Beijing recently released a regulation governing carbon emission trading and an action plan to enhance the city's adaptability to climate change, according to the municipal bureau of ecology and environment. 

The city will create a list of carbon-emitting organizations, and allocate carbon emission quotas for major emitters. 

By 2035, Beijing aims to significantly enhance its capability to respond to climate change, with improved policy system and mechanism, according to the plan. 

Organizations with annual energy consumption exceeding 2,000 metric tons of standard coal equivalent will be included on the list of carbon-emitting organizations. Those with consumption volume exceeding 5,000 metric tons are recognized as major carbon-emitting organizations, which will receive both free and paid carbon emission quotas. 

A carbon emission trading system will be implemented, allowing trading of the city's carbon emission quotas, approved voluntary greenhouse gas emissions reductions, and other carbon trading items. 

The carbon market is viewed as a crucial policy tool for controlling and reducing greenhouse gases, and a fundamental mechanism for achieving the country's carbon peaking and neutrality goals, according to Ming Dengli, director general of the Department of Climate Change at the Beijing Municipal Ecology and Environment Bureau. 

As a national pilot city, Beijing has been at the forefront of exploring and improving the carbon market system. In recent years, the capital city has taken the lead in addressing climate change by exploring innovative low-carbon development models, Ming said.

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