Carbon markets are facing phase-specific challenges. How will they be promoted from three aspects? Interpretation is here.

The Central Office and the General Office recently issued the "Opinions on Promoting Green and Low-Carbon Transformation and Strengthening the Construction of the National Carbon Market". This is the first central document in the field of carbon market in our country, which clearly outlines the timetable, roadmap, and tasks for the long-term development of the national carbon market. A relevant person from the Ministry of Ecology and Environment stated that they will promote the development of the carbon market from three aspects. Pei Xiaofei, Director of the Publicity and Education Department of the Ministry of Ecology and Environment: The first aspect is to gradually expand the coverage of mandatory carbon markets in an orderly manner, shifting from intensity control to total volume control; the second aspect is to focus on enhancing the vitality of the carbon market, establishing policies and systems for carbon pledging and repurchase, increasing the enthusiasm and initiative of key emissions units in energy saving and carbon reduction; the third aspect is to improve management levels, strengthen the full-process management of carbon data, and crack down rigorously on various fraudulent activities, providing strong support for accelerating the construction of a more effective, vibrant, and internationally influential carbon market. Some industry insiders pointed out that the development of the carbon market still faces certain challenges, such as limited types of trading products and participants in the carbon market, and large price fluctuations. The issuance of the "Opinions" will shift from "results supervision" to "process management", focusing on exploring the value of carbon emissions rights, strengthening the financial support capacity of carbon, encouraging mature regions to take the lead in trials, and forming a multi-level, differentiated carbon market policy system to provide institutional support for the smooth operation of the carbon market.