December Sustainability Newsletter - Anew Global Consulting
MIIT releases “Guidelines for Preparing Carbon Footprint Accounting Rules and Standards for Key Industrial Products”?
The Guidelines aim to establish 200 carbon accounting standards for significant industrial products by 2027, with the goal of propelling a green shift in industry. The sectors given priority are steel, non-ferrous metals, petrochemicals, construction materials, and the "New Trio" industries. Under the leadership of the Ministry of Industry and Information Technology, the development of these standards will involve industry groups, top companies, and research institutions. The Guidelines stress the importance of aligning the technical framework for product carbon footprints with the "Greenhouse Gases: Product Carbon Footprint Quantification Requirements and Guidelines (GB/T 24067-2024)" and mandate that product categorizations must conform to the national classification and statistical systems.
MIIT and MEE announce 9 “Zero-Waste Parks" and 19 “Zero-Waste Enterprises"
In an effort to advocate for waste-free manufacturing, improve the utilization of resources, and reduce the generation of solid waste in industries, the Ministry of Industry and Information Technology (MIIT) and the Ministry of Ecology and Environment (MEE) have compiled a collection of outstanding examples of "zero-waste parks" and "zero-waste enterprises." These examples cover a range of sectors, including food and beverages, petrochemicals, automotive, non-ferrous metals, electronics, and building materials.
Government launches roadmap on sustainability disclosure in Hong?Kong
On December 10th, Hong Kong initiated a roadmap for sustainability disclosure, detailing its strategy to mandate that publicly accountable entities (PAEs) implement the ISSB Standards. The Hong Kong Institute of Certified Public Accountants (HKICPA) is seeking feedback from the public on the Hong Kong Standards, which are in complete alignment with the ISSB Standards. The final version of these standards is anticipated to be released by the end of the year, with enforcement scheduled for August 2025. Enterprises listed on the Main Board will be obligated to report in accordance with IFRS S2 Climate-related Disclosures under a "comply or explain" framework starting January 1, 2025, whereas Large Cap Issuers will be subject to compulsory disclosure from 2026 onwards. Financial authorities will enforce the application of the Hong Kong Standards for financial institutions with significant influence, including non-listed PAEs, by no later than 2028.
COP29 reaches agreement on ?international carbon market standards
At the opening plenary on November 11, COP29 approved two key standards under Article 6.4 of the Paris Agreement, which pertain to the development and assessment of projects within the UN carbon market. These standards are designed to facilitate the trading of carbon credits between countries in a manner that is consistent with the goals of the Paris Agreement. The agreement at COP29 is a step towards a more structured and regulated global carbon market, which aims to incentivize emissions reductions and support climate action initiatives worldwide.
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China's Action Plan on Early Warning for Climate Change Adaptation (2025- 2027) published
On November 12, at COP29, Chinese Vice Premier Ding Xuexiang spoke at a high-level session on early warnings hosted by China. During this session, China unveiled its Action Plan on Early Warning for Climate Change Adaptation for the years 2025-2027, aiming to bolster global initiatives under the United Nations' Early Warnings for All program. The strategy encompasses four main objectives: to share tools for assessing climate risks, to create a platform for monitoring, predicting, and providing early warnings about climate risks, to aid in the development of societies that are resilient to climate change, and to strengthen the early warning systems in developing nations.
Anew Global Consulting (https://www.anewglobal.net/en/) ?is a China associate of Inogen Alliance (www.inogenalliance.com) that has more than 6000 consultants and 200 offices in 150 countries. Anew Global Consulting is a professional environment, health, safety (EHS), energy, carbon emission reduction and sustainability consulting and emerging service firm. Our firm is comprised of highly qualified scientists, engineers and management professionals. We cultivate international and local best practices. We provide exceptional solutions for leading multinational corporations, governments and international organizations throughout China and other regions.
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