China releases “opinions” on financial support for peaking carbon emissions, achieving carbon neutrality

On May 30, 2022, China’s Ministry of Finance released its “opinions” on financial support for peaking carbon emissions and achieving carbon neutrality. The opinions set some objectives (e.g., to establish a basic framework by 2025) to gradually develop a financial framework for low-carbon development. The opinions also include specific measures, such as promoting the new energy vehicle industry, establishing a reliable extended producer responsibility system for vehicles and electrical and electronic equipment, developing systems for pollution allowance purchase and pollution trading, and advancing green procurement by the government.