Page 102 - Research on Financial Development Mechanism and Path of Forestry Carbon Sequestration in Developing Countries under Double Carbon Targets

Research on Financial Development Mechanism and Path of Forestry Carbon
Sequestration in Developing Countries under Double Carbon Targets

istrative license of carbon emission rights in terms of transaction nature, legal basis for
administrative enforcement and administrative punishment is given in terms of supervi-
sion and enforcement, and sound market risk prevention system and technical standards
are given as support in terms of monitoring and performance verification. Each local
government should formulate relevant supporting systems according to the relevant
provisions of the upper-level law and in combination with local conditions, and provide
support for the improvement of legislation through the practice of carbon trading. The
second is to improve the relevant legislative level of carbon emissions trading. Spe-
cial legislation on the trading system of carbon emission rights is promoted within the
framework of the Administrative Measures (for Trial Implementation) to improve the
“quality” and “quantity” of the Administrative Measures (for Trial Implementation).
“Quality” is to upgrade the level of “law” at the level of law, “quantity” is to promote
the formulation of local regulations in each pilot area based on the basic law of the spe-
cial legislation of the carbon emission trading system, making the implementation and
enforcement of the system more authoritative and executive.

2.4.3 International cooperation and technical support
1) Cooperation experience of developed countries
(1) Incorporation into national legislation and policy systems
Countries and regions with relatively mature forestry carbon sinks have generally
made commitments to emission reduction targets in accordance with the core docu-
ments of the Convention, such as the Kyoto Protocol, the Bonn Political Agreement,
the Marrakesh Agreement, the Paris Agreement, etc. The laws of various countries have
also gradually classified the emission reduction targets into the scope of adjustment.
In order to ensure that forestry carbon sinks enter the carbon emission trading market,
most countries and regions have issued relevant bills or policy documents. For exam-
ple, Australia has issued the “Forest Rights Act”, “Carbon Sequestration Rights Act”
and “Property Rights Transfer Act”, which clearly specify the ownership of forestry
carbon sequestration property rights in the form of legal provisions; The “Carbon Cred-
it (Low-carbon Agriculture Initiative) Act 2011”, “Clean Energy Act” and “Agricultural
Carbon Reduction Action Act” were introduced to protect forestry carbon sinks from
participating in carbon trading alone. The EU released the “2030 Climate Target Plan”
in 2020, which plans to plant 3 billion trees in 10 years. At the same time, the EU is ac-
tively preparing for the establishment of a carbon dioxide certification system, and will
incorporate forestry carbon sequestration projects into the mandatory carbon trading

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