Proposal to add 9 new administrative procedures on carbon market

(Chinhphu.vn) – The Ministry of Agriculture and Environment proposed adding nine new administrative procedures on allocating greenhouse gas emission quotas and organizing and operating the carbon market.

Adding 9 new administrative procedures on allocating greenhouse gas emission quotas, organizing and operating the carbon market - Illustrative photo

The Ministry of Agriculture and Environment is finalizing a draft Decree amending and supplementing a number of articles of Decree No. 06/2022/ND-CP of the Government regulating greenhouse gas emission reduction and ozone layer protection; including adding 9 new administrative procedures on greenhouse gas emission quota allocation, organization and operation of carbon market.

According to the Ministry of Agriculture and Environment, the draft decree has reduced administrative procedures for assessing the results of greenhouse gas inventories of establishments on the list issued by the Prime Minister and assigned by the Provincial People's Committee to relevant specialized agencies to organize implementation. Accordingly, the Provincial People's Committee only receives reports from establishments that have not been allocated quotas and organizes reviews according to the contents specified in the decree.

The draft decree also amends three administrative procedures to make them transparent and simpler. All new administrative procedures will be implemented as online public services on the National Public Service Portal.

According to the Ministry of Agriculture and Environment, the new additional administrative procedures include: Appraising greenhouse gas inventory results for facilities allocated greenhouse gas emission quotas; registering accounts on the National Registration System; registering recognition and adjusting carbon credit creation methodologies according to the domestic carbon credit exchange and offset mechanism; registering and adjusting projects according to the domestic carbon credit exchange and offset mechanism.

Along with that are the procedures for changing project participants under the domestic carbon credit exchange and offset mechanism; canceling project registration under the domestic carbon credit exchange and offset mechanism; granting carbon credits under the domestic carbon credit exchange and offset mechanism; approving registration to convert programs and projects registered under the Clean Development Mechanism (CDM) to the mechanism of Article 6.4 of the Paris Agreement; approving international transfer of carbon credits, greenhouse gas emission reduction results.

New additional administrative procedures on appraisal of greenhouse gas inventory results for establishments allocated greenhouse gas emission quotas are implemented by the sector management ministry. This is a change compared to the regulation on the Provincial People's Committee organizing appraisal in Decree No. 06/2022/ND-CP, to ensure the level of detail, serving as a basis for allocating greenhouse gas emission quotas. The remaining new additional administrative procedures are to implement additional regulations on the domestic carbon credit exchange and offset mechanism when implementing the carbon market.

In addition, administrative procedures are amended in a simplified direction, including: Confirming carbon credits for exchange on the carbon exchange; approving programs and projects registered under the mechanism of the Paris Agreement.

The new regulations aim to reduce the number of entities required to certify carbon credits and reduce administrative procedures for certifying greenhouse gas emission quotas. The procedures for approving programs and projects registered under the Paris Agreement mechanism will also be clearer and more transparent.

Thu Cuc

Source: https://baochinhphu.vn/de-xuat-bo-sung-9-thu-tuc-hanh-chinh-moi-ve-thi-truong-carbon-102250326122638313.htm