Carbon offsets offer rewards

Updated: 2013-07-29 07:17

(China Daily)

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Shenzhen is planning to allow more than 3 million tons of Chinese Certified Emission Reductions, also known as carbon offsets, a year to enter its carbon trading market in the period 2013 to 2015. The number of CCERs the city will receive from all over China will account for about 10 percent of its total carbon credits, said Ge Xing'an, vice-president of the China Emissions Exchange.

The CCER-based projects the city will consider fall into four categories: carbon sequestration through reforestation; projects in nature reserves that make a significant contribution to ecological protection; projects that optimize the energy structure, such as renewable energy programs in poor, outlying areas the city has a responsibility to help; and projects developed by local enterprises.

Purchase of CCERs is not restricted to the 635 enterprises participating in the city's carbon-emissions management program. The businesses can purchase a certain number of CCERs - as much as 10 percent of their carbon credits - to offset their emissions at a lower price. Individuals and organizations are also allowed to purchase CCERs for investment purposes.

- Jiang Xueqing

(China Daily USA 07/29/2013 page7)