BEIJING/SINGAPORE - China aims to establish an initial carbon footprint management system by 2027, it said on Wednesday (June 5), a move that would create a more comprehensive and unified system of standards to measure carbon emissions.

The system is meant to push toward China's carbon-neutral goal, according to a plan issued by the Ministry of Ecology and Environment and other relevant government bodies.

It aims to release carbon footprint calculation standards for about 100 major products by 2027, and increase that number to 200 by 2030.

It will prioritise the calculation standard releases for products including coal, steel, natural gas, aluminium, lithium batteries and new energy vehicles.

The world's top carbon emitter plans to expand carbon trading to sectors such as steel and cement, and head off the impact of Europe's carbon border adjustment mechanism (CBAM), which will impose tariffs on high-carbon imports.

Key enterprises, including those involved in foreign trade, should take the lead.

Chinese officials have expressed concern that CBAM unfairly penalises China's exporters and doesn't fully take into account the efforts China has made to reduce emissions.

The plan announced Wednesday said China would pay close attention to carbon-related trade policies around the world, build mutual trust and promote the international alignment of carbon footprint standards.

It also said it would use the new standards to encourage low-carbon consumption, with local governments urged to develop pilot programmes and new policies that could encourage enterprises and individuals to buy cleaner products

China last week released a separate plan to reduce the carbon dioxide emissions of key industries by an amount equivalent to about one per cent of the 2023 national total through efficiency gains in everything from steel production to transportation.

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Source: Reuters