Ministry of Ecology and Environment: The national voluntary greenhouse gas emission reduction trading market has achieved results

On November 6, the Ministry of Ecology and Environment held a regular press conference in November. Xia Yingxian, Director of the Climate Change Response Department of the Ministry of Ecology and Environment, answered reporters 'questions on the national voluntary greenhouse gas emission reduction trading market.

Xia Yingxian introduced that the national voluntary greenhouse gas emission reduction trading market (CCER Market) is the successor to the National Carbon Emissions Trading Market (Mandatory carbon markets), my country launched another important policy tool to help achieve the goal of carbon peak and carbon neutrality. Since its launch in January this year, it has mainly achieved progress in three aspects.The first is to build a basic institutional framework.The Ministry of Ecology and Environment, in conjunction with the State Administration for Market Regulation, issued the "Measures for the Management of Voluntary Greenhouse Gas Emission Reduction Trading (trial)", guiding the formulation and release of relevant supporting system documents, and providing market entities with standardized guidance for the entire process and all elements.The second is to clarify the priority areas of market support.We released the first batch of four voluntary emission reduction project methodologies, including afforestation carbon sinks, grid-connected solar thermal power generation, grid-connected offshore wind power generation, and mangrove construction. After that, we organized the compilation of methodologies for coal mine gas utilization and tunnel lighting energy conservation to support methane utilization. Development in areas such as transportation energy conservation and further expansion of market support areas.The third is to complete infrastructure and institutional construction.Organized the construction of a national unified registration system and trading system for voluntary greenhouse gas emission reduction and has been put into operation. The CCER market will be launched in January 2024. In June, the National Certification and Accreditation Administration approved a number of certification and verification agencies. As of October 2024, 44 emission reduction projects have been announced. Based on the projects that have been announced so far, it is estimated that more than 11.37 million tons of certified voluntary emission reductions will be generated every year.

In the next step, our Ministry will continue to improve the voluntary greenhouse gas emission reduction trading mechanism and further leverage the positive role of market mechanisms in controlling and reducing greenhouse gas emissions.The first is to strengthen institutional design.Guide registration institutions and trading institutions to establish management systems and strengthen internal management of institutions. Establish and improve supervision and management mechanisms for different market entities such as project owners and approval and verification agencies to standardize the behavior of market entities.The second is to expand market support areas.Regular and open selection and evaluation of development methodologies. Combined with my country's carbon peak and carbon neutrality realization process and the development and progress of relevant industries, timely update the applicable conditions of methodologies, emission reduction accounting methods and additionality demonstration methods, dynamically manage the entire process, and ensure the scientific nature, rationality and operability of the system.The third is to establish and improve a data quality supervision mechanism.Cooperate with relevant departments to establish regular supervision, assistance and law enforcement inspection mechanisms, improve the informatization and intelligent level of data quality supervision, and strictly control, strictly investigate, and severely punish voluntary emission reduction projects and emission reduction fraud. We look forward to improving the construction of voluntary carbon markets from the above three aspects.