Potential risks of double-counting carbon emission reductions in environmental rights trading and countermeasures
Environmental rights trading can help achieve carbon emission reduction targets at a lower cost and play an important role in achieving China's carbon peaking and neutrality goals.Currently,various environmental rights trading mechanisms related to carbon emission reductions are operating in China.The cross-overlapping of these mechanisms and their imperfect accounting rule design may lead to a significant risk of double-counting of carbon mitigation benefits,where the same emission reduction benefit is used to achieve two or more mitigation targets,thereby affecting environmental integrity.This article has systematically reviewed the environmental rights trading mechanisms related to carbon mitigation in China and analyzed in detail the sources and mechanisms of the double-counting risk in environmental rights trading.It is suggested that in order to avoid the risk of double-counting of carbon emission reduction benefits,efforts should be made to strengthen top-level design and coordination between different mechanisms,including the establishment of a unified management platform,the enhancement of information sharing,the improvement of carbon emission statistics and accounting system,the clarification of the positioning and boundaries of various mechanisms,and the avoidance of the cross-overlapping of different mechanisms.
Environmental rights tradingCarbon emission reductionsDouble countingCarbon accounting