Zhoushan issues management measures for the development and trading of marine carbon sinks (blue carbon)

Recently, the "Measures for the Development and Trading of Marine Carbon Sink (Blue Carbon) in Zhoushan City (Trial)"(hereinafter referred to as the "Measures") was released, clarifying for the first time that scientific and standardized marine carbon sink development can effectively promote marine ecological environment protection and restoration, and accelerate the construction of a new path for blue carbon to enrich the people.

The "Measures" consist of seven chapters and 35 articles, which are divided into general principles, declaration and registration of marine carbon sink projects, marine carbon sink verification and registration, marine carbon sink trading, approval and verification agency management, supervision and supplementary provisions, fully connecting with the "Greenhouse Gas Voluntary Emission Reduction Trading Management Measures (Trial)" and "Zhejiang Province Carbon Inclusive Emission Reduction Management Measures for Carbon Neutralization for Large-Scale Activities (Meetings)", the management framework for marine carbon sink development and trading has been reasonably constructed.

For example, innovatively introduce a full-process management mechanism from project design, declaration, accounting, verification, registration to transaction, institutionalize and clarify various entities and their rights and responsibilities in the process of marine carbon sink development and management, and protect the legitimate rights and interests of all participants; Strictly stipulate project application conditions and material requirements, set up a clearance mechanism for non-qualified projects, and introduce third-party institutions with professional capabilities to conduct verification to ensure authenticity and uniqueness.

It is understood that marine aquaculture projects that have applied for registration of other voluntary greenhouse gas emission reduction mechanisms at home and abroad are not allowed to apply for registration of marine carbon sink projects. If the main body of the project owner is lost or the project no longer exists in a registered marine carbon sink project, the registered project will be cancelled after investigation and verification by the registration agency. Marine carbon sink trading is conducted through listing agreements, bulk agreements, one-way bidding and other trading methods that comply with regulations. Based on the transaction results provided by the trading institution, the registration agency timely changes relevant information such as the number and holding status of marine carbon sinks held for the trading entity.

The Measures also encourage public institutions, enterprises, and social organizations to use marine carbon sinks in the creation of low (zero) carbon pilots and the creation of "zero carbon" public institutions. Encourage conferences, forums, exhibitions, events, performances and other activities held in Zhoushan City to give priority to purchasing marine carbon sinks to offset carbon emissions and achieve carbon neutrality. Encourage obligors for compensation for ecological and environmental damage to voluntarily purchase marine carbon sinks to carry out alternative restoration on the premise of complying with relevant laws, regulations and policies for ecological and environmental restoration. Project owners and other trading entities are encouraged to voluntarily cancel their marine carbon sinks for public welfare purposes.