Starting from 2011, China has carried out domestic carbon emissions credits trading on a pilot basis. The National Development and Reform Commission (NDRC) issued the notice "Notice on Carrying out Pilot Work on Carbon Emission Trading" (Fagaiban Climate [2011] No.2601), listed Guangdong, Hubei, Beijing, Shanghai, Tianjin, Chongqing, and Shenzhen as “Two Provinces and Five Cities” as pilot carbon emissions rights trading. In December of 2014, the NDRC issued the "Interim Measures for Carbon Emissions Trading Management" to establish the overall framework of the national carbon market. In January of 2016, the NDRC issued the "Notice about Properly Working on the Key Tasks of Starting the National Carbon Emission Trading Market". In December of 2017, the NDRC issued the "the Construction Plan of National Carbon Emission Trading Market (Power Generation Industry)", and the overall design of the national carbon market was completed. In December of 2020, the Ministry of Ecology and Environment passed and issued the "Management Measures for Carbon Emissions Trading (Trial)". In the future, the construction of the domestic carbon market and carbon emissions trading will be gradually improved and expanded to various key emission industries.

PONY provides the following services for government, enterprise and institution

Carbon Verification

Third-party verification entity reviews the emission monitoring plans submitted by key emission companies (or other economic organizations), and implements verification mission on annual greenhouse gas emission reports and supplementary data sheets in accordance with the "Greenhouse Gas Emission Accounting Methods and Reporting Guidelines" and relevant standards and requirements. 

Carbon verification is an essential measure to ensure that the emission data reported by companies is objective, true and accurate, and it is also the cornerstone that the entire carbon trading market could effectively operate. 

Carbon Validation

Taking an enterprise as a unit, PONY follows a series of standard methods and principles to calculate the direct or indirect emission of greenhouse gases from various links in operations and production activities within a certain period of time. Internationally, the ISO14064 greenhouse gas certification standard is commonly used.

Development of Accounting Methodology——PONY provides research, development and application of accounting methodologies for greenhouse gas emissions according to the needs of the government, enterprise and institution.

The ways of Carbon verification are mainly two forms which local competent authority authorizes the third-party entity to implement, or the enterprise independently seek the third-party entity for implementation.

Main Steps

Signing agreements, verification preparation, document review, on-site verification, verification report preparation, internal technical review, verification report delivery and keeping record etc. The verification entity shall follow the principles of objective independence, honesty and trustworthiness, fairness and justice, and professional rigor to carry out verification for the basic situation of the enterprise, accounting boundaries, accounting methods, accounting data, quality assurance and document archiving, and the implementation of the monitoring plan, and finally obtain the verification conclusion.