context: Establishing and improving carbon accounting and product carbon footprint management systems has become a priority for Beijing in recent years. Dual objectives include improving the green credentials of domestic firms exporting abroad, while taking steps to ensure industry transparency and accountability as it shifts to stricter controls of carbon emissions. On 21 May, the Ministry of Finance and Commerce released Reform, innovation and opening up work plan for national economic and technological development zones, reiterating calls to improve carbon accounting and product carbon footprint management frameworks within industrial parks and enterprises.
On 27 May, the State Council Information Office held a regular press conference to introduce the new reform and innovation work plan for national-level economic and technological development zones. At the press conference, Wang Zhibin 王志斌 MEE (Ministry of Ecology and Environment) Department of Scitech and Finance director discussed the work plan's call for greater carbon accounting and product carbon footprint management frameworks.
The Ministry places great importance on CO2 emissions accounting, as it is a fundamental part of reducing emissions, said Wang. He provided an update on MEE efforts at product and industry levels
- at the product level
- MEE issued Guidelines for development of PCF accounting standards alongside other central agencies in January 2025
- it has begun formulating technical specifications for a product carbon footprint factor database
- in 2023, officially published electricity carbon footprint factor data filled the gap in domestic datasets
- research is underway on general carbon footprint factors for other basic energy types such as coal, oil and gas, as well as in the transport sector
- MEE is working with NBS (National Bureau of Statistics) and other departments to develop the national greenhouse gas emissions factor database
- the first version of this database was launched in January, publishing 297 emissions factors for the first time
- at the industry and enterprise level
- MEE is researching technical standards for carbon emissions reporting and verification in various sectors
- it has released eight national carbon market technical specifications, covering power generation, steel, cement and aluminium smelting
- a national carbon market management platform has been established
- MEE is researching technical standards for carbon emissions reporting and verification in various sectors
Going forward, the national greenhouse gas emissions factor database will continue to be refined, strengthening the foundation for the transition from dual control of energy consumption to carbon emissions, added Wang.