250,000 tons! The first transaction of voluntary greenhouse gas emission reduction in China was reached
On January 22, China's first voluntary greenhouse gas emission reduction transaction was reached, and the launch of the trading market marks the increasingly perfect construction of China's carbon market, and the diversified carbon market system will further enhance the level of green and low-carbon development in the country.
The 250,000 tonnes of CNOOC purchased will be used to offset greenhouse gas emissions in energy production, and 1 tonne of CNOOC can offset 1 tonne of carbon dioxide emissions. The Voluntary Greenhouse Gas Emission Reduction Mechanism is a carbon offset mechanism that allows companies to purchase certified amounts from companies that carry out "carbon offsetting" activities to offset their own carbon emissions.
China's carbon trading is mainly divided into two parts, one is carbon emission trading, the state will set emission caps for some key carbon emission units or enterprises, if the enterprise exceeds this upper limit, it is necessary to purchase the corresponding allowance to offset the excess carbon emissions. The voluntary emission reduction trading market is an institutional innovation that mobilizes the whole society to participate in greenhouse gas emission reduction actions, which is conducive to promoting the formation of a national carbon market system in which the mandatory carbon market and the voluntary carbon market are complementary and interconnected. Promoting the construction of a voluntary emission reduction trading market is conducive to supporting the development of forestry carbon sinks, renewable energy, methane emission reduction, energy conservation and efficiency improvement, and encouraging a wider range of industries and enterprises to participate in greenhouse gas emission reduction actions.
According to the forecast of the Beijing Green Exchange, if you compare the scale of the EU carbon market, after the financialization of China's carbon market in the future, it is expected that the annual trading volume may exceed 10 billion tons and the transaction volume is expected to exceed 1 trillion yuan. (Source: CCTV News Client)
