September 25, 2018 – The Hebei Development and Reform Commission (DRC) announced in its “Puhui Certified Emissions Reduction Pilot Working Plan” that it will launch a voluntary offset market in five provincial cities by the end of 2018. The five cities are Shijiazhuang, Baoding, Cangzhou, Zhangjiakou and Chengde. The document further notes that the offset market is planned to encompass the entire province by 2020. According to the plan of the DRC, the credits generated in Hebei shall later become eligible for compliance purposes of companies in the province under the national ETS. The launch of the Hebei offset market comes after the suspension of the national offset mechanism in 2016 and of the regional Guangdong offset mechanism in August 2018.

Source: http://www.hbdrc.gov.cn/web/web/zhc_gzdt/4028818b65fb2cb301665cdaa2651541.htm

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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.