August 30, 2018 – The Guangdong Provincial Development and Reform Commission announced that until further notice it will not approve any applications for more credit issuances in its provincial offset mechanism called Pu Hui Certified Emission Reduction (PHCER). The Guangdong government aims to evaluate the current mechanism before the authorities restart to approve further applications. The announcement did not indicate what shape or form of the advancement is ought to have and at what point the mechanism continues to operate.

As the central government paused the national offset mechanism China Certified Carbon Emission Reduction (CCER) in 2016, the Guangdong offset mechanism was much appreciated among emitters as offsets in the largest pilot emissions trading systems of China. Of the overall 399 million allocations per annum, Guangdong’s emitters are permitted to use carbon credits of both kinds amounting to 1.5 million.

Source: http://www.gddrc.gov.cn/zwgk/ywtz/201808/t20180830_478077.shtml

Share this article

Sino-German Project on Capacity Building for the Establishment of ETS in China

Project country
China
Political Partners
German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU); Ministry of Ecology and Environment of the People's Republic of China (MEE)
Implementation Partners
National Center for Climate Change Strategy and International Cooperation of the People's Republic of China (NCSC)
Duration
07/2012 - 03/2020

The Chinese government has set itself the goal of reaching the peak of CO2 emissions by around 2030 and reducing CO2 emissions per unit of GDP by 60 to 65% compared to 2005 levels. To achieve these targets, China is gradually establishing a national Emission Trading System (ETS) as one of the key building blocks of its mitigation strategy. Since the start of the project in 2012, the Sino-German project “Capacity Building for the Establishment of Emissions Trading Schemes (ETS) in China” has been supporting the Chinese government in this endeavour through knowledge transfer and strengthening of the political leverage of key institutions and stakeholders required to develop and operate an ETS. Initially, the project supported the development of the regional pilots ETS. Since 2016, the focus lies on support for the roll out of the national ETS. The project is jointly implemented by GIZ and the Ministry of Ecology and Environment (MEE) of the People’s Republic of China. It is executed on behalf of the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) within the framework of the International Climate Initiative (IKI) that is financing climate and biodiversity projects in developing and newly industrialising countries, as well as in countries in transition.