On 30 March 2023, Ministry of Ecology and Environment (MEE) called for the public proposals for the CCER project methodology. For building integrated national voluntary carbon reduction market and meeting the new needs of achieving dual carbon target, the previous methodologies need to be updated. The MEE requested:
- Submissions made by project owners equipped with the technical conditions of methodology compilation. Sector associations and academies, colleges and others could submit methodology proposals.
- Submissions could be revised versions of the existing methodology or a new methodology but should exclude sectors already regulated and mandated for GHG emissions reduction.
- Submissions should follow the provided outline, be submitted to MEE via email by 30 April 2023. The estimated progress of the CCER relaunch will be earliest at the end of 2023.
- Considering the dual carbon targets, the methodologies will be evaluated and selected by batches, gradually to update and replace the previous methodologies.
On 4 February, the development of a unified national registration system and trading system was completed for the establishment of the national CCER trading centre. Such development provides important infrastructure guarantees for the construction of a voluntary emission reduction market. The registration system has been able to carry out the entire business functions such as registration, the issuance of emission reduction projects, and emission reduction volumes. As for the trading system, it has core business functions such as transaction entity management, transaction organisation, delivery and settlement, and risk control supervision. The two systems have met the requirements set by the competent authorities.