Applications for new projects in the China Certified Emission Reduction (CCER) scheme, launched in 2012, have been suspended in March 2017 because of low trading volume and a lack of standardisation in carbon audits.
Now, a few weeks ago, China Beijing Environment Exchange (CBEEX), which oversees the scheme, announced that it has finished developing the registration and trading systems for CCER, and that these are ready for inspection before operations resume.
“For forest carbon sinks, the traditional measurement method is to manually calculate the number, height and other data of trees in the sample plot. However, the high cost, low sample coverage, and low monitoring frequency make it difficult to meet the demand for accurate measurements of carbon sinks to support trading,” said Zhang Da, associate professor at the Institute of Energy, Environment, and Economy (3E), Tsinghua University. He said remote sensing technology, represented by airborne LIDAR, has obvious advantages in data reliability, availability, and scale processing, and has brought new solutions for the measurement and monitoring of emission reductions of carbon sink projects. The next step is to strengthen the research and demonstration of carbon sink methodologies such as those of the marine carbon sink and wetland carbon sink, and include more types of carbon sink products into market trading.
Founded in 1980, 3E is a global climate governance think tank, with the earliest team in Chinese universities to carry out energy and climate change research in China.
As an example of the cross-regional carbon trading by CBEEX, Changkou Village in Fujian Province – ranked first in China’s forestry carbon sink emission rights with RMB 805 million (EUR 110 million) in 2021 – issues carbon tickets by evaluating the value of villagers’ forest products, and villagers receive economic proceeds and compensation through these tickets. Locals have regarded carbon tickets as an important source of income for their families.
CCER is considered one key pilar towards China’s “dual carbon goal”: to peak carbon dioxide emissions before 2030 and carbon neutrality before 2060.
Click at the image below to read more. And recall here our post “China’s First ESG Disclosure Guidance” from May 2022.
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- Source: https://www.carboncreditmarkets.com/en/single-post/china-s-voluntary-carbon-market-a-step-closer-to-relaunch