China Carbon Credit Platform

Jilin launches provincial-level risk prevention and control system for carbon market

SourceCenewsComCn
Release Time2 months ago

The Jilin Province Department of Ecology and Environment recently issued the "Jilin Province Carbon Market Performance Risk Prevention and Control Work Plan"(hereinafter referred to as the "Plan"), which is the first provincial-level national carbon market performance risk prevention and control system in China.

"We hope that through the" Plan ", we will promote the development of prevention and control measures such as information sharing, tracking and dispatching, early warning and notification, interview and supervision, compulsory performance, and assist in performance, and build a work pattern for joint prevention and control of carbon market performance risks at the national, provincial and municipal levels." Zhang Qibin, director of the Climate Change Response Division of the Department of Ecology and Environment of Jilin Province, told reporters.

Since the launch of the national carbon market, the overall operation of Jilin Province has been stable. In the second performance cycle, the province's performance rate has reached 100%. However, due to reasons such as the industry market cycle, corporate operation and management, and carbon emission management levels, there are still certain risks and hidden risks in carbon market performance. In order to effectively prevent and resolve hidden dangers of carbon market performance risks, the Jilin Province Department of Ecology and Environment prepared a "Plan" to establish and improve the working mechanism for the prevention and control of carbon market performance risks in Jilin Province, standardize the payment of carbon emission rights quotas for key emission units, and promote the stable and healthy development of the carbon market.

The "Plan" points out that from the date of issuance of carbon emission rights quotas each year to the performance and payment deadline stipulated by the Ministry of Ecology and Environment, it is the period for prevention and control of performance risks in the national carbon market. Key emission units in Jilin Province participating in national carbon market transactions are included in the scope of risk prevention and control.

The "Plan" requires that during the risk prevention and control period, the Provincial Department of Ecology and Environment comprehensively analyze and judge the performance situation of each key emission unit, and implement hierarchical prevention and control according to different risk levels. Before issuing quotas, the Provincial Department of Ecology and Environment comprehensively considers the enterprise's production and operation, quota profits and losses, adjustments, balances, etc., and conducts a comprehensive assessment of performance risks of key emission units included in the scope of risk prevention and control, based on three risk levels: high, medium and low. Establish a risk prevention and control list and release it to all regions in a timely manner. The list is dynamically managed and adjusted in a timely manner based on the performance and payment of key emission units.

The "Plan" clarifies that after the completion of the performance and payment period, for key emission units that fail to perform in full and on time, in accordance with the "Interim Regulations on the Administration of Carbon Emissions Trading" and other relevant provisions, while ordering relevant key emission units to make corrections, the outstanding payment will be fined a fine of 5 times but not more than 10 times the average market transaction price one month before the quota payment time limit, and the performance and payment status and administrative penalty information will be announced to the public. For those who refuse to make corrections, the Provincial Department of Ecology and Environment will reduce their quotas for the next performance cycle by an equal amount. If the situation is particularly serious, they will be ordered to suspend production for rectification.

RegionJilin
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