BEIJING: China inaugurated its domestic exchange for the trading of voluntary greenhouse gas (GHG) emission reductions on Monday, taking place in the capital city of Beijing.
The primary objective behind this initiative is to facilitate China in reaching its carbon emission peak by 2030 and ultimately attaining carbon neutrality by 2060, as reported by CCTV.
The China Certified Emission Reduction (CCER) programme allows participants to earn tradable carbon credits by implementing projects that control and reduce GHG emissions from human activities. The revived CCER market complements China’s mandatory emissions trading scheme, the world’s largest carbon market.
China’s National Center for Climate Change Strategy and International Cooperation has released guidelines defining the eligible GHG emissions, including carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), and industrial fluorinated gases. CO2 from fossil fuel combustion and methane from agriculture and livestock make up the largest shares.
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ource: Emirates News Agency
