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Carbon Emissions Trading in China: Legal Framework and Chemical Industries Obligations

Chemical industry is inevitable to be included in China’s national carbon emission trading market. For relevant companies, it is necessary to have a clear knowledge of the legal framework of the carbon emission management and how to comply with the corresponding obligations.

The greenhouse gas emissions spewed out by fossil fuel burning, forest destruction and other human activities have caused the climate crisis, the IPCC (Intergovernmental Panel on Climate Change) special report shows. To cope with climate change, China has pledged to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. On July 16, 2021, China, as the world’s largest emitter of greenhouse gases, has officially launched the national carbon emission trading market (hereinafter referred to as ‘Market’), which is a landmark in China’s efforts to go green (ChemLinked news).

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