context: The Ministry of Ecology and Environment, the National Development and Reform Commission and three other central agencies issued guidelines for the preparation of product carbon footprint accounting standards on 6 January 2025. Following the management system implementation plan issued in June 2024, the latest guidelines aim to coordinate various accounting standards (group, industry and national) while promoting alignment with international standards and domestic conditions. Previously, the centre has set the goal of formulating 100 PCF accounting standards by 2027, and 200 by 2030.
Developing PCF accounting standards is one of the 'two key pillars' for establishing a comprehensive management system, said an official from the MEE (Ministry of Ecology and Environment) Department of Climate Change in response to reporter questions about the latest guidelines.
The guidelines aim to address the issues of low coverage, weak influence and insufficient standardisation of current PCF accounting standards. Based on the national standard greenhouse gas product carbon footprint quantification requirements and guidelines (GB/T 24067–2024), it specifies four main areas with 20 key tasks,
- clarifying standard-setting procedures and technical requirements
- coordinating the various levels of accounting standards
- promoting orderly integration and application of standards
- strengthening international exchanges and integration of accounting standards
Following the principle of 'urgent use first, steady progress' the preparation of key PCF accounting standards will be prioritised, alongside the calculation of carbon footprint factors.
Integrating Chinese characteristics while aligning with international standards is a key part of the document, the official added. The PRC will seek to participate in international exchanges to revise international standards and promote the country's own PCF standards.
To further support implementation, MEE will seek to promote the broad application of PCF accounting standards in carbon pricing, dual control of carbon emissions, green procurement and low-carbon tech. The connection between PCF standards and related systems of green product certification, energy efficiency labelling, carbon labelling and renewable energy green electricity certificates will also be strengthened.