China’s Ministry of Ecology and Environment announced on March 6 that the first batch of Certified Voluntary Emission Reductions (CCERs) has been officially registered in the national voluntary greenhouse gas emission reduction trading market (referred to as the "voluntary carbon market").
Source: China News Service
China’s Ministry of Ecology and Environment announced on March 6 that the first batch of Certified Voluntary Emission Reductions (CCERs) has been officially registered in the national voluntary greenhouse gas emission reduction trading market (referred to as the "voluntary carbon market"). This marks a significant step forward in the development of China’s voluntary carbon market and is expected to encourage wider participation from industries and enterprises in green and low-carbon initiatives.
Under the system, eligible voluntary emission reduction projects can apply for CCER certification after undergoing third-party validation and verification, followed by review and approval by the registration authority. Once registered, CCERs can be traded on the national voluntary carbon trading platform, allowing project developers to generate revenue from their emissions reductions. The first batch of registered CCERs comes from offshore wind power and solar thermal power projects in Jiangsu, Gansu, and other regions. In total, 9.48 million metric tons of CO₂ equivalent have been registered, with an estimated average annual reduction of approximately 3.59 million metric tons over the next decade.
A representative from the Ministry of Ecology and Environment’s Department of Climate Change stated that this milestone brings new opportunities for China’s carbon market. The registration of CCERs provides regulated enterprises with more compliance options, helping to lower costs and support the policy goal of achieving cost-effective emissions reductions. Additionally, the voluntary carbon market serves as a financial incentive for projects with clear emissions-cutting benefits but high upfront costs, accelerating the transition to a green and low-carbon economy.
China is committed to developing a high-quality voluntary carbon market while enhancing its international recognition and influence. As the market expands to include more sectors, an increasing number of emission reduction projects are expected to participate, creating broader growth opportunities for China's voluntary carbon trading system.
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