The Situation And Development Strategy Study Of Chinese Carbon Emissions Offset Mechanisms

To meet the development of the low-carbon economy, China’s carbon finance market is now growing rapidly. To promote the development of the carbon market,voluntary emissions trading has also made great progress. As the most important low-cost compliance complementary tool,domestic certified VERs(CCER) will also enter the carbon trading markets.During the development of certified VERs(CCER development project), carbon emissions offset mechanisms is of paramount importance, China has issued "Voluntary Greenhouse Gas Emissions Trading Interim Measures", the exchanges also made specific provisions of CCER project trading and offsetting carbon emissions, especially for offsetting carbon emissions proportion, due to the shortly development of CCER market, carbon emissions offset mechanisms still need further improvement to make it play its due role.Based on the above, this article chose carbon emissions offset mechanisms for the study, and made a detailed analysis of the development status of China’s carbon emissions offset mechanisms. On the other hand, the compare with the Clean Development Mechanism was made to summarize the experience and inspiration for the development of the carbon emissions offset mechanisms.At present, validated certified carbon emission reductions that can be used include certified VERs,energy-saving projects carbon emission reductions,forestry carbon sequestration projects carbon emission reductions and so on, the most important one is certified VERs(CCER).Now CCER project concentrated on the use of new energy and renewable energy projects, such as the rapid development of wind power projects. The emerging biomass power generation project is also growing rapidly. In addition, methane recovery and utilization projects in rural areas also appeared in large numbers. But CCER project type is now single, more new projects yet to be developed.Since the CCER market history is very short,although the current framework ofthe the provisions has been made, the exchanges still takes different rules, the proportion of carbon emissions offset is different as the same. CCER trading reflected in the large volume of transactions and non-transparent transaction, the transaction price also varies from each other. We can see from the apparent price information,CCER transaction price and the price of the carbon quota trading still has a relatively large difference. CCER trading is in urgent need of standardization and transparency.On the other hand, compared with the international CDM, the development of China CCER trading and carbon emissions offset mechanisms still has many deficiencies. Offset project types need to be broadened, and the relevant laws and regulations also need to be improved.The concept of carbon emissions offset mechanisms was firstly be explained,and then the project type of emissions that can be used to make carbon emission offsets was introduced. Focusing on the voluntary emission reduction projects, the status development and transactions situation of CCER project were analysis in detail.Then from the comparison with Clean Development Mechanism, forward countermeasures and suggestions were summarized to improve carbon emissions offset mechanisms. In order to further improve the emissions of carbon offset development mechanism, we need to improve the rules, the transparency of transactions and information disclosure, the social awareness and enthusiasm of enterprises, and the market development.