Xu Huaqing, chief scientist of the National Center for Strategic Research and International Cooperation on Climate Change: More than 4500 new accounts have been opened in the CCER market

Xu Huaqing, chief scientist of the National Center for Climate Change Strategic Research and International Cooperation, said at the sub-forum of the China Carbon Market Conference 2024 with the theme of "Building a Voluntary Emission Reduction Trading Market and Promoting the Participation of the Whole Society" that as of July 15, 2024, China The cumulative transaction volume of certified voluntary emission reductions (CCER) is 472 million tons of carbon dioxide equivalent, with a cumulative transaction volume of 7.092 billion yuan. The CCER market price has increased from about 10 yuan/ton in 2020 to 77.93 yuan/ton in July 2024, an increase of up to 7 times.

National Center for Strategic Research and International Cooperation on Climate Change

Chief Scientist Xu Huaqing

Xu Huaqing introduced that in the six months since the official launch of the National Voluntary Greenhouse Gas Emission Reduction Trading Market, more than 4500 new accounts have been opened, including more than 40 project owners and more than 880 national emission control units; more than 340 key emission units in the local carbon market. There are more than 3200 investment institutions or general enterprises and more than 40 potential projects.

At the same time, in June this year, the National Certification and Accreditation Administration announced the first batch of CCER certification and certification bodies. Among them, 4 institutions have obtained qualifications in two fields of energy and carbon sink, and 1 institution has obtained qualifications in the carbon sink field. This has laid a good foundation for the CCER market.

Xu Huaqing said that at present, the project owners who have newly opened accounts in the voluntary emission reduction trading market are mainly in the four major fields of grid-connected offshore wind power generation, grid-connected solar thermal power generation, afforestation carbon sinks, and mangrove creation. The number of project owners is relatively limited, calling for more project developers and project participants to participate in CCER registration related account opening work as project owners. In the next step, new methodologies will be released in due course, the scope of market support will continue to be expanded, and more project owners and other market entities will be expected to participate in market activities.