Voluntary Greenhouse Gas Emission Reduction

　　China Economic Net, Beijing, October 23 (Reporter Wei Jinjin) In order to standardize the national greenhouse gas voluntary emission reduction trading and related activities, the Ministry of Ecology and Environment and the State Administration for Market Regulation recently jointly issued the "Greenhouse Gas Voluntary Emission Reduction Trading Management Measures (Trial)" (hereinafter referred to as the "Measures").

　　The measures stipulate that the Ministry of Ecology and Environment shall, in accordance with relevant national regulations, organize the establishment of a unified national greenhouse gas voluntary emission reduction registration agency and organize the construction of a national greenhouse gas voluntary emission reduction registration system. At the same time, it will organize the establishment of a unified national greenhouse gas voluntary emission reduction trading institution, organize the construction of a national greenhouse gas voluntary emission reduction trading system, and organize the formulation and release of technical specifications such as the methodology of greenhouse gas voluntary emission reduction projects (hereinafter referred to as the project methodology), which will serve as the basis for the approval, implementation, emission reduction accounting and verification of voluntary emission reduction projects in relevant fields. The project methodology should be revised in a timely manner according to factors such as economic and social development, industrial structure adjustment, industry development stage, and climate change policies, and be incorporated into the national standard system when conditions are ripe.

　　According to the requirements of the Measures, the voluntary greenhouse gas emission reduction project applying for registration shall meet the following conditions: (1) it must be authentic, unique and additional, (2) it belongs to the project methodology support field issued by the Ministry of Ecology and Environment, (3) it will start construction after November 8, 2012, and (4) it will meet other conditions stipulated by the Ministry of Ecology and Environment. Projects that are subject to greenhouse gas emission reduction obligations as stipulated by laws, regulations, and national policies, or that are subject to quota management in the national and local carbon emission trading markets shall not apply for registration as voluntary greenhouse gas emission reduction projects。

　　The measures propose that the trading products of the national greenhouse gas voluntary emission reduction trading market are certified voluntary emission reductions. The Ministry of Ecology and Environment may add other trading products in a timely manner in accordance with relevant national regulations. Voluntary emission reduction trading may take the form of listing agreements, block agreements, one-way auctions and other compliant trading methods.

　　The measures are clear, and the competent department of ecology and environment and the market supervision department shall establish a working mechanism for information sharing and coordination. The competent department of ecology and environment shall promptly hand over clues on issues in the review and verification activities discovered in the course of supervision and inspection to the market regulation department. The competent departments of ecology and environment, market supervision departments, registration institutions, trading institutions, verification and verification institutions and their relevant staff shall be loyal to their duties, act in accordance with the law, be fair and honest, and shall not take advantage of their positions to seek improper benefits, and shall not participate in the trading of certified voluntary emission reductions and other activities that may affect the fairness of verification and verification. The validation and verification agency shall not accept any funding that may have an impact on the objectivity and fairness of the verification and verification activities, shall not engage in development, marketing, consulting and other activities that may have an impact on the objectivity and fairness of the verification and verification activities, shall not have an interest relationship with the entrusted project owner in terms of assets and management, and shall not prepare project design documents and emission reduction accounting reports for the project owner. Trading entities shall not manipulate or disrupt the national voluntary greenhouse gas emission reduction trading market through fraud, collusion, dissemination of false information, etc.