Guangdong DRC issued The 13th Five-Year Plan (FYP) to cope with Climate Change in Guangdong Province

15 September 2017 – The 13th FYP issued by the Guangdong Development and Reform Commission (DRC) includes the target to reduce the carbon intensity per unit of GDP by at least 20.5% by 2020 compared to the year 2015. It sets out to improve the cap setting, compliance and allowance allocation mechanisms in the pilot Emission Trading System (ETS), but also to proactively assist the establishment of the registration and verification systems of the upcoming national ETS. Furthermore, new carbon finance products such as carbon forwards and carbon swaps will be explored. Particular focus will be put on the main emitters in the Zhujiang Delta Cities and chemical industry.