On January 22, 2024, China’s national voluntary carbon market was officially launched in Beijing. The market is an important part of China’s carbon market and is a major institutional innovation that utilizes market mechanisms to mobilize the entire society to participate in greenhouse gas emission reduction actions.
On the first day of the market launch, the total trading volume reached 375,315 tons, with a total turnover of RMB 23,835,280. Enterprises participating in the first day of trading included Sinopec, CNOOC, SINOPEC, NEC, Sinochem, China National Building Material, Beijing State-owned Assets Corporation, Jingneng Group, GTC Group, AVIC Trust, CICC, Guotai Junan Securities, CITIC Securities, Huatai Securities, Henan Center for Environmental Energy, Yueyang Linpaper, Beijing Hecheng Carbon, Moktar, and Fuhou Carbon Investment, among others.
China’s national voluntary carbon market provides support for energy-saving and carbon-reducing actions of various market players in various industries by conducting Certified Emission Reduction, or CCER, transactions. Owners of voluntary carbon emission reduction projects can obtain economic returns through the sale of CCERs and participate more actively and consciously in the development and application of low-carbon technologies.High-emission enterprises can use CCERs to fulfil their carbon emission reduction obligations. Enterprises and organizations can purchase CCERs to offset carbon emissions, achieve carbon neutrality of their products and major activities, and practice low-carbon commitments and fulfil their social responsibilities.
At present, China’s carbon trading is mainly divided into two parts, one is carbon emission right trading, the State will give some key carbon emission units or enterprises to set an emission cap, if the enterprise exceeds this cap, it must go to buy the corresponding quota to offset the excess carbon emissions. The voluntary emission reduction trading market is a systematic innovation to mobilize the whole society to participate in greenhouse gas emission reduction actions, which is conducive to promoting the formation of China’s carbon market system in which the mandatory carbon market and the voluntary carbon market are complementary and interconnected. Promoting the construction of the voluntary carbon market is conducive to supporting the development of forestry carbon sinks, renewable energy, methane emission reduction, energy saving and efficiency projects, and incentivizing a wider range of industries and enterprises to participate in greenhouse gas emission reduction actions.
According to the forecast of Beijing Green Exchange, if we refer to the scale of the carbon market of the European Union, after the financialization of China’s carbon market in the future, it is expected that the annual trading volume will be more than 10 billion tons, and the trading volume is expected to be more than 1 trillion yuan, based on the calculation of its 7 billion-8 billion tons quota.
Carbon offset programs are the tool which can be used in case the actions taken are not sufficient. Stakeholders then can buy offset credits, outside their organizations, to decrease or eliminate Green House Gasses emissions.
Concretely it can be done by investing in clean energy technologies, purchasing carbon credits from previous emissions trading plans, and supporting actions to directly remove CO2 from the air.
In any case, investors, companies, property and asset managers who choose to get carbon offset programs must ensure that their offsets are reliable and recognized.
我们可以通过国际认可的项目对产生碳信用额度的项目进行确认和验证，或直接在价值链中通过所谓的 “嵌入 “过程支持可持续发展实践。
In CNEUCN, by the support of our partners, we analyzes carbon offsetting projects in every necessary stage: from the design one, along then execution, and from the operational/maintenance perspective.
We can validate and verify projects that generate carbon credits through internationally recognized programs or, directly within the value chain, support sustainable practices, by the so called “insetting” process.
联合国气候变化框架公约 (UNFCCC) 清洁发展机制允许实施减排或提供排放限制承诺。仲欧脱碳科技的认证合作伙伴，可以提供这种机制的验证和核查服务。
The United Nations Framework Convention on Climate Change (UNFCCC) Clean Development Mechanism, allows implementation of emissions reduction or emissions limitation commitments.
Our certified partners, can provide validation and verification services which leverage on such mechanism.
Stakeholders can meet the requirements of well-established mechanism such as the Verified Carbon Standard (VCS) and the Gold Standard.
China Europe Carbon Neutral Technology aims to support and substantially contribute to China and Europe path towards carbon neutrality in a holistic and inclusive way by gathering all the stakeholders and creating solutions for each challenge.
China Europe Carbon Neutral Technology will play an active and innovative role in providing services to conceive, shape, design and accomplish the transitions needed to achieve carbon neutrality.