China moves to standardize carbon emission calculations

BEIJING -- China has released a plan to standardize carbon emission calculations across key sectors, as part of efforts to meet its carbon reduction targets.

By the end of 2024, 70 national standards on carbon accounting, footprint, reduction, capture, utilization and storage will be published, covering all key sectors and companies, said the plan issued by the National Development and Reform Commission, the State Administration for Market Regulation and the Ministry of Emergency Management.

In the following year, a standardized calculation and evaluation system will be in place for businesses, projects and products, with key sectors and products meeting world-leading benchmarks for energy consumption control, according to the plan.

In particular, efforts will be made to accelerate the formulation of national carbon footprint standards for new energy vehicles, photovoltaic products and lithium batteries, which are emerging as new drivers of the country's export growth.

China will also work to standardize the carbon footprint of products such as electronics, plastics and construction materials, the plan said.

In a crucial document unveiled recently, China has pledged to improve the mechanisms for green and low-carbon development, saying it will enhance the cap-and-trade system for carbon emissions, and move toward reaching peak carbon emissions and carbon neutrality.

The country aims to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.