With the booming of carbon market and continued completion of carbon trading mechanism, the carbon emission trading regulation has become the key issue in the implementation of China’s 'carbon peak and neutrality' strategy. With respect to the longitudinal distribution of powers, the carbon emission trading regulation follows the principle of 'central decision-making and local implementation', which can easily result in the problem of 'unclear and shared powers and responsibilities' in legislation; besides, the remarkably similar powers of central and local authorities in the legislation for carbon emission trading regulation has led to overlap, abuse and confusion of legislative powers, which further hinder the exertion of self-regulation function by the central and local authorities. On the horizontal distribution of powers, there exists a problem of single regulation in the carbon emission trading regulation. Based on the fundamental concepts of carbon emission trading regulation, this paper proposes to adopt a comprehensive legislation model to implement regulation and incorporate the legislation of carbon emission trading regulation into the framework of climate change legislation. Upon clarification of the targets of carbon emission trading regulation, this paper attempts to provide a systematic solution for the legal system of carbon emission trading regulation in China by identifying the co-governance by multiple regulation entities, completing the incentive-based carbon emission trading regulation system, and standardizing the regulation of carbon emission trading information.
With the booming of carbon market and continued completion of carbon trading mechanism, the carbon emission trading regulation has become the key issue in the implementation of China’s 'carbon peak and neutrality' strategy. With respect to the longitudinal distribution of powers, the carbon emission trading regulation follows the principle of 'central decision-making and local implementation', which can easily result in the problem of 'unclear and shared powers and responsibilities' in legislation; besides, the remarkably similar powers of central and local authorities in the legislation for carbon emission trading regulation has led to overlap, abuse and confusion of legislative powers, which further hinder the exertion of self-regulation function by the central and local authorities. On the horizontal distribution of powers, there exists a problem of single regulation in the carbon emission trading regulation. Based on the fundamental concepts of carbon emission trading regulation, this paper proposes to adopt a comprehensive legislation model to implement regulation and incorporate the legislation of carbon emission trading regulation into the framework of climate change legislation. Upon clarification of the targets of carbon emission trading regulation, this paper attempts to provide a systematic solution for the legal system of carbon emission trading regulation in China by identifying the co-governance by multiple regulation entities, completing the incentive-based carbon emission trading regulation system, and standardizing the regulation of carbon emission trading information.