The Chinese mainland's carbon trading market marked its third anniversary last month, celebrating significant strides in the nation's efforts to combat climate change. Established to reduce greenhouse gas emissions, the market has attracted both domestic and international attention for its ambitious goals and growing participation.
Despite the progress, experts emphasize the need for enhanced legal support and a more professional auditing system to ensure the market's effectiveness and credibility. \"A robust legal framework is crucial for maintaining trust among stakeholders and ensuring that emission reductions are accurately reported,\" says Dr. Li Wei, an environmental policy analyst.
Furthermore, the current auditing processes require more sophistication to handle the increasing volume of transactions and to prevent potential discrepancies. Implementing standardized auditing practices will not only improve transparency but also attract more investors to the carbon market.
As the Chinese mainland continues to lead in global efforts to mitigate climate change, strengthening its carbon trading system will play a pivotal role in achieving its environmental targets and fostering sustainable economic growth.
Reference(s):
China's carbon market needs more legal, auditing efforts, experts say
cgtn.com
