Research On The Regulatory Legal System Of Carbon Emission Trading Under The Background Of "Double Carbon"

With the rapid development of social economy,more and more greenhouse gases are produced due to economic activities,which leads to dramatic changes in the global climate.Such phenomena as global sea level rise,climate warming and so on begin to occur frequently,and this global climate change begins to gradually negative feedback to humans.In order to solve this global climate change problem,a variety of ways to reduce green-ho greenhouse gas emissions have emerged in front of the public.Carbon emission trading,as a policy based emission reduction tool,reduces the cost of greenhouse gas emissions through the market model to improve the trend of bad atmospheric environmental resources.In order to achieve the goal of energy conservation,emission reduction and environmental protection,the adoption of the Kyoto Protocol is an important turning point for global control of greenhouse gas emissions.In 1998,China signed the Kyoto Protocol and approved it in 2002.Subsequently,China officially launched the pilot work of carbon emissions trading in 2012.China began the pilot work of carbon emissions trading in 2012,and officially launched online trading in the national carbon emissions trading market in 2021.In the past decade,significant achievements have been made in various pilot carbon emissions trading projects in China.Various pilot provinces and cities have promulgated corresponding regulations on the management of carbon emissions trading,clarifying the rights and obligations between various market entities,and regulating the trading behavior of corresponding entities in accordance with the regulations.However,based on these valuable pilot experiences,it is not difficult to find that there are still some problems in China’s carbon emissions regulatory system.First,the level of regulatory laws and regulations is insufficient,and there is a lack of special legal regulations on carbon emissions trading.Local pilot projects are mainly supervised according to local regulations issued by various provinces and cities,but the legislative level is too low and lacks the legal effect of superior laws.The second is that the division of powers among relevant regulatory bodies is unclear.Unclear division of powers among regulatory bodies at all levels can easily lead to regulatory duplication or gaps.Third,the specific supporting system for supervision is not perfect.Among them,mainly includes: First,the market access standards of relevant trading entities are inconsistent.It is precisely because there is currently no unified special legislation in China,leading to significant differences in market access standards for key emission entities,which seriously affects the unified construction of the national carbon emissions trading market.Secondly,the disclosure of transaction information is not perfect.In addition to the simple provisions on the information disclosure obligations of key emission units,competent authorities,and exchanges,China’s legal regulations do not clearly stipulate the disclosure obligations and disclosure content of other market trading entities.Third,there is a lack of supervision over third-party verification institutions.Currently,there is no legal regulation on regulating third-party verification institutions in China,which will increase the risk of third-party verification institutions conspiring with the entrusting party to produce false carbon emission reports.Fourth,the accountability system is not strict.Most of the illegal acts of carbon market participants in China are small fines,and simple penalties cannot crack down on the criminal acts of the actors.Based on this,we will further improve the regulatory legal system of carbon emissions trading in China by drawing on the relevant experience of European and American carbon emissions trading legal systems and combining the actual situation of China.The Standing Committee of the National People’s Congress(NPC)can issue a special legal regulation on carbon emissions trading to guide the implementation of national carbon trading activities,as can the European Council’s Directive2003/87/EC(hereinafter referred to as “Directive 2003”),or it can amend the current effective upper level law to fill the gap in carbon emissions trading regulation;In order to solve the problem of unclear division of authority among regulatory bodies,it is possible to clarify the division of authority between trading authorities at all levels and relevant cooperating departments in legal documents,and establish a joint working group of departments to address the phenomenon of overlapping or loopholes in regulation;To improve the specific regulatory supporting system,it can be improved from four aspects: to unify the market access standards for trading entities,a unified access standard for key emission entities can be established at the national level(allowing local authorities to apply within a certain floating range of the standard).For other trading entities,local authorities can adjust measures to local conditions and establish access standards that meet the needs of local economic development;You can also refer to the information disclosure implementation regulations issued by the European Union and improve the information disclosure system for carbon emissions trading by formulating relevant information disclosure implementation rules to clarify the subject and content of information disclosure;Strengthen the supervision of third-party verification institutions by strengthening the intensity of qualification review of third-party verification institutions and their inspectors,and improving the legal responsibilities of third-party verification institutions and their related inspectors;Establish the authority of legal regulations on carbon emissions trading by setting up more types and stronger punishment measures,and severely crack down on the recurrence of illegal crimes.