The Ministry of Ecology and Environment (MEE) has adopted the Administrative Measures for Voluntary Greenhouse Gas Emission Reduction Trading (Trial).
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APAC
• China: China Certified Emission Reduction (CCER) system - the national greenhouse gas voluntary emission reduction trading system’s governing document - The Administrative Measures for Voluntary Greenhouse Gas Emission Reduction Trading (Trial) has been adopted by the Ministry of Ecology and Environment (MEE). // Technical specification for ecological and environmental investigation and monitoring of protected areas (HJ1311-2023) has been released by the MEE and will enter into force from Nov 2023. // Opinions on further strengthening the conservation and intensive utilization of water resources have been released by the National Development and Reform Commission (NDRC)...
• Republic of Korea: The Financial Services Commission has issued guidance on the "ESG Evaluation Agency" to enhance the transparency and reliability of the ESG evaluation market...
EMEA
• EU: EU to ban greenwashing and improve consumer information on product durability. // The European Central Bank (ECB) published the results of its second economy-wide climate stress test, which shows that the best way to achieve a net-zero economy is to accelerate the green transition to a rate that is faster than under current policies. // Targeted consultation on the implementation of the Sustainable Finance Disclosures Regulation (SFDR) to assess potential shortcomings – focusing on legal certainty, the usability of the regulation, and its ability to play its part in tackling greenwashing...
• UK: Ban on the sale of petrol and diesel cars will be moved back to 2035 and new policies forcing landlords to upgrade the energy efficiency of their properties will be scrapped...
AMER
• US: U.S. Department of The Treasury Releases Principles for Net-Zero Financing & Investment, applauds US$340 Million philanthropic commitment and other pledges. // California’s SB-253 Climate Corporate Data Accountability Act (2023-2024) passed, which would require Scope 1, 2, and 3 emissions disclosures from all companies operating in the state with more than US$1 billion in revenue. // U.S. Securities and Exchange Commission enhances rule to prevent misleading or deceptive fund names, the names rule currently requires registered investment companies whose names suggest a focus on a particular type of investment to adopt a policy to invest at least 80% of the value of their assets in those investments (an “80% investment policy”)...
• Canada: Canada’s Ambassador for Climate Change, announced that Canada will exceed its target of reducing methane emissions from the oil and gas sector by at least 75% from 2012 levels by 2030. The upstream oil and gas methane regulations will be published in drak form later this fall...