Qingyang's first forestry carbon sink project will be included in the national carbon trading market, with total revenue reaching 490 million yuan
Recently, the Forestry and Grassland Bureau of Qingyang City, Gansu Province, as the project owner, successfully opened an account with the National Voluntary Emission Reduction Trading System (CCER), marking important progress in the development of forestry carbon sinks in Qingyang City and its inclusion in the national carbon trading market.
It is reported that the first forestry carbon sink project being actively implemented by Qingyang City-"Afforestation Carbon Sink Project in Ziwuling Forest Area of Qingyang City Forestry and Grassland Bureau" involves more than 500,000 acres of artificial afforestation in the Ziwuling State-owned Forest Area of Qingyang City since 2012. It is expected to produce an average annual greenhouse gas emission reduction of approximately 180,000 tons. The inclusion period is 40 years, and the total emission reduction is more than 7 million tons. According to the budget of 70 yuan per ton, the total revenue of the project can reach 490 million yuan.
In recent years, Qingyang City has closely focused on the "double carbon" goal and made every effort to promote the development of forestry carbon sinks. It has successively issued a forestry carbon sink project development implementation plan, a forest and grass carbon sink development implementation plan, and a forestry carbon sink trading mechanism implementation work plan, identified "four beams and eight pillars" for forestry carbon sink development, and also created a new forestry carbon sink development model of "no sharing of services and no transfer of authorizations."
In the next step, Qingyang City will adopt a city-level overall planning and county-level implementation approach. Based on the pilot projects in the Ziwuling state-owned forest area, it will steadily expand to counties and districts, and strive to complete the first batch of forestry carbon sink transactions this year.
