Reconstruct a new pattern of voluntary emission reduction market in my country.

"Environmental Economy" magazine Huang Yu

In April 2022, the Central Committee of the Communist Party of China and the State Council issued the "Opinions on Accelerating the Construction of the National Unified Unified Market" and stated that "accelerate the establishment of a national unified market system rules, break local protection and market segmentation, open a key point of restricting economic cycle, speed up, speed up Building high -efficiency and standardized, fair competition, and fully open national unified markets ", and put forward new requirements for the construction of a national unified carbon emission right market. The carbon market system includes two major mechanisms for compulsory quota transactions and voluntary emission reduction transactions. The two mechanisms in my country have almost started simultaneously.

On July 16 last year, the national carbon emission right trading market (hereinafter referred to as the national carbon market) was officially launched. At present, the voluntary emission reduction market is in the adjustment and starting stage. High -quality voluntary emission reduction markets with uniform standards, high transparency, and strong liquidity, promote the interconnection of the international and domestic voluntary emission reduction markets, promote the integration of the internal and external market systems, and use the national unified voluntary emission reduction market as the core, guide international and domestic capital and high -end capital and high -end Technology accelerates to the domestic green low -carbon field, and better serve the national "double carbon" goal.

The importance of developing a voluntary emission reduction market

It is an important channel for achieving carbon neutrality

The goal of "carbon neutrality" in my country is a wide and profound change, and it is also a long -term task. It must be firm and scientific and orderly. As an important part of the carbon market, the voluntary emission reduction market is an important tool for using market -oriented means to promote low -cost in the whole society to achieve carbon emission reduction. Through voluntary emission reduction market mechanisms, provide market incentive mechanisms for carbon emission reduction, form an effective carbon emission reduction price signal, guide enterprises to carry out energy conservation and emission reduction projects, encourage the development of carbon emission reduction projects, drive more capital into the green low -carbon field, promote my country's green low -carbon transformation and technological innovation have promoted the sustainable development of environmental governance.

At the same time, with the determination of my country's "carbon neutral" goals, more and more companies are aware of the importance of carbon neutrality and layout, actively make a promise of net zero emissions, and developing a voluntary emission reduction market can also provide more diversified enterprises to enterprises. The "carbon neutral" target can be achieved.

It is an important bridge to promote carbon transactions between the country

Volunteer emission reduction markets occupy an important position globally in response to climate change. According to the World Bank's "Development Status and Future Trends of the Development and Future of Carbon Price Mechanism -2022", at present, 26 global carbon credit mechanisms are bridges for the cross-border carbon market linkage. The 26th United Nations Climate Change Conference (COP26) reached a preliminary consensus on the issue of international transfer of the international carbon market and emission reduction results in Article 6 of the Paris Agreement, that is, the parties can voluntarily meet the needs of their country's independent contribution (NDC). Select the relevant mechanism to achieve cross -border transfer of carbon emission reduction indicators.

The International Aviation Carbon Devitice and Edaper Reduction (Corsia) approves that my country can use a national certification to verify the voluntary reduction (CCER) mechanism to offset, marking that my country's carbon credit standards are officially accepted internationally. At the same time, the voluntary emission reduction market is also a potential way to respond to climate change cooperation with the “Belt and Road”, which is conducive to promoting the “going global” of my country's capital and green low -carbon industry, and driving the “Belt and Road” region to achieve green low -carbon transformation and development.

Therefore, under the global pattern of climate change, voluntary emission reduction markets will become the link between international funds and low -carbon technology, and my country's capital and low -carbon technology. Entering a new stage and a new pattern.

It is conducive to promoting the whole people to practice green and low -carbon operations

The "Opinions on Complete and accurately implement the concept of new development in a complete and accurate and comprehensively implementing the new development concept for carbon and carbon neutrality" issued by the Central Committee of the Communist Party of China and the State Council, and the "Implementation Plan for Devinting Carbon Coordination and Efficiency" jointly issued by the Ministry of Ecology and Environment, including the Ministry of Ecology and Environment The top -level policy documents such as "Implementation Plan") have clearly proposed "accelerating the formation of green production and lifestyle."

The "Implementation Plan" proposes to explore the establishment of public participation mechanisms such as "carbon and benefits"; the key division of labor in the "2022 State Council Government Work Report" also clearly proposes "accelerating the formation of green and low -carbon production lifestyle."

Through the establishment of a voluntary emission reduction market, it can not only cultivate the awareness of green and low -carbon life of the whole population, promote the low -carbon action of the whole society, improve the value realization mechanism of ecological product value, and gradually form a green low -carbon production life and consumption method in the whole society; it can also create the whole whole time Social energy conservation and carbon reduction, resource saving atmosphere also provide channels for the participation of the people to participate in climate change. At the same time, it can also guide enterprises to consciously fulfill social responsibility, integrate green low -carbon concepts into corporate culture, and accelerate the development of green and low -carbon transformation and development of enterprises.

Development voluntary emission reduction will enhance the green competitiveness of my country's export companies

Today, green development is a global consensus, and green products will become a new hot spot in the international and domestic market. Although my country's export enterprises ushered in new development opportunities in the new development pattern of "dual cycles", at the same time, they also face the urgent needs of domestic green transformation and the severe challenges of the "green barriers" of the international market.

my country's exporting enterprises need to vigorously develop renewable energy, accelerate green technology development, and promote green low -carbon transformation to increase green products to export products. Product carbon content. Multiple measures to create a net zero emissions of the entire industry chain will become the inevitable requirements for improving the green competitiveness of the international market and responding to the "green barriers" of international economic and trade.

The adjustment period and starting phase of my country's CCER trading market and the carbon -Puchai trading market are an important part of my country's carbon market and an important supplementary mechanism for the mandatory quota market. my country's voluntary emission reduction market can be divided into the CCER trading market and the carbon -based product trading market. The two jointly constitute a voluntary emission reduction trading market system in my country. Methods to drive the whole society and the whole people to play a promotion role.

At present, the adjustment period and starting phase of the CCER trading market and the carbon -Puchai trading market office, the national carbon trading authority is considering restarting the CCER mechanism. Governments in various regional governments are also promoting and developing the carbon -benefit system. The establishment of a voluntary emission reduction market system has driven more funds to invest in the field of energy conservation and emission reduction, and help the country and enterprises "carbon neutral" goals.

Strictly speaking, my country's voluntary emission reduction market has gone through the development process of nearly 10 years since 2012. It has initially formed a project review, emission reduction certification, CCER registration management, transaction management and cancellation management. A set of CCER mechanism system. CCER's design ideas are derived from the clean development mechanism (CDM). Formally launch the CCER project registration process; in 2015, the voluntary emission reduction transaction information platform was launched, marking the CCER entering the transaction stage; due to the reform of the CCER mechanism, in March 2017, the National Development and Reform Commission issued the "Suspension of Gas Gas Volunteer Email Reduction Reduction reduction emission reduction. "Announcement of the Application of Transaction File" suspended the CCER project filing application application and issuance mechanism. The stock CCER continued to trade in the local carbon market and played an important role in the national and local carbon market quota performance.

According to statistics from the National Climate Strategy Center, a total of 1,315 voluntary emission reduction projects were announced, 391 projects were issued, and the total amount of CCER issued about 76 million tons. The total cancellation of the nation and local carbon market was about 60 million tons. The cancellation of a performance cycle is about 34 million tons. As of the end of June 2022, CCER in 9 local carbon trading agencies cumulatively transaction volume of 445 million tons, with a turnover of nearly 6 billion yuan.

The carbon -based system is an important part of my country's voluntary emission reduction market and an effective supplement to the CCER mechanism. At present, more and more local governments are actively operating or promoting the carbon -to -benefit mechanism to promote low -carbon operations in the whole society and guide green low -carbon production and life and consumption methods. In addition, forestry carbon tickets were launched in Sanming City, Fujian Province, Bijie City, Guizhou Province, and Xianyang City, Shaanxi Province. Xiamen City, Fujian Province launched agricultural carbon tickets to encourage the purchase of carbon in the district and institutions and individuals or organized by individuals or organized by the people or organized by the individual The method of votes to offset carbon emissions and achieve carbon neutrality; the "Shandong Province High Energy and High -Eunction Construction Project Carbon Emissions Reduction Equipment Exception Method (Implementation)" announced by Shandong Province can reduce carbon emissions through other channels.

The international voluntary emission reduction market is booming

According to the World Bank's "Development Situation and Future Trend of the Development of Carbon Price Mechanism -2022", according to carbon credit generation methods and mechanism management methods, international carbon credit mechanisms can be divided into three categories: first, international carbon credit mechanism, mainly "Kyoto Protocol" The CDM proposed; according to the statistics of the UN Environmental Planning Agency, as of the end of March 2021, there were 8,415 CDM project data, of which nearly 95%of the registered filing projects from 2004 to 2012.

Second, the independent carbon credit mechanism, there are private and independent third -party organizations (usually non -governmental organizations) management, mainly include certification of carbon emission reduction standards (VCS), gold standard (GS), American carbon registration (ACR), climate climate, climate Action Reserve (CAR), etc., VCS is currently the world's largest independent carbon credit mechanism.

Third, the regional, state and local carbon credit mechanisms are under the jurisdiction of legislature in their respective jurisdictions, which are usually managed by regions, countries, or local governments. So far, there are 20 regions, national and local carbon credit mechanisms in the world, such as CCER, such as CCER, and The Australian Restaurant Reduction Fund (AERF), California Compliance Development Plan (COP), etc. (COP).

The international voluntary emission reduction market is developing vigorously. According to Ecosystem Marketplace statistics, in 2021, the international voluntary emission reduction market transaction volume exceeded $ 1.4 billion, of which independent carbon credit transactions exceeded $ 1 billion. The World Bank's "Development Status and Future Trends of the Development and Future of Carbon Price Mechanism -2022" shows that 1208 international carbon emission reduction projects were registered in 2021, and the newly issued carbon credit issuance was 478 million tons, an increase of 48%year-on-year; The largest year -on -year growth of carbon credit distribution has been increased, and the international voluntary emission reduction market has been about 4.7 billion tons since 2007. Among them, the amount of independent carbon credit distribution was 352 million, an increase of 88%year -on -year, accounting for 74%of the total distribution; the carbon credit issuance under the CDM mechanism was 59 million tons, an increase of 25%year -on -year, accounting for 11%of the total distribution. There are no new registration items; regions, national and local carbon credit distribution volume is 66 million tons, accounting for 15%of the total circulation, mainly California compliance discounting plan (CCOP) and Australian emission reduction funds (AERF). From the perspective of project types, the international voluntary emission reduction market projects are mainly concentrated in forests, land use, renewable energy and energy efficiency; from the perspective of the project distribution area, it is mainly concentrated in Asia (56%), Latin America and the Caribbean (22 (22) %), Africa (15%) and other places. From the perspective of stock projects, international carbon credit mechanisms still dominate; from the perspective of the development trend of incremental projects, independent carbon credit mechanisms, regions, countries, and local carbon credit systems are replacing international carbon credit mechanisms to become mainstream.

Climate change is a challenge facing the world. Under the promotion of the Paris Agreement, more than 130 countries have proposed carbon neutrality, thousands of companies make net zero -carbon emissions commitments, and plans to use carbon offset to perform their promises. In view of the net zero commitment enterprises, it will become increasingly increasing The more, the size of the international voluntary emission reduction market will become larger and larger. The carbon deduction commitment of enterprises is an important thrust in the rapid growth of the international voluntary emission reduction market. According to Ecosystem Marketplace statistics, industries with large carbon credit demand in 2021 are mainly concentrated in the energy, consumer goods and finance/insurance industries, especially the energy field. Credit needs. According to the analysis of research institutions, the global demand for carbon credit by 2030 may reach 1.5 billion to 2 billion tons of carbon dioxide. By 2050, the annual demand may reach 7 billion tons to 13 billion tons of carbon dioxide.

Although the international voluntary emission reduction market has developed rapidly, basically the exterior transactions, the liquidity and transparency are not high, the development standards and prices are very different, and the various standards are independent and disagreed with each other, and the quality needs to be tested. In this case, the birth of new organizations and standardized products has been promoted, such as expanding the voluntary carbon reduction market special working group (TSVCM), which is sponsored and supported by the International Financial Association. It was established in September 2020. In the establishment of a unified, high transparency, high -liquidity voluntary emission reduction market, the voluntary emission reduction market has a large -scale and standardized transaction in the world; XPANSIV is committed to providing more standardized, transparent and secure market platforms for carbon emission reduction products ; The European Energy Exchange (EEX) is committed to providing a more standardized, higher transparency and safer market for voluntary emission reduction markets. In June this year, the voluntary emission reduction market products listed on the NODAL cross -time zone in North America will be in the second half of the year. In the second half of the year, it will be in the second half of the year. Listing in Europe to meet the increasing demand for carbon offset or neutralized carbon footprints in enterprises.

There are many problems in my country's voluntary emission reduction market

The CCER mechanism has problems such as overdue standards and the system is not suitable for development

The CCER mechanism began in March 2012 and was suspended in March 2017, and it operated for a total of five years.

There are many problems in the actual operation of the CCER mechanism: First, the connection mechanism with other emission reduction tools needs to be improved, and the same carbon emission reduction projects have multiple policies (green power, green certificate, carbon quota, CCER, etc.); In the CCER filing method, 173 are transformed from CDM methodology. The CCER project development process has largely followed the framework and ideas of the CDM project. Because CCER is the additional nature of the project, and the calculation of the emission reduction relative to the original base, many reference lines are based on assumptions; fourth is that the CCER generated by the same project generated by the same project is also large because of the different performance conditions of the local carbon market.

There are inconsistent carbon -Puchang standards in various places, market segmentation, and limited emission reduction functions

The compulsory quota market is mainly aimed at high -scale enterprises above designated size or key industries with concentrated emissions. CCER -based projects based on projects are not in the voluntary emission reduction activity in the calculation border of enterprises. "Everyone is low -carbon, enjoying inclusiveness" is the core concept of carbon and benefit.

Under the goal of "double carbon", various places have explored the "carbon -to -benefit" mechanism, but the current launch of the carbon and benefit mechanism has a series of problems such as poor standards, market segmentation, unblocked channels, and limited emission reduction functions. It needs to be constructed. Copy, promoted, and sustainable carbon -based models can move from various regions to the country, and gradually become an important supplement to voluntary emission reduction markets. Carbon emission reduction related environmental market mechanisms are seriously divided, and non -controlled enterprises voluntarily reduce emission reduction transactions.

The carbon emission reduction mechanism such as CCER, Green Certificate and Green Electricity is essentially a market -oriented policy mechanism that cope with climate change and implement the "dual carbon" goal. There is no conflict at the implementation level, but the current policy is serious, the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market and the power market. The carbon market is relatively independent. The top -level mechanism, management operation, and trading rules formed are exactly the same, and the linkage effect is not formed. There are also repeated calculation phenomena.

The carbon market policy system is mainly aimed at the discharge enterprises and medium and large -scale carbon emission reduction projects. The market entity participating in voluntary emission reduction markets is to achieve low -cost performance or revenue through carbon emission reduction through transactions. Corporate image, actively purchase carbon reduction displacement to offset its own carbon emissions, but the participation is relatively low, and it is not standardized and large -scale.

Market service capabilities need to be improved, and the construction system of trading platforms is insufficient

The voluntary emission reduction market involves the consultation and development of carbon emission reduction projects, third -party certificates, carbon transactions, and cancellation. my country's voluntary emission reduction market is still in its infancy, and talents are very lacking and weak service agencies. At the same time, there is also a lack of professional institutions to help various participating subjects analyzing, evaluating, and avoiding the risk of carbon emission reduction projects and carbon transactions; the local carbon market quota transaction system is self -contained, and the national carbon market is another independent market system.

At present, except for CCER in the carbon market in nine places, carbon -mounted and carbon -based varieties cannot be traded across the market across regions, and international carbon credit cannot be traded on the voluntary reduction market in my country. Transactions on the emission reduction market.

Multiple measures to promote the development of the voluntary emission reduction market in China

Accelerate the improvement of the CCER mechanism and promote the establishment of high -quality, high standards, high efficiency, high -efficiency, high -transparent CCER market

The CCER mechanism is an important supplement to the country and local carbon markets, and it is also the bridge of Unicom's international carbon market. The CCER mechanism played a positive effect during the performance of the local carbon market and the national carbon market quota, which not only reduced the performance cost of the exclusive enterprise. The development of low -carbon industries such as forestry carbon exchange and methane uses the unity of environmental benefits and economic benefits, and has made positive contributions to promoting low -cost emission reduction goals in the whole society and promoting green low -carbon transformation and development.

Therefore, it is necessary to accelerate the improvement of mechanism systems and technical specifications including CCER management measures, methodology systems, project review and emission reduction certificates, and third -party service systems, and establish an infrastructure system based on blockchain and big data support In order to promote the establishment of high -quality CCER projects, high -standard CCER development and highly transparent, and high -efficiency CCER market construction, we can better support my country's "dual carbon" goals and the realization of enterprise "net zero emissions" goals.

Encourage the development of the carbon and benefit system and promote the establishment of a multi -level voluntary emission reduction market

Relative to the CCER mechanism, the carbon -Puchai system is quantified and recorded on the emission reduction behavior of small and micro enterprises and the public, and realized the value of consumer channels such as monetization, policy support, and commercial incentives.

The carbon -woven system is an important way for small and micro enterprises and the public to participate in carbon emission reduction. It is an important way to promote low -carbon actions in the whole society, promote the low -carbon awareness of the whole people, and guide green low -carbon production and life and consumption methods. It is recommended that the long -term mechanism of carbon -Puchai is included in the top -level design of the national, and the green low -carbon national action is used as one of the important measures for my country's "dual carbon" goals; Unified and mutually recognized, coordinated with the CCER market and complement each other, and finally formed a high -quality, multi -level voluntary voluntary voluntary emission reduction trading market system with the national carbon market.

It is necessary to give full play to the government's initiative and coordinate the relationship with the energy market and ecological environment market

The government plays a pivotal role in the establishment and development of voluntary emission reduction mechanisms. It should take the initiative to take the initiative to build a system, supervise and guidance, and build a complete policy and regulations and build a solid technical standards to ensure that carbon credit is credible. And ensure the effectiveness and fairness of carbon credit and its transactions; at the same time, to ensure the stability of relevant policies and regulations, give full play to the guidance of carbon and emission reduction projects, and avoid voluntary emission reduction trading markets. Fluctuations are not conducive to guiding funds and technology to the field of green and low -carbon development.

At the same time, the government should also coordinate the relationship between voluntary emission reduction transactions and coercive carbon quota markets, energy use trading markets, energy -saving trading markets, green certificate trading market, green power trading market and other policy tools to prevent repeated policy tools. In order to coordinate and communicate with the energy department when formulating relevant policies, we can use the voluntary emission reduction market to achieve my country's "dual carbon" and corporate carbon neutrality.

Encourage the development of carbon credit based on natural solutions, gradually expand the coverage of voluntary emission reduction markets, and create a demand for voluntary emission reduction market

The carbon market is an important policy tool for achieving the goal of "dual carbon" in my country. Volunteer emission reduction markets are an effective entry point for helping the "double carbon" goal. It is necessary to build a voluntary emission reduction market, continuously expand coverage of regions and fields, and innovate the use of market demand. The first is to combine the voluntary emission reduction policy with the "double carbon" goal. In addition to supporting the performance of the carbon market quota, it encourages carbon credit development and investment based on natural solutions.

The second is to strengthen my country's voluntary emission reduction market with the green financial market and the climate investment market, create a carbon financial demand, and give full play to the function of optimizing the allocation of carbon reduction resources in the capital market.

The third is to strengthen the connection between my country's voluntary emission reduction market and the international voluntary emission reduction market, expand the needs of the international carbon market, explore the global voluntary emission reduction mechanism under the Paris Agreement, as well as the international civil aviation organization and the international navigation organization (IMO). Reduction market mechanism integration.

In addition, we should further tap the public welfare attributes of the voluntary emission reduction market in my country, and encourage state agencies, enterprise institutions, social groups, and the public to neutralize carbon credit by purchasing carbon credit.

Promote the construction of a high standard system in China multi -angle, and actively connect with the mainstream standards of international voluntary emission reduction.

Study the international voluntary emission reduction market standards, rules and development paths, actively docking with international voluntary emission reduction standards, improve the CCER project development, audit, carbon reduction and displacement accounting, certification, etc.; The unified standard system that is widely recognized by emission reduction scenarios has gradually promoted and applied nationwide; accelerated the promotion of domestic voluntary emission reduction standards with international docking, and gradually forming an international and domestic recognition market standard system.

Promote the establishment of a unified docking system for voluntary emission reduction market access, transactions, and supervision that integrates with international scenarios; accelerate the development of high -quality carbon and emission reduction projects that meet the needs of international and domestic voluntary emission reduction markets, and promote the realization of its market -oriented ecological value; At the same time, it promotes my country's voluntary emission reduction standards to "go global", enhance the international influence and contribution value of the "Chinese standard", and vigorously promote my country's carbon credit to "go out" and guide more international capital to flow to the domestic green low carbon field.

Guide enterprises to voluntarily reduce emission reduction needs, and promote domestic voluntary emission reduction trading platforms to connect with international docking

Under the guidance of the Paris Agreement, many multinational companies in the world have clearly stated that they plan to use carbon emissions to offset some emissions to achieve carbon neutralization or net zero emissions targets; only a few heads in China have proposed the goal of "net zero emissions".

Therefore, it is necessary to promote government departments to offset carbon into the "dual control" and green performance assessment mechanism, encourage enterprises to actively participate in carbon emission reduction operations, and further stimulate enterprises to voluntarily reduce emission reduction needs, in order to gradually form a benign ecosystem for collaborative development of supply and demand. At the same time, actively guide the trading platform with international voluntary market reduction market and mainstream voluntary emission reduction development standards for issuance systems; development meets the standardized carbon credit spot and derivative system that meets the standardization of different market demand, improve transaction efficiency, promote the reasonable formation of carbon credit prices; promote the domestic domestic market; promote the domestic domestic price; Carbon credit is widely used in the international voluntary emission reduction market. International carbon credit can circulate in China, open up regional and international barriers, and gradually form a standardized, systematic, standardized, efficient, and international voluntary emission reduction trading platform.

Establish and improve the information disclosure system for the domestic voluntary emission reduction market

my country can fully learn from the international voluntary emission reduction market and the international and domestic capital market project information disclosure system, transaction information disclosure system, climate information disclosure system, biological diversity information disclosure system, etc. The information disclosure platform of voluntary emission reduction markets is linked to the national emission license management information platform and financial information disclosure platform to provide reference for the investment and financing and carbon financial innovation of carbon emission reduction projects.

In addition, in addition to the voluntary emission reduction information disclosed by compulsory required, voluntary emission reduction management and trading platforms should actively, timely, accurate, and complete regular release of carbon emission reduction project records, emission reduction issuance, and transaction information to improve market transparency. Promote the formation of reasonable carbon prices. At the same time, docking with the national credit reporting system, establishing a joint credit punishment mechanism, and strengthening publicity and public opinion supervision.

(Author unit: Shanghai Energy Environment Exchange)

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