BEIJING: China is on track to relaunch a suspended program that could help boost the country’s efforts to deal with the challenges posed by climate change, officials and experts said.
The China Certified Emission Reduction program, a voluntary program in which participants can trade carbon credits, was suspended five years ago.
As an important supplementary mechanism to the nation’s carbon trading market, which was launched last year and is so far the world’s largest, the CCER is expected to help further cut carbon reduction costs and spur the development of renewable energy resources.
Amid anticipation of its relaunch, however, the quality of carbon credits generated from the program remains a top concern. Experts are suggesting a series of measures to ensure the quality of the credits so that the program can effectively fulfill its role.
Under the CCER program, companies can voluntarily earn carbon credits by taking action to reduce carbon emissions, such as by promoting renewable energy generation and afforestation.
In a recent interview with China Environment News, Li Gao, director of climate change at the Ministry of Ecology and Environment, said that the ministry will endeavor to further improve the CCER trading mechanism.
–The Daily Mail-China Daily news exchange item
