亚开行-发展和规范碳市场的法律蓝图_法律和政策制定者指南（英）-2025.7_148页_9mb

Legal Blueprint for Developing and Regulating Carbon Markets: Summary

Core Content

This document, Legal Blueprint for Developing and Regulating Carbon Markets—Guidance for Law and Policymakers, provides a comprehensive framework for policymakers and legal professionals in Asian Development Bank (ADB) developing member countries (DMCs) to design and implement legal structures that support the development and regulation of carbon markets. It is structured as a modular guide, offering clear legal building blocks that can be adapted to fit the unique national contexts of DMCs.

The blueprint emphasizes the importance of carbon markets in mobilizing finance and driving climate action, especially in the Asia and Pacific region, which is both highly vulnerable to climate impacts and a major emitter of greenhouse gases (GHG). It outlines key considerations for legal and policy design to ensure the integrity, transparency, and effectiveness of carbon markets, while also addressing the social and environmental responsibilities associated with carbon crediting.

Main Points and Key Information

1. Purpose of the Blueprint

• To provide modular legal building blocks for DMCs to develop regulatory frameworks for carbon markets.
• To support the creation of high-integrity carbon markets and attract carbon finance.
• To guide DMCs in aligning with international norms, particularly those under Article 6 of the Paris Agreement.

2. Key Decisions for Policymakers

• Whether to develop a domestic carbon crediting standard or utilize existing international standards.
• Determining the scope and level of participation in carbon markets.
• Identifying demand sources for carbon credits, such as domestic pricing mechanisms, international compliance systems (e.g., CORSIA), or voluntary markets.

3. Structure of the Blueprint

• Divided into Part A (Introduction and Background) and Part B (Building Blocks of a Carbon Crediting Legislative Framework).
• Includes appendices with minimum requirements, an introduction to carbon markets, and key international forums and standards.

Building Blocks of a Carbon Crediting Legislative Framework

1. Introductory Provisions

• Key Building Block A: Objectives and Principles
  • Defines the purpose of the carbon market framework and its core principles.
• Key Building Block B: Key Definitions
  • Clarifies terms such as carbon crediting project, carbon credit, project proponent, and registry.

2. Governance

• Key Building Block A: Types, roles, and powers of governing bodies.
  • Includes registries, authorization authorities, and MRV entities.
• Ensures clarity in institutional roles to avoid overlaps or gaps in responsibilities.

3. Carbon Crediting Projects

• Key Building Block A: Project Proponent Requirements
  • Includes character requirements, ownership rights, and consents from third parties.
• Key Building Block B: Methodologies and Crediting Standards
  • Offers options for DMCs to develop domestic standards or adopt international ones.
  • Suggests a combination approach for flexibility and scalability.
• Key Building Block C: Integrity Assurance
  • Covers additionality, permanence, no double counting, real and verifiable emissions reductions, and leakage prevention.

4. Carbon Credits

• Key Building Block A: Issuance of Carbon Credits
  • Details the process for issuing credits.
• Key Building Block B: Registration of Carbon Credits
  • Includes registry management, information requirements, privacy, and tracking.
• Key Building Block C: Transfer of Carbon Credits
  • Describes the transfer process, conditions and restrictions, and cancellation and retirement.

5. Article 6 Requirements

• Key Building Block A: Authorization
  • Clarifies the legal authority for approving international transfers.
• Key Building Block B: Corresponding Adjustments
  • Explains the requirements for adjusting national emissions under Article 6.2 and 6.4.
• Key Building Block C: Tracking
  • Outlines the tracking system, responsibility for managing it, and information tracked.
• Key Building Block D: Reporting
  • Details the reporting obligations for carbon credit transactions.

6. Social and Environmental Safeguards

• Key Building Block A: General Safeguards
  • Ensures transparency, accountability, and alignment with sustainable development.
• Key Building Block B: Indigenous Peoples and Local Communities
  • Emphasizes the need for free, prior, and informed consent (FPIC).
  • Highlights benefit-sharing and partnerships to ensure equitable outcomes.

7. Monitoring and Enforcement

• Key Building Block A: Monitoring, Reporting, and Verification (MRV)
  • Stresses the importance of robust MRV systems for environmental integrity and market credibility.
• Key Building Block B: Enforcement
  • Recommends clear powers for national authorities or designated enforcement bodies.
  • Includes project-level enforcement mechanisms and scheme oversight and review.

Additional Information

• The Asia and Pacific region is a key player in carbon markets, with high emissions and vulnerability to climate change.
• Voluntary carbon markets (VCMs) are often used as a starting point for DMCs due to their existing infrastructure and international standards.
• Legal clarity is essential to ensure enforceability and coherence in domestic and international carbon market systems.
• The blueprint is not prescriptive, but rather provides guidance and examples for policymakers to consider in their national legal frameworks.

Conclusion

This Legal Blueprint serves as a resource for DMCs to build legal and regulatory frameworks that support the development of carbon markets. It outlines nine key building blocks, covering legal definitions, governance, project requirements, credit issuance and transfer, Article 6 compliance, social and environmental safeguards, and monitoring and enforcement. The document is timely, given the growing interest in carbon markets and the increasing urgency of climate action. It aims to help governments make informed policy choices and create conditions for effective carbon market engagement.