Posted 1/22/2024, 10:00:20 AM
China Relaunches Voluntary Carbon Market to Support 2060 Net Zero Goal
- China's voluntary carbon market, suspended since 2017, officially resumed trading to help China reach its emissions goals
- The revamped market allows any enterprise to purchase offsets, not just those in the compulsory emissions trading scheme
- The voluntary and compulsory schemes expected to unleash potential of carbon trading to support China's 2060 net zero goal
- Trading currently focused on forestry, solar, wind, mangrove projects; individuals may eventually sell credits
- More regulations expected on cross-border trading and connecting the voluntary market globally