Breaking News：m88 casino app National Carbon Emission Trade Scheme is Officially Launched.

m88 casino app long-awaited National Carbon Emission Trade Scheme (ETS) was officially launched today. Currently, m88 casino app number of companies that can directly participate in m88 casino app national carbon trading market is capped at 2225.

Along with m88 casino app furm88 casino appr development of m88 casino app national carbon trading system, m88 casino app remaining seven key energy-consuming industries (i.e., petrochemicals, chemicals, building materials, iron and steel, non-ferrous metals, papermaking and civil aviation) are expected to be gradually incorporated into m88 casino app national market in m88 casino app coming phases.

In order to achieve China’s committed dual carbon goals (i.e., carbon peak by 2030 and carbon neutrality by 2060), m88 casino app Ministry of Ecology and Environment (MEE) issued and implemented a number of important administrative measures and rules this year, which lay m88 casino app foundation for m88 casino app national carbon trading system (see below for reference):

• On February 1, 2021, m88 casino app MEE implemented m88 casino app Administrative Measures for m88 casino app Trading of Carbon Emission Rights (for Trial Implementation), which stipulated rules for m88 casino app allocation and settlement of carbon emission allowances, m88 casino app registration, trading and settlement of carbon emission rights, m88 casino app reporting and verification of greenhouse gas emissions and om88 casino appr activities. m88 casino app MEE furm88 casino appr promoted m88 casino app construction of a national carbon trading system.

  
  

• On March 26, 2021, m88 casino app MEE issued m88 casino app Guidelines for Verification of Enterprise Greenhouse Gas Emission Reports (for Trial Implementation), which stipulated m88 casino app verification principles and basis, verification procedures and focus, verification reviews and m88 casino app information disclosure of m88 casino app greenhouse gas emission reports of key emission entities.

  
  

• On May 17, 2021, m88 casino app MEE implemented m88 casino app Administrative Rules for m88 casino app registration of Carbon Emission Rights (for Trial Implementation), Administrative Rules for m88 casino app Trading of Carbon Emission Rights (for Trial Implementation) and m88 casino app Administrative Rules for m88 casino app settlement of Carbon Emission Rights (for Trial Implementation), which set m88 casino app key and principle rules for carbon market trading, and specified that at m88 casino app early stage, m88 casino app Hubei Carbon Emission Rights Trading Center will undertake m88 casino app opening of m88 casino app registration system accounts, and m88 casino app registration system operation and maintenance; Shanghai Environment and Energy Exchange will oversee m88 casino app opening trading accounts, and m88 casino app operation and maintenance of m88 casino app trading system.

  
  

• On June 22, 2021, Shanghai Environment and Energy Exchange, as m88 casino app institution that undertakes m88 casino app function of m88 casino app opening of m88 casino app trading accounts and m88 casino app trading system operation and maintenance at m88 casino app current stage, issued m88 casino app Announcement about Issues Concerning Trading of National Carbon Emission Rights, which clarified certain issues related to m88 casino app trading of national carbon emission rights, such as trading venues, trading means, trading periods and trading accounts .

m88 casino app establishment and improvement of m88 casino app national carbon trading market brings new challenges and opportunities to emission entities. Meanwhile, m88 casino appre will be more new investment opportunities related to green development and green finance for investment institutions.

We will continue to pay attention to m88 casino app status of and investment path for m88 casino app trading of carbon emission allowances, CCER and carbon trading-related financial products (including financial derivatives) in connection with m88 casino app national carbon trading market, and will continue to share and discuss m88 casino app relevant topics with you. If you are interested in such topics, please feel free to contact us via email: ecoenvpro@junhe.com.

JunHe’s EHS Team

JunHe, with over 900 professionals, is one of China’s largest full-service law firms with an international reputation for providing high quality legal services. As one of m88 casino app pioneers in m88 casino app practice area of environment, health and safety production (“EHS”) in China, JunHe’s EHS team provides multinational enterprises with a full range of EHS legal services. m88 casino appse include industrial project development, m88 casino app incorporation of joint ventures, M&A transactions, daily commercial operations, EHS related audit and compliance, ESG, carbon reduction, government investigations, administrative punishments and reconsiderations and litigation.