by Mathew Carr
Oct. 20, 2023 — Some Selected Highlights From Translated Source Doc Published Below:
Emission reductions need to have happened after Sept. 22, 2020.
Having said that, Article 49 says older projects can be re registered: “Article 49 Greenhouse gas voluntary emission reduction projects that have been registered by the national climate change authority before March 14, 2017 shall re-apply for project registration in accordance with the provisions of these Measures; emission reductions that have been registered can be continued in accordance with relevant national regulations. use.” [sic]
Conservatism
Estimates for emission reduction credits to be generated should be conservative: Defined as: “Conservatism refers to when there is a lack of effective technical means or technical specification requirements during the accounting or verification process of emission reductions in voluntary greenhouse gas emission reduction projects, and there is a certain degree of uncertainty, making it difficult to accurately judge relevant parameters and technical paths. , conservative methods should be used for estimation and values to ensure that project emission reductions are not overcalculated.”
[This definition seems a little problematic because it seems to imply some methodologies generating credits might be loosely governed — see bolded text immediately above: CarrZee]
Trading Entity Fines
Fines to range from the equivalent of about $1,400 to $14,000 [Which seems too low because manipulating a market can generate trading profits of $14,000 very quickly — even within a few minutes: CarrZee]
“Article 45 If a trading entity violates the provisions of these Measures and manipulates or disrupts the national voluntary greenhouse gas emission reduction trading market, the Ministry of Ecology and Environment will issue a notice of criticism and impose a fine of not less than 10,000 yuan but not more than 100,000 yuan.”
Corporate offsetting is allowed
”Article 28 The certified voluntary emission reductions shall be used in accordance with relevant national regulations to offset the settlement of carbon emission quotas in the national carbon emissions trading market and local carbon emissions trading markets, to offset the carbon neutrality of large-scale events, and to offset corporate greenhouse gas emissions. If it is used for other purposes, it shall be canceled in the registration system.
Participating entities are encouraged to voluntarily cancel their certified voluntary emission reductions for public welfare purposes.”
International realm still to come
”Article 29 Specific regulations on cross-border trading and use of certified voluntary emission reductions shall be formulated separately by the Ministry of Ecology and Environment in conjunction with relevant departments.”
[CarrZee: I can’t immediately see how this voluntary market will fit with article 6 of the Paris climate deal.]
Background
(See doc at bottom, too)
Source doc (translated):
- nameMeasures for the Administration of Voluntary Greenhouse Gas Emission Reduction Trading (Trial)
- The index number000014672/2023-00340ClassificationTackling climate change
- Issuing authorityMinistry of Ecology and Environment,
State Administration for Market RegulationGeneration date2023-10-19 - Document numberMinistry Order No. 31Subject words
Measures for the Administration of Voluntary Greenhouse Gas Emission Reduction Trading (Trial)
The “Greenhouse Gas Voluntary Emission Reduction Trading Management Measures (Trial)” was reviewed and adopted by the Ministry of Ecology and Environment at the 2023 third ministerial meeting on September 15, 2023, and approved by the State Administration for Market Regulation. It is hereby announced and will be effective from now on. It shall come into effect on the date of promulgation.
Huang Runqiu, Minister of Ecology and Environment
Luo Wen, Director of the State Administration for Market Regulation
October 19, 2023
Measures for the Administration of Voluntary Greenhouse Gas Emission Reduction Trading (Trial)
Chapter 1 General Provisions
Article 1 In order to promote the realization of China’s carbon peak and carbon neutrality goals, control and reduce greenhouse gas emissions generated by man-made activities, encourage voluntary greenhouse gas emission reduction behaviors, and regulate national voluntary greenhouse gas emission reduction transactions and related activities, according to the Party Central Committee, These Measures are formulated in accordance with the State Council’s decision-making and arrangements for the establishment of a national voluntary greenhouse gas emission reduction trading market and relevant laws and regulations.
Article 2 These Measures shall apply to the supervision and management of national voluntary greenhouse gas emission reduction transactions and related activities.
Article 3 National voluntary greenhouse gas emission reduction transactions and related activities should adhere to the market orientation and follow the principles of fairness, justice, openness, integrity and voluntariness.
Article 4 Legal entities and other organizations established in accordance with the law within the territory of the People’s Republic of China may carry out voluntary greenhouse gas emission reduction activities in accordance with these Measures and apply for registration of voluntary greenhouse gas emission reduction projects and emission reduction amounts.
Legal persons, other organizations and natural persons that comply with relevant national regulations may participate in voluntary greenhouse gas emission reduction transactions in accordance with these Measures.
Article 5 The Ministry of Ecology and Environment shall build the national voluntary greenhouse gas emission reduction trading market in accordance with relevant national regulations, be responsible for formulating the management requirements and technical specifications for the national voluntary greenhouse gas emission reduction trading and related activities, and regulate the national voluntary greenhouse gas emission reduction trading and related activities. Supervise, manage and direct activities.
Provincial ecological and environmental authorities are responsible for the supervision and management of voluntary greenhouse gas emission reduction transactions and related activities within their respective administrative regions.
District-level municipal ecological environment authorities shall cooperate with provincial ecological environment authorities to supervise and manage greenhouse gas voluntary emission reduction transactions and related activities within their respective administrative regions.
The market supervision department and the ecological environment department shall, according to the division of responsibilities, supervise and manage the institutions engaged in the approval and emission reduction verification of voluntary greenhouse gas emission reduction projects (hereinafter referred to as the approval and verification agencies) and their approval and verification activities.
Article 6 The Ministry of Ecology and Environment shall, in accordance with relevant national regulations, organize the establishment of a unified national registration agency for voluntary greenhouse gas emission reductions (hereinafter referred to as the registration agency), and organize the construction of a national registration system for voluntary greenhouse gas emission reductions (hereinafter referred to as the registration system) .
The registration agency is responsible for the operation and management of the registration system. Through this system, it accepts registration and cancellation applications for voluntary greenhouse gas emission reduction projects and emission reductions, records relevant information on voluntary greenhouse gas emission reduction projects and verifies the registration of voluntary emission reductions. , holding, change, cancellation and other information. The information recorded in the registration system is the ultimate basis for judging the ownership and status of certified voluntary emission reductions.
The registration agency may formulate specific business rules for greenhouse gas voluntary emission reduction projects and emission reduction registration in accordance with relevant national regulations, and report them to the Ministry of Ecology and Environment for filing.
Article 7 The Ministry of Ecology and Environment shall, in accordance with relevant national regulations, organize the establishment of a unified national voluntary greenhouse gas emission reduction trading institution (hereinafter referred to as the trading institution), and organize the construction of a national voluntary greenhouse gas emission reduction trading system (hereinafter referred to as the trading system).
The trading institution is responsible for the operation and management of the trading system, and provides centralized and unified trading and settlement services for certified voluntary emission reductions.
Trading institutions should take effective measures in accordance with relevant national regulations to maintain the healthy development of the market, prevent excessive speculation, and guard against financial and other risks.
Trading institutions may formulate specific business rules for certified voluntary emission reduction transactions in accordance with relevant national regulations and report them to the Ministry of Ecology and Environment for filing.
Article 8 The Ministry of Ecology and Environment is responsible for organizing the formulation and promulgation of technical specifications such as the Greenhouse Gas Voluntary Emission Reduction Project Methodology (hereinafter referred to as the Project Methodology), as the basis for the approval, implementation, emission reduction accounting and verification of voluntary emission reduction projects in relevant fields.
The project methodology should stipulate applicable conditions, emission reduction accounting methods, monitoring methods, project approval and emission reduction verification requirements, etc., and clarify the time period within which project emission reduction registration can be applied for.
The project methodology should be revised in a timely manner based on factors such as economic and social development, industrial structure adjustment, industry development stage, and climate change policies, and be incorporated into the national standard system when conditions are mature.
Chapter 2 Project Approval and Registration
Article 9 The voluntary greenhouse gas emission reduction projects applied for registration should be conducive to reducing carbon emissions and increasing sinks, and can avoid or reduce greenhouse gas emissions, or achieve the removal of greenhouse gases.
Article 10 Greenhouse gas voluntary emission reduction projects applying for registration shall meet the following conditions:
(1) Be authentic, unique and additional;
(2) Belongs to the project methodology support field issued by the Ministry of Ecology and Environment;
(3) Construction started after November 8, 2012;
(4) Meet other conditions stipulated by the Ministry of Ecology and Environment.
Projects that have greenhouse gas emission reduction obligations stipulated in laws, regulations, and national policies, or projects that are included in the quota management of national and local carbon emissions trading markets, are not allowed to apply for registration of voluntary greenhouse gas emission reduction projects.
Article 11 A legal person or other organization that applies for registration of a greenhouse gas voluntary emission reduction project (hereinafter referred to as the project owner) shall prepare project design documents in accordance with the requirements of project methodology and other relevant technical specifications, and entrust an approval and verification agency to approve the project.
The original records and management ledgers of the data and information involved in the project design documents shall be kept for at least ten years after the last phase of emission reduction registration of the project.
Article 12 Before applying for registration of a voluntary greenhouse gas emission reduction project, the project owner shall publicize the project design documents through the registration system and be responsible for the authenticity, completeness and validity of the publicity materials.
When the project owner discloses the project design documents, it shall simultaneously disclose the name of the approval and verification agency entrusted by it.
The project design document publicity period is twenty working days. During the publicity period, the public can submit opinions through the registration system.
Article 13 The review and verification agency shall review the following matters of the voluntary greenhouse gas emission reduction project applying for registration in accordance with relevant national regulations, issue a project review report, upload it to the registration system, and disclose it to the public at the same time:
(1) Whether it complies with relevant laws, regulations and national policies;
(2) Whether it belongs to the project methodology support field issued by the Ministry of Ecology and Environment;
(3) Whether the selection and use of project methodology is appropriate;
(4) Whether it has authenticity, uniqueness and additionality;
(5) Whether it meets the requirements of sustainable development and whether it has any adverse impact on all aspects of sustainable development.
The project review report shall include a positive or negative project review conclusion, as well as the project owner’s explanation of the handling of public opinions received during the publicity period.
The approval and verification agency shall be responsible for the compliance, authenticity, and accuracy of the project approval report, and make commitments in the project approval report.
Article 14 After the approval and verification agency issues the project approval report, the project owner may apply to the registration agency for registration of a greenhouse gas voluntary emission reduction project.
When a project owner applies for registration of a voluntary greenhouse gas emission reduction project, he or she shall submit the project application form, project design documents uploaded by the approval and verification agency, and project approval report through the registration system, and shall attach a document verifying the uniqueness of the project and the authenticity and authenticity of the materials provided. Commitment to be responsible for completeness and effectiveness.
Article 15 The registration agency shall review the completeness and standardization of the materials submitted by the project owner, register the approved greenhouse gas voluntary emission reduction projects within fifteen working days from the date of receipt of the application materials, and report them to The public will disclose the project registration status and all materials submitted by the project owners; if the application materials are incomplete or irregular, they will not be registered and the project owners will be notified.
Article 16 If a registered greenhouse gas voluntary emission reduction project encounters circumstances such as the loss of the project owner or the project no longer existing, the registration agency shall cancel the registered project after investigation and verification.
Project owners can voluntarily apply to the registration agency to cancel registered greenhouse gas voluntary emission reduction projects.
The cancellation status of voluntary greenhouse gas emission reduction projects shall be disclosed to the public through the registration system; projects after cancellation shall not apply for registration again.
Chapter 3 Verification and Registration of Emission Reductions
Article 17 Greenhouse gas voluntary emission reduction projects registered by the registration agency may apply for project emission reduction registration. The emission reductions of the projects applying for registration should be measurable, traceable, and verifiable, and meet the following conditions:
(1) Comply with the principle of conservatism;
(2) Comply with the project methodology issued by the Ministry of Ecology and Environment;
(3) Produced after September 22, 2020;
(4) Within the time limit for applying for project emission reduction registration;
(5) Meet other conditions stipulated by the Ministry of Ecology and Environment.
Project owners can apply for project emission reduction registration in phases. The emission reductions of the projects applying for registration in each period should be within five years before the date of application for registration.
Article 18 When project owners apply for project emission reduction registration, they shall prepare an emission reduction accounting report in accordance with the requirements of project methodology and other relevant technical specifications, and entrust an approval and verification agency to verify the emission reductions. The project owner shall not entrust the approval and verification agency responsible for project approval to conduct emission reduction verification of the project.
The original records and management ledgers of the data and information involved in the emission reduction accounting report shall be kept for at least ten years after the last emission reduction registration of the greenhouse gas voluntary emission reduction project.
Project owners should strengthen daily monitoring of the implementation of voluntary greenhouse gas emission reduction projects. Project owners are encouraged to adopt informatization and intelligent measures to strengthen data management.
Article 19 Before applying for project emission reduction registration, the project owner shall publish the emission reduction accounting report through the registration system and be responsible for the authenticity, completeness and validity of the disclosure materials.
When the project owner publicizes the emission reduction accounting report, it shall simultaneously publicize the name of the approval and verification agency entrusted by it.
The emission reduction accounting report disclosure period is twenty working days. During the publicity period, the public can submit opinions through the registration system.
Article 20 The approval and verification agency shall verify the following matters of the emission reduction accounting report in accordance with relevant national regulations, issue an emission reduction verification report, upload it to the registration system, and disclose it to the public at the same time:
(1) Whether it meets the requirements of project methodology and other relevant technical specifications;
(2) Whether the project is implemented in accordance with the project design documents;
(3) Whether the emission reduction accounting complies with the principle of conservatism.
The emission reduction verification report should determine the verified emission reductions and explain how the project owner handled the public opinions received during the publicity period.
The approval and verification agency shall be responsible for the compliance, authenticity, and accuracy of the emission reduction verification report, and make commitments in the emission reduction verification report.
Article 21 After the approval and verification agency issues an emission reduction verification report, the project owner may apply to the registration agency for project emission reduction registration; the emission reduction amount of the project applied for registration shall be consistent with the emission reduction amount determined in the emission reduction verification report. consistent.
When project owners apply for project emission reduction registration, they should submit the project emission reduction application form and the emission reduction accounting report and emission reduction verification report uploaded by the approval and verification agency through the registration system, and attach the emission reduction accounting report Commitment to be responsible for authenticity, completeness and validity.
Article 22 The registration agency shall review the completeness and standardization of the materials submitted by the project owners, register the emission reductions of the approved projects within fifteen working days from the date of receipt of the application materials, and report them to the public. Disclose the registration status of emission reductions and all materials submitted by project owners; if the application materials are incomplete or non-standard, they will not be registered and the project owners will be notified.
The registered project emission reductions are called “certified voluntary emission reductions”, and the unit is measured in “tons of carbon dioxide equivalent (tCO 2 e)”.
Chapter 4 Emission Reduction Trading
Article 23 The trading products of the National Greenhouse Gas Voluntary Emission Reduction Trading Market are certified voluntary emission reductions. The Ministry of Ecology and Environment may add other trading products in a timely manner in accordance with relevant national regulations.
Article 24 Trading entities engaged in certified voluntary emission reduction transactions shall open accounts in the registration system and trading system.
Article 25 The transaction of certified voluntary emission reductions shall be conducted through the trading system.
Certified voluntary emission reduction transactions can take the form of listing agreements, bulk agreements, one-way bidding and other transaction methods that comply with regulations.
Article 26 The registration agency shall promptly change the holding quantity and holding status of certified voluntary emission reductions and other relevant information for trading entities through the registration system based on the transaction results provided by the trading agency.
Registration institutions and trading institutions shall implement timely, accurate and secure exchange of data between systems in accordance with relevant national regulations.
Article 27 If a trading entity violates the relevant provisions on the registration, settlement or trading of certified voluntary emission reductions, the registration agency and trading agency may take transaction restriction measures against it in accordance with relevant national regulations.
Article 28 The certified voluntary emission reductions shall be used in accordance with relevant national regulations to offset the settlement of carbon emission quotas in the national carbon emissions trading market and local carbon emissions trading markets, to offset the carbon neutrality of large-scale events, and to offset corporate greenhouse gas emissions. If it is used for other purposes, it shall be canceled in the registration system.
Participating entities are encouraged to voluntarily cancel their certified voluntary emission reductions for public welfare purposes.
Article 29 Specific regulations on cross-border trading and use of certified voluntary emission reductions shall be formulated separately by the Ministry of Ecology and Environment in conjunction with relevant departments.
Chapter 5 Management of Approval and Verification Institutions
Article 30 Validation and verification agencies are included in the management of certification agencies and shall engage in validation and verification activities fairly, independently and effectively in accordance with the “Regulations of the People’s Republic of China on Certification and Accreditation”, “Measures for the Management of Certification Agencies” and other regulations on certification agencies.
Validation and verification institutions shall have technical and management capabilities suitable for engaging in validation and verification activities, and meet the following conditions:
(1) Have fixed office space and necessary facilities to carry out approval and verification activities;
(2) Have more than ten full-time personnel with verification and verification capabilities in the corresponding fields, at least five of whom have two or more years of experience in greenhouse gas emission verification and verification;
(3) Establish a sound management system for approval and verification activities;
(4) Have the stable financial support required to carry out review and verification activities, establish risk funds or insurance that are compatible with business risks, and have the ability to respond to risks;
(5) Comply with the relevant standards and requirements of the approval and verification agency;
(6) There is no record of serious breach of trust in the past five years.
When conducting the review and approval of review and verification agencies, the State Administration for Market Regulation, together with the Ministry of Ecology and Environment, will formulate and publish the requirements for review and verification agencies based on work needs, and organize experts in relevant fields to form an expert review committee to review the approval application. After review, the Ministry of Ecology and Environment will be consulted. After consent, a decision will be made on whether to approve or not in accordance with the principles of rational utilization of resources, fair competition, convenience and effectiveness.
The validation and verification agency can only carry out relevant validation and verification activities after obtaining approval.
Article 31 Approval and verification agencies shall abide by laws, regulations and relevant regulations issued by the State Administration for Market Regulation and the Ministry of Ecology and Environment, carry out relevant activities within the approved business scope, ensure the integrity, objectivity and authenticity of the approval and verification activity process, and Make complete records and archive them to ensure traceability of the approval and verification process and results. Validation and verification bodies are encouraged to obtain accreditation.
Approval and verification agencies should strengthen industry self-discipline. The approval and verification agency and its staff shall be responsible for the compliance, authenticity and accuracy of the approval and verification reports issued by them, and shall not engage in fraud or disclose the business secrets of the project owner.
Article 32 The approval and verification agency shall submit work reports to the State Administration for Market Regulation and the Ministry of Ecology and Environment every year, and shall be responsible for the authenticity of the report contents.
The work report submitted by the validation and verification agency shall explain the compliance of the validation and verification agency with laws, regulations and technical specifications on project validation and emission reduction verification, the status of validation and verification activities, and the work status of the employees.
Article 33 The State Administration for Market Regulation and the Ministry of Ecology and Environment jointly establish a technical committee for validation and verification to coordinate and resolve technical issues related to validation and verification, study and propose relevant work suggestions, and improve the consistency, scientificity and rationality of validation and verification activities. Provide technical support for the supervision and management of approval and verification activities.
Chapter 6 Supervision and Management
Article 34 The Ministry of Ecology and Environment is responsible for guiding and urging local governments to supervise and inspect greenhouse gas voluntary emission reduction transactions and related activities, and investigate and deal with illegal activities that have typical significance and major social impact.
Provincial-level ecological environment authorities may, in conjunction with relevant departments, conduct supervision and inspection of registered voluntary greenhouse gas emission reduction projects and organizations that certify the authenticity and compliance of voluntary emission reductions, and accept applications for voluntary greenhouse gas emission reductions within their respective administrative regions. Public reports raised by the project will be investigated and punished for illegal activities.
District-level municipal ecological environment authorities shall cooperate with the unified deployment of provincial ecological environment authorities to carry out on-site inspections.
Ecological and environmental authorities at or above the provincial level can entrust legally established technical service agencies to provide technical support in supervision and inspection through government purchase of services.
Article 35 The market supervision department shall, in accordance with laws, regulations and relevant provisions, conduct daily supervision and inspection of approval and verification activities, and investigate and punish illegal activities. Combined with information such as random inspections, administrative penalties, complaints and reports, serious dishonesty lists, and big data analysis, classified supervision of approval and verification agencies will be implemented.
The ecological environment authorities and market regulatory authorities shall establish an information sharing and coordination working mechanism. For clues to problems found in the approval and verification activities during the supervision and inspection process, the ecological environment department shall promptly transfer them to the market supervision department.
Article 36 When the ecological environment department supervises and inspects project owners, it may take the following measures:
(1) Require the inspected unit to provide relevant materials, review and copy relevant information;
(2) Entering the production, operation, storage and other places of the inspected unit to conduct investigations;
(3) Question the person in charge of the unit being inspected or other relevant personnel;
(4) Require the inspected unit to provide explanations on the implementation of the provisions of these Measures.
The unit being inspected shall cooperate, truthfully report the situation, provide necessary information, and shall not refuse or obstruct.
Article 37 Ecological and environmental authorities, market regulatory authorities, registration agencies, trading agencies, approval and verification agencies and their relevant staff shall be loyal to their duties, act in accordance with the law, be impartial and honest, and shall not take advantage of their positions to seek improper benefits, and shall not Participate in the certification of voluntary emission reduction transactions and other activities that may affect the impartiality of validation and verification.
Validation and verification agencies shall not accept any funding that may affect the objectivity and fairness of validation and verification activities, shall not engage in development, marketing, consulting and other activities that may affect the objectivity and fairness of validation and verification activities, and shall not have any relationship with the entrusted project owners Interested parties in assets and management shall not prepare project design documents and emission reduction accounting reports for project owners.
Trading entities shall not manipulate or disrupt the national greenhouse gas voluntary emission reduction trading market through fraud, collusion, spreading false information, etc.
Article 38 Registration agencies and trading agencies shall ensure the safe, stable and reliable operation of the registration system and trading system, and regularly report to the Ministry of Ecology and Environment the status of national voluntary greenhouse gas emission reduction registration, trading-related activities and institutional operations, and promptly report to the Ministry of Ecology and Environment Related matters that have a significant impact on the greenhouse gas voluntary emission reduction trading market. Relevant content can be copied to the provincial ecological environment authorities.
Article 39 Registration agencies and trading agencies shall establish project files for registered voluntary greenhouse gas emission reduction projects and record and retain relevant information.
Article 40 Market supervision departments and ecological environment authorities shall strengthen credit supervision and management in accordance with the law and incorporate relevant administrative penalty information into the national enterprise credit information disclosure system.
Article 41 encourages the public, news media, etc. to supervise greenhouse gas voluntary emission reduction transactions and related activities. Any unit or individual has the right to report fraud and other illegal activities in voluntary greenhouse gas emission reduction transactions and related activities.
Chapter 7 Penalties
Article 42 Anyone who violates the provisions of these Measures by refusing to accept or obstructing supervision and inspection, or committing fraud when accepting supervision and inspection, shall be ordered to make corrections by the ecological environment department or the market supervision department that conducts supervision and inspection, and may be fined not less than 10,000 yuan and ten thousand yuan. A fine of less than 10,000 yuan.
Article 43 If a project owner provides false materials when applying for a voluntary greenhouse gas emission reduction project or registration of emission reductions, the ecological environment department at or above the provincial level shall order it to make corrections and impose a fine of not less than 10,000 yuan but not more than 100,000 yuan; If there is deliberate fraud such as tampering or falsification of data, the ecology and environment authorities at or above the provincial level shall also notify the registration agency to cancel the project registration, and no longer accept applications for registration of greenhouse gas voluntary emission reduction projects and emission reductions submitted by the project owner within three years.
If a project owner obtains false certified voluntary emission reductions due to committing fraud as stipulated in the preceding paragraph, the ecological environment administrative department at or above the provincial level shall notify the registration agency and trading institution to suspend trading in the certified voluntary emission reductions held by the project owner. , order the project owner to cancel the same amount of emission reductions as the false part; if the cancellation is not completed as required within the time limit, the ecological environment department at or above the provincial level will notify the registration agency to force the cancellation, and the insufficient part will be ordered to be returned, and a fine of not less than 50,000 yuan and 100,000 yuan will be imposed. If a fine of less than RMB 10,000 is imposed, applications for greenhouse gas voluntary emission reduction projects and emission reductions submitted by the project owner will no longer be accepted.
Article 44 If the certification and verification agency commits any of the following acts, the market regulatory department that conducts supervision and inspection shall order it to make corrections in accordance with the “Regulations of the People’s Republic of China on Certification and Accreditation” and impose a fine of not less than RMB 50,000 but not more than RMB 200,000. If the illegal gains are illegal, the illegal gains will be confiscated; if the circumstances are serious, the illegal gains will be ordered to suspend business for rectification until the approval document is revoked and announced:
(1) Conducting validation and verification activities beyond the approved business scope;
(2) Adding, reducing, or omitting the procedures stipulated in the basic norms and rules for review and verification.
If the approval and verification agency issues a false report, or the conclusion of the report is seriously inaccurate, the market supervision department shall revoke the approval document in accordance with the “Regulations of the People’s Republic of China on Certification and Accreditation” and make it public; the directly responsible person in charge and those directly responsible Approval and verification personnel shall have their professional qualifications revoked.
The approval and verification agency accepts funding that may affect the objectivity and fairness of the approval and verification activities, or engages in product development, marketing and other activities that may affect the objectivity and fairness of the approval and verification activities, or has assets or management issues with the project owner. If there is an interest relationship, the market supervision department will order the company to suspend business for rectification in accordance with the “Regulations of the People’s Republic of China on Certification and Accreditation”; if the circumstances are serious, the approval document will be revoked and announced; if there are illegal gains, the illegal gains will be confiscated.
Article 45 If a trading entity violates the provisions of these Measures and manipulates or disrupts the national voluntary greenhouse gas emission reduction trading market, the Ministry of Ecology and Environment will issue a notice of criticism and impose a fine of not less than 10,000 yuan but not more than 100,000 yuan.
Article 46 If any relevant staff member of the ecological environment department, market supervision department, registration agency, or trading institution abuses their power, neglects their duties, or engages in malpractice for personal gain, the unit to which they belong or the superior administrative agency shall order them to make corrections and punish them in accordance with the law. .
If the relevant staff of the above-mentioned units leak relevant business secrets or conduct other acts that constitute a violation of national transaction supervision and management regulations, they shall be dealt with in accordance with the provisions of other relevant laws and regulations.
Article 47 Anyone who violates the provisions of these Measures and is suspected of constituting a crime shall be transferred to judicial authorities in accordance with the law.
Chapter 8 Supplementary Provisions
Article 48 The meanings of the following terms in these Measures:
Greenhouse gases refer to natural and man-made gaseous components in the atmosphere that absorb and re-emit infrared radiation, including carbon dioxide (CO 2 ), methane (CH 4 ), nitrous oxide (N 2 O), and hydrofluorocarbons (HFCs) , perfluorocarbons (PFCs), sulfur hexafluoride (SF 6 ) and nitrogen trifluoride (NF 3 ).
Approval and verification agencies refer to conformity assessment agencies established in accordance with the law to engage in the approval of voluntary greenhouse gas emission reduction projects or the verification of emission reductions in voluntary greenhouse gas emission reduction projects.
Uniqueness means that the project does not participate in other greenhouse gas emission reduction trading mechanisms, and there is no double identification of projects or double calculation of emission reductions.
Additionality means that when implemented as a voluntary greenhouse gas emission reduction project, compared with other alternatives that can provide equivalent products and services, it is not the best choice in terms of internal rate of return, financial indicators, etc., and there are problems in financing, key technologies, etc. However, implementation as a voluntary emission reduction project can help overcome the above obstacles and have additional emission reduction effects compared to the baseline scenario determined by the relevant project methodology, that is, the greenhouse gas emissions of the project are lower than the baseline emissions. , or greenhouse gas removals are higher than baseline removals.
Conservatism refers to when there is a lack of effective technical means or technical specification requirements during the accounting or verification process of emission reductions in voluntary greenhouse gas emission reduction projects, and there is a certain degree of uncertainty, making it difficult to accurately judge relevant parameters and technical paths. , conservative methods should be used for estimation and values to ensure that project emission reductions are not overcalculated.
Article 49 Greenhouse gas voluntary emission reduction projects that have been registered by the national climate change authority before March 14, 2017 shall re-apply for project registration in accordance with the provisions of these Measures; emission reductions that have been registered can be continued in accordance with relevant national regulations. use.
Article 50 These Measures shall be interpreted by the Ministry of Ecology and Environment and the State Administration for Market Regulation within the scope of their respective responsibilities.
Article 51 These Measures shall come into effect from the date of promulgation.
