These Measures aim to build up an environmental resources-friendly society, accelerate the transformation of the economic development patterns, promote energy conservation and green development, establish and regulate carbon emissions trading market and achieve carbon emission control targets in Shenzhen Municipality. The text consist of 86 Articles divided into 8 Chapters: General provisions (I); Quota administration (II); Quantification, reporting, verification and compliance (III); Carbon emission permits registration (IV); Carbon emission permits trading (V); Supervision and management (VI); Legal liabilities (VII); Supplementary provisions (VIII). The Measures provide for: the responsibilities of the competent authority and relevant government departments for carbon emission permits trading system’s design, plan/policy making, and supervision and administration; the obligations of entities under quota administration and participants of carbon emission permits trading market; the requirements for verification agencies and their staff; and the duties and functions of Shenzhen Emission Exchange as the designated carbon emission permits trading institution. The target total carbon emission volume control shall be carried out. The target total carbon emission volume of the Municipality shall be determined in accordance with the State's and Guangdong province’s compulsory index for greenhouse gas emission control and this Municipality's trend of economic growth and potential on carbon emission deduction (art. 10). Quotas shall be issued to entities under the quota administration through the registration book established by the competent authority. The competent authority shall take appropriate measures to strengthen the supervision and administration on verification agencies.
China · 2014-03-19