- The China Certified Emission Reduction CCER scheme is considered an important part of the country’s environmental goals
- It was suspended six years ago because of low trading volume and a lack of standardisation in carbon audits
China has moved a step closer to rebooting its suspended voluntary carbon market, the China Certified Emission Reduction (CCER) scheme, a part of its plans to develop a more comprehensive market mechanism to support the country’s greenhouse gas emissions goals.
China Beijing Green Exchange, which oversees the scheme, announced on Saturday that it has finished developing the registration and trading systems for CCER, and that these are ready for inspection before operations resume. These, it said, are “important infrastructure for building the voluntary carbon market.”
First launched in 2012, the CCER scheme was suspended in March 2017 by the National Development and Reform Commission (NDRC), China’s central economic planner, because of low trading volume and a lack of standardisation in carbon audits. Applications for new CCER projects have been suspended ever since, but transactions, deliveries, and the decommissioning of existing CCERs were unaffected.