Central deployment unveiled! Establish a total carbon emission control system, fully liberalize the competitive link electricity price, and incorporate carbon sink trading into the national carbon market... Let's look at the top ten key points

On October 24, the Opinions on The Complete, Accurate and Comprehensive Implementation of the New Development Concept and the Work of Carbon Neutrality (opinions) issued by the CPC Central Committee and the State Council were officially released. As a "1" in the "1+ N" policy system of carbon peak carbon neutrality, the "Opinions" have made systematic planning and overall deployment for the major work of carbon peak carbon neutrality.

Highlights:

2. Reasonably control the total amount of energy consumption, coordinate the establishment of a total carbon dioxide emission control system, and establish and improve the carbon peak and carbon neutrality standard measurement system

3. Improve the formation mechanism of marketization of electricity and other energy varieties, straighten out the structure of transmission and distribution prices, fully liberalize competitive link electricity prices, promote market-oriented reforms such as coal, oil and gas, and accelerate the improvement of the unified energy market

4. Formulate action plans for science and technology to support carbon peaking and carbon neutrality, and prepare a roadmap for carbon neutral technology development

5. Strengthen the research and development, demonstration and large-scale application of key technologies for hydrogen energy production, storage and application

6. Promote the research and development, demonstration and industrialization application of large-scale carbon capture utilization and storage technologies, and establish and improve the green and low-carbon technology assessment, trading system and scientific and technological innovation service platform

7. Establish an ecosystem carbon sink monitoring and accounting system, and carry out background surveys and carbon storage assessments of carbon sinks such as forests, grasslands, wetlands, oceans, soils, frozen soils, and karsts

8. Accelerate the construction and improvement of the national carbon emissions trading market, gradually expand the market coverage, enrich the trading varieties and trading methods, and improve the allocation and management of quotas

9. Incorporate carbon sink trading into the national carbon emission trading market, and establish and improve the ecological protection compensation mechanism that can reflect the value of carbon sinks。

10. Improve the system of paid use and trading of energy use rights, accelerate the construction of a national energy use right trading market, and strengthen the overall planning and connection of electricity trading, energy use right trading and carbon emission right trading

According to the Opinions, by 2025, an economic system of green and low-carbon circular development will initially take shape, with energy consumption per unit of GDP reduced by 13.5% compared with 2020; carbon dioxide emissions per unit of GDP falling by 18% compared with 2020; the proportion of non-fossil energy consumption reaching about 20%; the forest coverage rate reaching 24.1%, and the forest stock reaching 18 billion cubic meters。

By 2030, the comprehensive green transformation of economic and social development will achieve remarkable results, and the energy utilization efficiency of key energy-consuming industries will reach the international advanced level。 Carbon dioxide emissions per unit of GDP fell by more than 65% compared with 2005; the proportion of non-fossil energy consumption reached about 25%, the total installed capacity of wind power and solar power generation reached more than 1.2 billion kilowatts; the forest coverage rate reached about 25%, and the forest stock reached 19 billion cubic meters。

By 2060, the economic system of green and low-carbon circular development and the clean, low-carbon, safe and efficient energy system will be fully established, the proportion of non-fossil energy consumption will reach more than 80%, the carbon neutrality goal will be successfully achieved, the construction of ecological civilization will achieve fruitful results, and a new realm of harmonious coexistence between man and nature will be created.

Formulate carbon peaking implementation plans for industries and fields such as energy

The "Opinions" pointed out that China has accelerated the green development of agriculture and promoted the efficiency of agricultural carbon sequestration. Formulate carbon peak implementation plans for energy, steel, non-ferrous metals, petrochemicals, building materials, transportation, construction and other industries and fields. Guided by energy conservation and carbon reduction, the catalogue of guidance for industrial structure adjustment was revised. Carry out the "review" of steel and coal capacity reduction and consolidate the results of capacity reduction.

At the same time, China will resolutely curb the blind development of high-energy-consuming and high-emission projects, build and expand high-energy-consuming and high-emission projects such as steel, cement, flat glass, electrolytic aluminum, etc., strictly implement the same amount of production capacity or reduce the replacement, and introduce coal power, petrochemical, coal chemical and other production capacity control policies. Those that are not included in the industrial planning of relevant fields of the State shall not be allowed to build, renovate, expand, refine, refine, or build new ethylene, paraxylene, and coal-to-olefin projects. Rationally control the scale of coal-to-oil and gas production capacity。 Raise energy consumption access standards for projects with high energy consumption and high emissions。 Strengthen overcapacity analysis and early warning and window guidance.

The "Opinions" emphasize that China will vigorously develop green and low-carbon industries, and accelerate the development of a new generation of information technology, biotechnology, new energy, new materials, high-end equipment, new energy vehicles, green environmental protection, aerospace, marine equipment and other strategic emerging industries. Build a green manufacturing system. Promote the deep integration of emerging technologies such as the Internet, big data, artificial intelligence, and fifth-generation mobile communications (5G) with green and low-carbon industries.

Accelerate the cultivation and development of independent market entities in the distribution and sale of electricity

The "Opinions" pointed out that China will strictly control fossil energy consumption, actively develop non-fossil energy, implement renewable energy substitution actions, vigorously develop wind, solar, biomass, marine, geothermal energy, etc., and continuously increase the proportion of non-fossil energy consumption。 Priority will be given to promoting the local development and utilization of wind and solar energy. Develop hydropower according to local conditions。 Actively develop nuclear power in a safe and orderly manner。 Rational use of biomass energy. Accelerate the promotion of pumped storage and large-scale application of new energy storage。 Comprehensively promote the development of the whole chain of hydrogen energy "production, storage and transportation"。

The "Opinions" revealed that China will deepen the reform of the energy system and mechanism, comprehensively promote the reform of the electricity market, accelerate the cultivation and development of independent market entities in the distribution and sales of electricity, improve the connection mechanism between the medium and long-term market, the spot market and the auxiliary service market, and expand the scale of market-oriented transactions。

At the same time, China will promote the reform of the power grid system and clarify the market main body status of incremental distribution networks, microgrids and distributed power generations based on renewable energy consumption. Accelerate the formation of a new power installation development mechanism supported by energy storage and peak regulation capabilities。 Improve the market-oriented formation mechanism for the price of energy varieties such as electricity。 Deepen the reform of electricity prices from the perspective of being conducive to energy conservation, rationalize the structure of transmission and distribution prices, and fully liberalize the price of electricity in competitive links。 Promote market-oriented reforms of coal, oil and gas, and accelerate the improvement of the unified energy market。

Strengthen the research and promotion and application of major green and low-carbon science and technology

The "Opinions" pointed out that China will strengthen basic research and cutting-edge technology layout, formulate action plans for scientific and technological support for carbon peaking and carbon neutrality, and prepare a roadmap for carbon neutral technology development. Adopt the mechanism of "unveiling the leader" to carry out low-carbon zero-carbon negative carbon and energy storage new materials, new technologies, and new equipment. Strengthen research on basic theories and methods such as the causes and effects of climate change and ecosystem carbon sinks. Promote low-carbon cutting-edge technologies such as high-efficiency solar cells, renewable energy hydrogen production, controlled nuclear fusion, and zero-carbon industrial process reengineering. Cultivate a number of state key laboratories of energy conservation, carbon reduction and new energy technology product research and development, national technology innovation centers, and major scientific and technological innovation platforms.

In addition, China will also conduct in-depth research on smart grid technologies that support large-scale friendly grid connection of wind power and solar power generation, and strengthen the research and development, demonstration and large-scale application of key technologies for hydrogen energy production, storage and application. Promote the research and development, demonstration and industrialization of large-scale carbon capture utilization and storage technologies。 Establish and improve green and low-carbon technology assessment, trading system and scientific and technological innovation service platform.

Carbon sink trading is included in the national carbon emissions trading market

The "Opinions" emphasize the need to promote the construction of a market-oriented mechanism, rely on the public resource trading platform, accelerate the construction and improvement of the national carbon emissions trading market, gradually expand the market coverage, enrich the trading varieties and trading methods, and improve the allocation and management of quotas. At the same time, carbon sink trading will be included in the national carbon emission trading market, and a compensation mechanism for ecological protection that can reflect the value of carbon sinks will be established and improved. Improve the system for the paid use and trading of energy use rights, and accelerate the construction of a national energy use right trading market。 Strengthen the overall integration of electricity trading, energy use right trading and carbon emissions trading。

At the same time, the Opinions support eligible enterprises to use listing financing and refinancing for the construction and operation of green and low-carbon projects, and expand the scale of green bonds. Study the establishment of a national low-carbon transformation fund. Encourage social capital to set up a green and low-carbon industry investment fund. Establish and improve the green finance standard system.

In terms of fiscal and taxation price policies, the "Opinions" proposes to study tax policies related to carbon emission reduction, such as improving differentiated electricity prices, time-sharing electricity prices and residential ladder electricity price policies, strictly prohibiting the implementation of electricity price concessions for high-energy-consuming, high-emission, and resource-based industries, and accelerating the formation of a carbon price mechanism with reasonable binding force.

According to the "Opinions", China will study and formulate special laws on carbon neutrality, and pay close attention to revising the Energy Conservation Law, the Electricity Law, the Coal Law, the Renewable Energy Law, the Circular Economy Promotion Law, etc., to enhance the pertinence and effectiveness of relevant laws and regulations. At the same time, we will establish and improve the carbon peak and carbon neutrality standard measurement system, actively participate in the formulation of relevant international standards, and strengthen the international convergence of standards.