National carbon market optimizes performance schedule

Sinochem News At the August regular press conference held by the Ministry of Ecology and Environment on August 30, Pei Xiaofei, spokesperson of the Ministry of Ecology and Environment, said that the "National Carbon Emissions Trading Power Generation Industry Quota Total and Allocation in 2023 and 2024"(referred to as the "Plan") optimizes the performance schedule from one performance in two years to one performance in one year, and also proposes quota carry-over measures to better balance market supply and demand.

According to reports, at present, the Ministry of Ecology and Environment is taking the lead in carrying out work related to the third performance cycle. In accordance with the overall requirements of "seeking progress while maintaining stability, serving the overall situation, and encouraging advancement", the "Plan" has been prepared and optimized in various aspects. Adjustment.

The first is to optimize the performance schedule. This "Plan" sets the performance deadlines for 2023 and 2024 at the end of 2024 and the end of 2025 respectively, achieving one performance every year.

The second is to adjust the caliber of statistical accounting. In order to prevent data quality risks from the source and improve the scientificity and rationality of the quota allocation method, the "Plan" has made improvements in several aspects such as adjusting the basic parameters of quota calculation, optimizing the scope of control, and simplifying and optimizing various correction coefficients.

Third, the carbon emission benchmark value under comparable standards has been slightly tightened. Taking into account factors such as the progress of completing the national carbon emission intensity target during the "14th Five-Year Plan", the benchmark carbon emission values in 2023 and 2024 will drop by about 1%.

Pei Xiaofei said that on this basis, the Ministry of Ecology and Environment has proposed quota carry-over measures in order to effectively solve the problems of reluctance to sell enterprises with quota surplus, inactive market transactions, and high pressure on enterprises with quota gaps to perform.

According to reports, only enterprises with surplus quotas need to carry forward quotas. It is estimated that under the current carry-over measures, enterprises with surplus quotas will be encouraged to gradually release quotas to the market that are roughly equivalent to their performance needs, so as to better balance market supply and demand.

The carry-over deadline is set at December 31, 2025, allowing companies enough time to formulate trading plans to avoid clusters of transactions in the short term, which will cause abnormal fluctuations in carbon prices.