03 December 2014 | Kun Yang
The National Development and Reform Commission announced that it will hold two meetings on China Certified Emission Reduction (CCER) at the beginning of December. Shortened intervals between CCER meetings suggest an accelerated process of CCER verification by the country.
The two meetings are the fifth CCER Executive Board (EB) meeting on the examination and approval of CCER projects on 5 December and the second CCER EB meeting for CCER issuance approval on 9 December.
According to the announcement, 57 CCER projects will be examined during the fifth CCER EB meeting for CCER project approval. Meanwhile, 18 CCER projects will apply for the issuance of their CCER credits during the second CCER EB meeting for CCER issuance approval, four of which were rejected during the first CCER EB meeting for CCER issuance approval.
Evidence suggested that the regulatory process of CCER project verification and approval was accelerated, which could be because China was preparing for sufficient volumes CCER credits to enter the market before the end of the year, a domestic CCER expert told ICIS on Tuesday.
Accelerated progress will also make preparation for the National Emission Trading Registration System to come online by the end of the year and the tryout of the national carbon market.
Some CCER practitioners argued that the market outlook was not bright for CCER, due to various carbon emission offset regulations in the pilot emission trading schemes in China. Therefore, the market will benefit if the country announces explicit regulations on carbon emission offset as soon as possible.
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