Voluntary greenhouse gas emission reduction transactions help state-owned and central enterprises reduce costs and increase efficiency

Recently, CNOOC Energy Development Co., Ltd., CNOOC Power Investment Co., Ltd. and Daqing PetroChina International Enterprise Co., Ltd. have successively completed the purchase and sale of 790,000 tons of certified voluntary emission reductions (CCER) on the Beijing Green Exchange. This transaction is the largest single transaction in the history of CNOOC China's CCER carbon assets. The subject matter is the emission reduction generated by the "400,000 tons/year Calcined Coke Project Waste Heat Utilization Cogeneration Project." This project was completed in August 2016. The emission reduction amount was filed and issued.

According to the "Notice on Arrangements for Work Matters Related to the National Greenhouse Gas Voluntary Emission Reduction Trading Market" by the Ministry of Ecology and Environment, CCERs generated before March 14, 2017 can be used to offset the national carbon emissions trading market before December 31, 2024. Payment of carbon emission quotas. The CCER of this transaction will eventually be used to offset and settle carbon emission quotas for key emission units in the national carbon emissions trading market affiliated to China Petroleum, helping state-owned and central enterprises reduce costs and increase efficiency.

As of September 27, 38 application projects have been announced in the national voluntary greenhouse gas emission reduction registration system and information platform, covering the first batch of afforestation carbon sinks, grid-connected solar thermal power generation, and grid-connected offshore wind power generation, and grid-connected marine wind power generation and mangrove construction.

In the next step, under the guidance and support of the Ministry of Ecology and Environment and other competent departments at all levels, the Beijing Green Exchange will continue to do a good job in all aspects of CCER trading, mobilize a wider range of industry enterprises to independently and voluntarily carry out greenhouse gas emission reduction actions, and contribute to the construction of a more effective, more dynamic and internationally influential carbon market.