Recently, registration for the first batch of China Certified Emission Reductions (CCERs) has been completed in National Voluntary Greenhouse Gas Emission Reduction Trading Market. This marks a significant milestone in the construction of Chinese voluntary carbon market, which is of great importance for encouraging and stimulating the broader participation from enterprises across various industries in green and low-carbon development.

The registered CCERs originate from offshore grid-connected wind power generation and grid-connected solar power generation projects in Jiangsu, Gansu and other regions. Such registered CCERs total 9.48 million tons of carbon dioxide equivalent. The annual average greenhouse gas emission reduction will reach approximately 3.59 million tons of carbon dioxide equivalent over the next decade.

The registration for the first batch of CCERs brings new opportunities for the development of the national unified carbon market. On one hand, this offers diversified fulfillment options for emission control enterprises, effectively cuts compliance costs of these enterprises, and paves the way for realizing policy objective of cost-effective carbon reduction in carbon market. On the other hand, this fully gives full play to the incentives of market mechanism, provides additional fund support to projects with distinct emission reduction mechanisms, satisfying carbon reduction effects and high emission reduction costs, accelerates green and low-carbon transition, develops new-quality productive forces at a faster pace, and vigorously contributes to realizing carbon peaking and carbon neutrality goals.