(Adopted at the twelfth 17th ordinary session of the People's Government of the Great Britain and Northern Province on 17 December 2013, No. 197 of 15 January 2014, by the Decree No. 197 of 15 January 2005 of the People's Government of the Province of the Great Britain and Northern Ireland, on 1 March 2014.

Chapter I General

Article 1 plays the role of market mechanisms to achieve the objectives of greenhouse gas emission control, regulate carbon emissions management activities and develop this approach in the light of the actual practice of the province.

Article 2 reports and verification of carbon emissions in the administrative areas of this province, as well as management activities such as quotas, credits and transactions, are applicable.

Article 3. Carbon emissions management should be guided by the principles of openness, equity and integrity, and should adhere to the Government's efforts to bring together markets.

Article IV

The Government of the people at all levels is responsible for guiding and supporting the work related to carbon emissions management within the current administration.

The development reform sector at all levels is responsible for the organization of corporate carbon emissions information reports and verification.

Ministries such as economic and informationization, finance, housing urban and rural construction, transport, statistics, prices, quality, finance, are responsible for the management of carbon emissions in accordance with their respective responsibilities.

Article 5 encourages the development of voluntary greenhouse gas emission reductions projects, such as forestry carbon sinks, to lead businesses and units to adopt energy-efficient carbon measures. Raising public participation in awareness-raising and promoting low-carbon energy activities across society.

Chapter II

Article 6.

Annual emissions of 1 million tons of carbon dioxide and more industrial industrial enterprises, with more than 5 ktonnes of carbon dioxide emissions, hotels, finance, trade, public institutions, etc. controlling emission enterprises and units (hereinafter referred to as controlled enterprises and units); and annual emissions of more than 1 million tons of carbon dioxide emissions for industrial enterprises requiring reporting (hereinafter referred to as the enterprise reporting).

The standards and scope of the transport area included in the controlled enterprises and units are presented by the provincial development reform sector with the transport sector. In accordance with the progress made in the management of carbon emissions, the information reports and verification are included in a sub-item.

Article 7.

Exclusive businesses and units should entrust verification bodies with verification of carbon emissions information reports, in conjunction with the activities of the verification body and with verification costs.

Information on emissions from enterprises and units is less than 10 per cent or more than 10,000 tons of annual carbon emissions identified in the verification report, and the provincial development reform sector should be reviewed.

The development reform sector at the provincial and local levels is screened for the enterprise carbon emissions information reports and the costs are included in the same financial budget.

Article 8 professional bodies that undertake carbon emission verification operations within the region should have the corresponding qualifications for verification operations and have established and necessary facilities for operational activities in this province.

Institutions and their staff involved in verification of professional services should conduct carbon emissions verification operations in accordance with the law, independence and impartiality, be responsible for the normative, authentic and accurate nature of the verification reports issued and assume legal responsibility under the law.

Article 9.

Chapter III

Article 10 provides for carbon emission quotas in this province (hereinafter referred to as quotas). Enterprises and units, new ones (including expansion, alteration) emissions of more than 1 million tons of carbon dioxide (hereinafter referred to as new construction projects) are included in the quota management; and other emissions enterprises and units may apply for inclusion in the quota management, as agreed by the provincial development reform sector.

Article 11. The overall distribution of quotas in this province is determined by the Government of the province, in accordance with the overall objective of national control over greenhouse gas emissions, in the context of the priority industrial development planning and the rational control of the total energy consumption targets in this province, and is regularly published in society.

The total quota distribution consists of quotas for banks and units plus reserve quotas, including the new construction project enterprise quotas and market regulation quotas.

Article 12. The provincial development reform sector should establish the implementation programme for quotas in the province, specifying the principles, methods, and processes of the allocation of quotas, which are evaluated by the Quadrock Approval Committee and published by the Government.

The quota-sharing evaluation committee consists of experts from the provincial development reform sector and relevant provincial industry authorities, in the areas of technology, economy and low-carbon, energy, industry associations, business representatives, which are not less than two thirds of the total membership.

Article 13. Annual quotas for enterprises and units are determined by the provincial development reform sector in accordance with sectoral baseline levels, emission potentials and the level of corporate historical emissions.

Article XIV imposes a partial free distribution and partial payment of quotas for the controlled enterprises and units and reduces the proportion of free quotas.

On 1 July, an annual free quota was granted by the provincial development reform sector in accordance with a proportion of the total number of controlled enterprises and units.

Article 15 regulates the merger of ranking enterprises and units with their quotas and corresponding rights and obligations to be enjoyed and assumed by the merged enterprises; the separation of movable enterprises and units should be established and the timely presentation of provincial, municipal development reform sector reserves.

Article 16 provides for a change of application for quotas to the provincial development reform sector and a re-approved quota for the discontinuation of the production of controlled enterprises and units that make significant changes in the business situation.

Article 17 quantification of emission information reports and verification reports shall be submitted within one month prior to the completion of the closure or relocation process and, as required, the submission of quotas.

Article 18, by 20 June each year, the vested enterprises and units shall complete the quota collection process based on actual carbon emissions in the previous year, and shall be cancelled by the provincial development reform sector. The remaining quota for the enterprise year could be used in subsequent years or could be used for quotas.

Article 19 However, China certified voluntary emission reductions not exceeding 10 per cent of actual carbon emissions in the previous year of the enterprise, but more than 70 per cent should be generated by voluntary greenhouse gas emission reduction projects in this province.

The certified voluntary emission reductions by the vested enterprises and units within their emission boundaries shall not be used to offset carbon emissions from the controlled enterprises and units of the province.

The certified voluntary emission reductions of 1 metric tonnes of carbon dioxide equivalent may be offset.

The quota for new construction project enterprises is approved by the provincial development reform sector on the basis of the carbon emission assessment findings reviewed by the local development reform sector. The new construction project enterprises are free of charge when they are required to purchase a reimbursable quota in full.

Article 21, the provincial development reform sector adopts a competitive approach whereby a reimbursable quota is granted on a regular basis for the platform established by the Provincial Government. The competition price would be determined by the provincial development reform sector with the price authorities.

The quota granted by competing prices consists of a reimbursable quota for existing controlled movable businesses and units, new construction projects and market regulatory quotas.

Article 2 provides for a quota registration management in this province. The distribution, change, surrender, write-off of quotas shall be registered by law in the quota registration system and effective from registration.

Chapter IV

Article 23 introduces a quota trading system in this province. The transactional subject is controlled by an enterprise and unit, a new construction project enterprise and a defined other organization and individuals.

Article 24 Exchanges should perform the following responsibilities:

(i) Develop rules on transactions.

(ii) Provide transaction sites, systems facilities and services and organize transaction activities.

(iii) The establishment of a financial settlement system that conducts transactions, liquidation and financial regulation by law.

(iv) Establish a transaction information management system, publish information such as transaction trajectory, transaction price, transaction volume, and disclose information that may lead to significant changes in the market in a timely manner.

(v) Establish a trading risk management system to control and monitor transaction activities.

(vi) Other responsibilities under legal regulations.

The rules of transactions should be published after the provincial development reform sector, the provincial financial authorities are reviewed.

Article 25 Limit transactions take the form of public competition, national legislation, standards and provisions allowing for the transfer of agreements.

Article 26 The price of a quota transaction is determined by the trader in accordance with market supply relations, and any unit or individual may not be subjected to fraud, malicious collation or other means to manipulate transaction prices.

The transaction participant shall pay the transaction fee in accordance with the provisions. The transaction fee rate is presented by the exchange and is implemented after the approval of the provincial price authorities.

Article 28 of this province explores the establishment of a cross-regional carbon emissions trading market and encourages other regional enterprises to participate in carbon emissions trading in the province.

Chapter V Oversight management

Article 29 states that the provincial development reform sector should publish, on a regular basis, the management of movable businesses and units through government websites or the media, and report on the implementation of this approach by enterprises.

The provincial development reform sector should make a directory of the public verification body and enhance oversight management of the verification body and its verification work.

Article 31 establishes an enterprise carbon emissions information reporting and verification system and carbon emission trading system in this province. Exclusive enterprises and units, reporting businesses should make the relevant data available in accordance with the requirements for opening accounts and reporting.

Article 31, which governs the approval of actual carbon emissions and the allocation of quotas, may be reviewed by law to the provincial development reform sector. The provincial development reform committee sector should be mandated to review the verification body; there is a dissenting to the allocation of quotas; the provincial development reform sector should be verified and written responses within 20 days.

The provincial development reform sector should establish the control of movable businesses and units, verification agencies and exchange of credit files, recording, integrating, issuing carbon emissions management and transactions-related credit information on a timely basis.

Article 33, on the same terms, supports the priority corporate declaration of responsibility to support projects in the areas of low-carbon development, energy efficiency, renewable energy development, recycling economic development, giving priority to the provision of specific financial support such as low-carbon development in the province, energy consumption and economic development.

Article 34 encourages financial institutions to explore financing services for carbon emissions trading products and to provide financing support for units that incorporate quotas to reduce carbon projects.

Article XV provides for a reimbursable allocation of income, with two lines of income and expenditure to be incorporated in financial management.

Chapter VI Legal responsibility

Article 16, in violation of article 7 of this approach, stipulates that a controlled enterprise and unit, and a reporting enterprise consists of one of the following acts, shall be converted by the provincial development reform sector to the period of time; the overdue uncorrected and punished:

(i) Restatements, seizures or refusal to comply with carbon emissions reporting obligations, with a fine of more than 30,000 dollars.

(ii) Obstacles the verification body's on-site verification by refusing to submit the relevant evidence by providing for a fine of more than 30,000 dollars; in the case of serious circumstances, a fine of 50,000.

In violation of article 18 of this scheme, enterprises that do not pay their quota in full are charged by the provincial development reform sector to fulfil their obligations of payment; the refusal to fulfil their obligations to pay; and the deduction of a total of 2 times the amount outstanding in full in the next annual quota; and a fine of $50,000.

Article 338 deals with one of the following acts, which is being rectified by the provincial development reform sector and a fine of more than 50,000 dollars:

(i) No transaction information is published in accordance with the provisions;

(ii) Failure to establish and implement a risk management system.

Article 39 of the verification professional body violates article 8, paragraph 2, of this approach, by one of the following cases, by the change of time limits in the provincial development reform sector, and by fines of over 50,000 dollars:

(i) Reports of false and unrealistic verification;

(ii) Information on commercial secrets and carbon emissions from verification units without authorization.

Article 40 Development of the reform sector, the relevant management and its staff, in violation of the provisions of this approach, has one of the following acts, been converted and criticized by their superior authorities or by the inspection body; in the case of serious circumstances, the responsible supervisors and other responsible personnel are disposed of by the office or the supervisory authority in accordance with the authority of management; and in the case of suspected crimes, the transfer of criminal responsibility to the judiciary is lawful:

(i) In the context of work such as quotas, carbon emissions verification, carbon emissions validation, verification body management, there is no legitimate interest;

(ii) Inadequate redress and investigation of the founding offences;

(iii) Disclosure of confidential information relevant to the quota transaction, which has serious implications;

(iv) Other abuses of authority, omissions, provocative fraud.

Chapter VII

Article 40 provides for verification, quota distribution, financial services support, etc. of the enterprise carbon emissions information report, which is developed separately by provincial development reforms, financial sector-based approaches.

Article 42

(i) Carbon emissions quotas refer to quantified emission targets assigned to enterprises for production and operation. The 1-tons quota equal to 1 tons of carbon dioxide emissions.

(ii) New project quotas refer to the projected annual carbon emissions of the development reform sector after the construction of new construction projects approved by the new project carbon emissions assessment report, and to the granting of quotas accordingly.

(iii) Market regulation quotas, which refer to the Government's 5 per cent of the total number of existing ranking enterprises and unit quotas for carbon market fluctuations and changes in the economic situation.

(iv) China certified voluntary emission reductions as a result of certified emission reductions by the National Development Reform Commission in accordance with the voluntary greenhouse gas emission reduction project in the context of the Montreal Protocol on the voluntary mitigation of greenhouse gases.

Article 43