The CCER market, or the China Certified Emission Reduction Scheme, is a voluntary carbon credits plan that allows companies to offset their emissions by purchasing credits from renewable energy projects or forestry activities. The CCER market was suspended in 2017 due to low trading volume and lack of standardization, but it was relaunched on Jan 22, 2024, as a supplementary mechanism to the national Emissions Trading Scheme (ETS), China’s new carbon trading market.
On its first trading day, 375,315 tons of CCER credits were traded for a total of CN¥23.8 million yuan. The average price of each CCER credit was CN¥63.5 yuan per tonne, whereas CEA (emission allowance for the Chinese ETS market) is trading at a closing price of CN¥70.67 yuan per tonne on the same day (Jan 22, 2024).
China’s National Carbon Market - CEA Price trends for the past year:
Source: from GC Insights Monthly Global ESG Regulation Watch (access to real-time data is available through subscription)
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The CCER project registration process at a glance:
Read more about the Four Approved CCER Methodologies and regulatory frameworks here: https://www.gc-insights.com/report/ccer-administrative-regulations-effective-now