Council, titled "Opinions on Promoting Green and Low-Carbon Transition and Strengthening National Carbon Market Construction," which outlines the framework for China's carbon market development and its role in addressing climate change and promoting economic transformation [1][12]. Summary by Sections 1. Overall Requirements - The carbon market is identified as a crucial policy tool for addressing climate change and facilitating a comprehensive green transition in economic and social development. The main goals include achieving basic coverage of major industrial sectors by 2027 and establishing a robust carbon trading market by 2030 [15][12]. 2. Accelerating the Construction of the National Carbon Emission Trading Market - The coverage of the national carbon emission trading market will be expanded based on industry development, pollution reduction contributions, data quality, and carbon emission characteristics [16]. - A transparent carbon emission quota management system will be established, with a focus on balancing supply and demand in the market [17]. - Guidance and supervision will be strengthened for pilot carbon trading markets to ensure they contribute to regional green and low-carbon transitions [18]. 3. Actively Developing the National Voluntary Greenhouse Gas Reduction Trading Market - A comprehensive methodology system will be established to support voluntary reduction projects, ensuring effective management from project development to verification [18]. - Encouragement for various entities, including government and enterprises, to utilize certified voluntary reduction credits to offset emissions [18]. 4. Enhancing Market Vitality - Financial institutions will be supported in developing green financial products related to carbon emissions, including carbon pledges and repurchase policies [19]. - The introduction of new trading participants, including individuals, will be facilitated in the voluntary reduction trading market [19]. 5. Strengthening Carbon Market Capacity Building - A management system that aligns with the development stages of the national carbon market will be established, enhancing supervision and operational efficiency [21]. - The carbon emission accounting and reporting management will be improved, with a focus on accurate measurement and verification of emissions [21]. 6. Strengthening Organizational Implementation Support - Local governments are urged to enhance leadership and policy support for carbon market construction, ensuring effective management of emission quotas and data quality [23]. - Legal frameworks will be developed to support carbon market operations, including regulations for voluntary reduction trading [24].

Core Viewpoint - The document outlines the Chinese government's strategic plan to enhance the national carbon market, aiming for a more effective, vibrant, and internationally influential system to support green and low-carbon transformation by 2030 [1][2]. Group 1: Overall Requirements - The plan emphasizes the integration of economic development with green and low-carbon transformation, aiming for a unified national carbon market that optimizes resource allocation and maximizes efficiency [2]. - Key targets include achieving basic coverage of major industrial sectors in the carbon trading market by 2027 and establishing a comprehensive carbon pricing mechanism by 2030 [2]. Group 2: National Carbon Emission Trading Market - The coverage of the national carbon emission trading market will be expanded based on industry development, emission reduction contributions, and data quality [3]. - A transparent carbon emission quota management system will be established, transitioning from intensity control to total volume control by 2027 for stable emission sectors [3]. Group 3: Voluntary Greenhouse Gas Reduction Trading Market - The development of a voluntary reduction trading market will be accelerated, focusing on sustainable projects with significant social and ecological benefits [5]. - The government encourages the use of certified voluntary reduction credits in various sectors, including government and enterprises, to offset carbon emissions [6]. Group 4: Enhancing Market Vitality - Financial institutions will be encouraged to develop green financial products related to carbon emissions, enhancing support for greenhouse gas reduction [7]. - The introduction of new trading participants, including individuals and financial institutions, will be facilitated to broaden market engagement [7]. Group 5: Strengthening Market Capacity - A robust management system will be established to support the national carbon market, including digital and intelligent management systems [8]. - The document emphasizes the importance of accurate carbon emission accounting and reporting, with a focus on improving data quality and regulatory oversight [9]. Group 6: Organizational Implementation and Support - Local governments are tasked with implementing the carbon market strategy, ensuring effective supervision of emission units and quota management [11]. - Legal frameworks will be developed to support carbon market operations, including regulations for voluntary reduction trading [12]. Group 7: International Cooperation - The plan highlights the importance of participating in international climate agreements and promoting the recognition of China's carbon market practices globally [12].

Core Viewpoint - The article discusses the establishment and enhancement of China's national carbon market, emphasizing the importance of market mechanisms in addressing climate change and promoting green transformation in the economy [1][2]. Group 1: Overall Requirements - The initiative is guided by Xi Jinping's thoughts and aims to balance green transformation with economic development, focusing on creating a unified carbon market with a transparent environment [2]. - Key goals include achieving comprehensive coverage of major industrial sectors in the carbon trading market by 2027 and establishing a robust carbon pricing mechanism by 2030 [2]. Group 2: National Carbon Emission Trading Market - The plan includes expanding the coverage of the carbon trading market based on industry development, emission reduction contributions, and data quality [3]. - A transparent carbon emission quota management system will be established, transitioning from intensity control to total volume control by 2027 [3]. Group 3: Voluntary Emission Reduction Trading Market - The development of a voluntary emission reduction trading market will focus on creating a comprehensive methodology to support sustainable development and social expectations [5]. - There will be an emphasis on the integrity of project owners and verification agencies in managing voluntary reduction projects [5]. Group 4: Enhancing Market Vitality - Financial institutions will be encouraged to develop green financial products related to carbon emissions, enhancing support for greenhouse gas reduction [7]. - The introduction of new trading participants, including individuals and financial institutions, will be facilitated to broaden market participation [7]. Group 5: Capacity Building for Carbon Market - A management system will be established to support the development of the carbon market, including digital and intelligent management systems [8]. - The article emphasizes the need for strict verification and quality control of carbon emission data to ensure accuracy and reliability [9]. Group 6: Organizational Implementation and Support - Local governments are urged to strengthen leadership and policy support for carbon market operations, ensuring effective management of emission quotas and data quality [11]. - Legal frameworks will be developed to support carbon market construction and to combat illegal activities within the market [11]. Group 7: International Cooperation - The initiative aims to engage in international dialogue and cooperation on carbon market mechanisms, promoting mutual recognition of standards and data [12].

Core Viewpoint - The joint issuance of the "Opinions" by the Guangdong Provincial High People's Court, the Guangdong Provincial Department of Ecology and Environment, and the People's Bank of China Guangdong Branch aims to provide systematic judicial guarantees for carbon emission quota pledge financing, marking a significant step in the development of green finance in China [3][5]. Group 1: Legal Framework and Innovations - The "Opinions" clarify that carbon emission quotas are legitimate pledge assets, establishing a stable legal expectation for market participants [5]. - A dual registration model is introduced to address ownership disputes and prevent repeated pledges, enhancing the security of carbon asset transactions [5]. - The "Opinions" emphasize the importance of judicial services in maintaining the validity of carbon quota pledge contracts and provide a mechanism for dispute resolution [5]. Group 2: Financial Mechanisms and Market Impact - The document encourages financial institutions to innovate financing products, including future carbon credit pledges and carbon asset securitization, to meet diverse financing needs of enterprises [6]. - A mechanism linking carbon quota pledges to emission reduction outcomes is established, promoting a virtuous cycle of reduction and financing [6]. - The collaboration among courts, environmental departments, and central bank branches is expected to transform carbon quotas into liquid financial assets, enhancing the carbon trading market [6][8]. Group 3: Market Activity and Challenges - Despite Guangdong's active carbon trading market, with over 230.85 million tons traded and a total transaction value of 6.701 billion yuan, the actual pledge financing cases remain limited due to legal ambiguities [4]. - The "Opinions" aim to resolve the long-standing issues of unclear legal status and lack of effective default handling mechanisms that have hindered the development of carbon finance [4][5]. Group 4: Expert Insights - Experts believe that the "Opinions" will effectively activate the carbon finance market in Guangdong and provide a replicable model for carbon finance development across China [7].