China Moves to Relaunch National Carbon Market, Outlining Rules for Voluntary Emissions Trading
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China published draft guidelines and regulations for restarting its voluntary carbon market, the CCER scheme, suggesting a relaunch is near.
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The guidelines cover registration procedures and standards for voluntary carbon offset projects across 16 industries.
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The CCER market allows companies in the national ETS to offset emissions by purchasing credits. It was suspended in 2017 due to low trading volume.
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China recently released methane reduction plans and renewed climate cooperation with the US ahead of COP28.
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Experts say nature-based projects and state-owned firms may benefit most from the CCER reboot. Contracts could help solve liquidity issues.