[Photo provided to chinadaily.com.cn]
Lin-gang Special Area in Shanghai has launched a new mechanism to facilitate the cross-border exchanges of carbon-related data, the latest pilot step to meet enterprises' cross-border carbon data compliance needs and support China's efforts to align with international green trade rules.
On October 29, the data division of Lin-gang Special Area Administration, together with Carbon Newture Technology and other partners, jointly unveiled the "Carbon Data Cross-border Green Channel", a new mechanism to establish a compliant, safe and efficient cross-border flow channel for carbon data.
The green channel addresses the dilemma facing exporting enterprises as they are asked to provide detailed carbon-related information on raw materials, production processes and upstream supply chains when the legal framework on the cross-border flows of carbon data internationally remains incomplete.
This issue has become increasingly acute as carbon data involves crucial statistics of the various industries in China, while international economic and trade rules have introduced many low-carbon compliance requirements, such as the European Union's Carbon Border Adjustment Mechanism.
Taking the typical scenarios of carbon data cross-border flows of manufacturing companies as pilots, the new mechanism will establish an identification and classification system for key carbon data and provide assessment services of the compliance of outbound carbon data.
This will offer a solution to enterprises' urgent needs for compliant cross-border carbon data exchanges, helping mitigate relevant data risks and aiding Lin-gang Special Area's efforts to build itself as a hub for cross-border carbon data exchanges.
