Environmental Engineering Reference
In-Depth Information
Table 7.2 Progress of CDM projects in China (2006-2013)
By By By By By By
31.12.06 20.11.07 06.07.08 11.09.09 20.09.11 01.05.13
Item
Number of projects approved by
NDRC
255
932
1,388
2,174
3,240
4,904
Number of projects registered at
EB
36
141
239
491
1,577
3,563
Number of issued projects
4
26
55
131
547
1,227
Data source: http://cdm.ccchina.gov.cn
buyers purchase VERs applicable for a certain standard and pass verification.
Because VER projects skip some examination and approval, they save costs and
time; increase the success rate and shorten the cycle of project development, which
gives them great flexibility.
At present, there are several standards in the VER market, including international
standards like VCS, the Gold Standard, VER+ and VOS. The most frequently used
standard is VCS. Major existing VER standards are shown in the following Table 7.4 :
At present, the VER market occupies a small proportion of China's carbon
market and accounts for few transactions. The three leading climate exchanges in
China have carried out a few VER projects of various types. They are mainly used
by enterprises purchasing carbon credits to meet the goal of corporate social
responsibility, or by institutions, NGOs or individuals purchasing carbon credits
to realize carbon neutrality for environmental protection. China's VER market is
still in its infancy, and building a real and mature market is still a distant goal.
7.3.3 Chinese Certified Emission Reduction (CCER)
In June 2012, NDRC issued the Interim Measures for the Administration of
Voluntary Greenhouse Gas Emission Reduction Transactions . The Measures can
guarantee the orderly implementation of CCER transactions, mobilize the enthusi-
asm of the whole society on voluntarily participating in carbon emission reduction
activities and accumulate experience for gradually establishing the carbon
emissions trading market with total amount control. In accordance with the rules
in the measures, the projects shall be registered in China and shall be verified and
issue for its emission reduction. At present, detailed rules and methodology have
been developed.
7.3.4 Pilot Emission Trading Scheme (Pilot ETS)
In October 2011, General Office of the National Development and Reform Com-
mission issued The Notice on Carrying out Carbon Trading Pilot , which approves
to carry out carbon trading pilots in seven provinces and cities. Each province and
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