On October 8, 2024, the National Development and Reform Commission (NDRC), the Ministry of Ecology and Environment (MEE), jointly with 6 other national ministries, issued the Work Plan for Improving the Statistical Accounting System for Carbon Emissions (hereinafter referred to as “the Working Plan”).

Since raising the specific timeline for achieving carbon peaking and carbon neutrality goals (usually mentioned in China as “dual-carbon goals”) in 2021, China has been issuing more top-level plannings and policy documents for accelerating green transition and carbon reduction. Optimizing statistical accounting system for carbon emission is considered one of the fundamental works for achieving the country’s dual carbon goals, and has been emphasized in several national policies, such as Implementation Plan for Accelerating the Establishment of a Unified and Standardized Statistical Accounting System for Carbon Emission and Working Plan on Accelerating the Construction of a Dual Control System for Carbon Emissions etc. The Working Plan is a more specific policy document that allocates the goals in the Implementation Plan for Accelerating the Establishment of a Unified and Standardized Statistical Accounting System for Carbon Emissions to finally achieve them.

Key takeaways of the Working Plan are summarized as below:

Goals: the overall goals include focusing on cracking the key short board constraints, further refining tasks, consolidating responsibilities, and strengthening implementation that can effectively promote all levels, all fields, and all industries to improve the level of carbon emissions statistical accounting capabilities, improve the quality and timeliness of carbon emissions data, and support the "15th Five-Year Plan" to carry out carbon emission dual control and accelerate the green transformation of development methods. It has also set main objectives in two periods:

·         By 2025, focusing on consolidating the carbon emission data base, comprehensively establishing the carbon emission annual report and express system, focusing on improving the carbon emission accounting system and method of regions, sectors, enterprises and products, and building a national greenhouse gas emission factor database to provide data support for the implementation of carbon emission dual control nationwide during the 15th Five-Year Plan period.

·         From 2026 to 2030, focuses on comprehensively improving the level of carbon emission accounting capacity, constructing and completing a systematic carbon emission statistical accounting system, promoting the improvement of relevant carbon emission statistical accounting systems, standard rules, management mechanisms and methods, etc., to ensure that carbon emission data can effectively meet the requirements of carbon emission control at all levels, fields and sectors.

Missions: the overall missions of the Working Plan mainly include focusing on local carbon assessment, industrial carbon management, enterprise carbon management, project carbon evaluation, product carbon footprint and other work, focusing on promoting the improvement of regional, industrial, enterprise, project, product and other levels of carbon emission accounting systems and standards. To be specific, the document assigns 23 detailed missions in the following 8 perspectives:

·         Improve the statistical and accounting system for regional carbon emissions

·         Improve carbon emission accounting mechanisms in key industries and sectors

·         Improve the accounting methods for enterprise carbon emissions

·         Establish the project carbon emission and carbon reduction accounting system

·         Establish a sound carbon footprint management system

·         Establish a national database of greenhouse gas emission factors

·         Promote the application of advanced technologies and research on new methodologies

·         Strengthen international communication and convergence on carbon emission accounting rules, and carry out international cooperation on basic capacity building

Next Steps:  NDRC will act as the main coordinator for the implementation, establishing a cooperation mechanism between relevant stakeholders, guiding the implementing plan drafting on regional level, as well as pushing relevant departments to effectively work on corresponding mission.

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