China's State Council issues plan to create carbon control system

BEIJING (Reuters) - China's cabinet on Friday issued a work plan to accelerate the development of a carbon emissions control system to help China meet its target of hitting peak carbon emissions by 2030.

It will create a so-called "dual-control" system for carbon emissions during the next five-year plan period from 2026 to 2030, the notice by the State Council said.

That system will focus on the intensity of carbon emissions as well as measuring overall emissions.

Carbon budgets will be created by China's provinces and municipalities, and the budgeting system will be trialed before the end of 2025.

The plan also called for an improvement in the statistical and accounting system for carbon emissions by 2025, with a focus on key industries such as power, steel, metals, building materials, and petrochemicals.

It said the intensity of energy consumption will no longer be taken as a binding indicator during the next five-year plan period, as China transitions to a focus on how much carbon is emitted, not simply the intensity of energy use.

Carbon emissions quotas will be incorporated into national economic and social development planning, the State Council said. Energy conservation assessments of fixed asset investment projects will have to take carbon emissions into account.

(Reporting by Colleen Howe; Editing by Ros Russell)