China to implement interim regulations for Carbon Emission Trading in May

China’s Ministry of Ecology and Environment (MEE) announced on Monday that the Interim Regulations for the Management of Carbon Emission Trading will take effect on May 1, 2024. These regulations mark a significant step for China, which operates the world’s largest carbon market regarding covered greenhouse gas emissions.

Carbon trading involves the buying and selling permits to emit carbon dioxide or other greenhouse gases, limited to designated emitters holding such rights.