China Lists First CCER Projects Under National Voluntary Carbon Market
China has listed on Monday the first Chinese Certified Emission Reduction (CCER) projects for public consultation, around eight months after the relaunch of the Chinese Certified Emission Reduction (CCER) scheme in January.
The interim registry operator, the National Center for Climate Change Strategy and International Cooperation (NCSC), began accepting project registration applications on Aug. 23, OPIS reported earlier. The CCER was previously suspended in 2017 after a five-year run.
A total of 33 projects have been listed on the CCER registry across all four methodologies currently available, that are expected to generate 9.67 million metric tons (mt) of carbon dioxide equivalents (tCO2e) per year or 96.43 million tCO2e in total, registry data showed.
A total of 19 grid-connected offshore wind power projects have been listed, expected to generate 8.97 million tCO2e/year of emission reductions or 85.28 million tCO2e in total. Additionally, 8 afforestation carbon sink projects are listed, projected to generate 249,389 tCO2e/year or 6.55 million tCO2e. Four
distributed grid-connected solar thermal projects are expected to produce 451,757 tCO2e/year, totaling 4.52 million tCO2e. The remaining 2 projects involve mangrove creation, estimated to reduce emissions by 2,805 tCO2e/year, totaling 77,795 tCO2e.
The crediting period for these projects spans from 2020 to 2023, with annual reductions of 17.83 million tCO2e, 27.17 million tCO2e, 49.66 million tCO2e, and 1.78 million tCO2e, respectively.
Under the current regulation, CCERs can offset compliance obligations under the national emission trading scheme (ETS), with a cap of 5%. Although CCERs issued before March 14, 2017, are still in circulation, they will no longer be eligible for compliance obligations starting in 2025.
The public consultation period for the project design document is 20 working days.
Reporting by Lujia Wang, lwang@opisnet.com
Editing by Chuan Ong, cong@opisnet.com
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