carbon news of the week: the first batch of ccers announced online, signal express (carbon report no. 113)
2024-09-06
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one,dual carbon news
a. policy express
1. national standard "quantitative requirements and guidelines for carbon footprint of greenhouse gas products" was released
in order to accelerate the management of product carbon footprint, the ministry of ecology and environment organized the preparation of the national standard "quantification requirements and guidelines for carbon footprint of greenhouse gas products", which has been officially released recently. this standard is the general principle for product carbon footprint accounting, which stipulates the research scope, application, principles and quantitative methods of product carbon footprint. it mainly draws on the iso 14067 international standard issued by the international organization for standardization (iso). compared with the international standards, it adds the reference framework for the preparation of specific product carbon footprint standards and data geographic boundary information recommendations. the content is richer and more operational, filling the gap in the general standard for domestic product carbon footprint accounting and providing a basis for guiding the preparation of specific product carbon footprint accounting standards.
zero carbon interpretation:this standard revision draws on the iso 14067 international standard and is consistent with the life cycle assessment standards (gb/t 24040 and gb/t 24044), which stipulates the research scope, principles and quantitative methods of product carbon footprint. it clarifies that the quantitative method should include four stages: determination of purpose and scope, life cycle inventory analysis, life cycle impact assessment and life cycle result interpretation. compared with the international standard, this standard adds a reference framework for the preparation of specific product carbon footprint standards and proposes a product carbon footprint calculation method. it is richer in content and more operational.
2.the state council: encourage the import and export of technologies and services such as energy conservation and carbon reduction, environmental protection, and ecological governance that are urgently needed in china
on september 2, the general office of the state council issued the opinions on promoting high-quality development of service trade with high-level opening, which pointed out that we should help green and low-carbon development, vigorously develop green technology and green service trade, and study and formulate a guidance catalogue for the import and export of green services. we should encourage the import of technologies and services such as energy conservation and carbon reduction, environmental protection, and ecological governance that are urgently needed in china, and expand the export of green energy-saving technologies and services. we should strengthen international cooperation in green technology and build a cooperation platform between enterprises.
zero carbon interpretation：the opinions emphasize the importance of studying and formulating a green service import and export guidance catalogue to promote the development and application of green and low-carbon technologies. at the same time, in order to meet domestic needs for energy conservation and carbon reduction, environmental protection, and ecological governance, it encourages the import of related technologies and services, supports domestic enterprises to promote green energy-saving technologies and services to the international market, and enhances international competitiveness.
3. the national energy administration issued the "rules for issuance and trading of renewable energy green electricity certificates"
on september 5, the national energy administration issued the "rules for the issuance and trading of renewable energy green electricity certificates", which clarified the specific requirements in terms of division of responsibilities, account management, green certificate issuance, green certificate trading and transfer, green certificate cancellation, information management and supervision.
zero carbon interpretation：the rules clarify the overall principles for the issuance and trading of green certificates, including unified issuance, open trading, market competition, information transparency and full traceability. issuance is organized by the state, trading is open to the whole society, prices are formed through market-oriented means, relevant information is disclosed in a timely and accurate manner, and data on the entire life cycle of green certificates is traceable. the issuance and implementation of the rules will help to fully reflect the green environmental value of renewable energy projects, cultivate a green certificate and green electricity trading market, and create a green electricity consumption environment. it has important practical significance for promoting the high-quality development of renewable energy, supporting the clean and low-carbon transformation of energy, and promoting the green development of the economy and society.
4. central bank: will study expanding the scope of support for carbon emission reduction support tools
lu lei, deputy governor of the people's bank of china, said at a press conference held by the state council information office that the next step will be to introduce a series of policy arrangements for green finance to serve the construction of a beautiful china in accordance with the general requirements of the construction of a beautiful china. research will be conducted to expand the scope of support for carbon emission reduction support tools, extend the policy period, and expand the scale of re-lending to provide more low-cost financial support for green development and low-carbon transformation. financial institutions' performance in supporting green and low-carbon development will be included in the scope of green finance assessment and evaluation, and the application of assessment results will be strengthened to guide more financial resources to flow into the green and low-carbon fields.
zero carbon interpretation：when applying for carbon emission reduction support tools, financial institutions need to provide carbon emission reduction data for loans related to carbon emission reduction projects and commit to disclose relevant information to the public. the people's bank of china will verify the authenticity of information disclosed by financial institutions through third-party professional institutions. expanding the scope of support for carbon emission reduction support tools means that more industries and projects may benefit from this policy, thereby obtaining low-cost financial support and promoting green and low-carbon development. this will help achieve china's carbon peak and carbon neutrality goals and promote sustainable economic development.
5."shunyi district carbon peak implementation plan" issued
recently, the people's government of shunyi district, beijing, issued the "shunyi district carbon peak implementation plan" (shunzhengguifa [2024] no. 2), adhering to a systematic concept, handling the relationship between development and emission reduction, overall and local, long-term goals and short-term goals, government and market, and taking the comprehensive green transformation of economic and social development as the guide, and green and low-carbon energy development as the key, to accelerate the formation of a green and low-carbon industrial structure, production mode, lifestyle, and spatial pattern, and unswervingly follow the path of green, low-carbon, high-quality development, and contribute shunyi's strength to the capital's realization of carbon peak as scheduled in 2030.
zero carbon interpretation:the release of the plan marks a solid step forward for shunyi district in carbon peak and carbon neutrality, and provides a clear path and goal for achieving green and low-carbon development. the plan clearly states that during the 14th five-year plan period, significant progress will be made in the adjustment of industrial structure and energy structure, and energy consumption per unit of gdp and carbon dioxide emissions will meet the municipal requirements. by 2025, the proportion of renewable energy consumption will reach more than 12%, energy consumption per unit of gdp will decrease by 14% compared with 2020, and carbon dioxide emissions per unit of gdp will decrease by 19% compared with 2020. by 2030, ensure that the proportion of renewable energy consumption, energy consumption per unit of gdp and carbon dioxide emissions meet the municipal requirements.
b. industry dynamics
6shougang group's ccer auction of 1.5 million tons, with the lowest transaction price of 95.5 yuan/ton
on september 3, shougang co., ltd. completed the ccer auction. a total of 1,487,169 tons were sold in this auction, which was conducted in three sessions. the first session sold 300,000 tons at 95.5 yuan/ton, the second session sold 440,000 tons at 95.5 yuan/ton, and the third session sold 747,169 tons at 96.5 yuan/ton.
zero carbon interpretation：ccer is a mechanism to supplement carbon emission rights trading (cea), allowing enterprises to offset part of their carbon emission quotas by purchasing ccer. shougang co., ltd.'s auction reflects the market demand for ccer and the current market price level of ccer. on the same day, the closing price of the national carbon market quota was 93.07 yuan/ton, and the ccer transaction price was 2.5-3.5 yuan/ton higher, which shows that the market demand for ccer is huge.
7.the first carbon footprint database for refining and chemical products is officially launched
recently, the maoming petrochemical carbon footprint implementation project, a project to promote and improve sinopec's carbon asset management system, was put into use. the first carbon footprint database in the system, including 47 types of refining and chemical products, was built to visualize carbon emissions in each link of the production process, providing data support for the export of related products and reducing greenhouse gas emissions.
zero carbon interpretation：the launch of the first carbon footprint database for refining and chemical products marks an important step for china in carbon emission management and green and low-carbon production. maoming petrochemical plans to further deepen the application of the system and continuously optimize functions such as carbon footprint reporting and carbon labeling to support green and low-carbon production. this marks an important step for sinopec in promoting the accurate accounting and application of carbon footprint in the energy and chemical industry chain, which will help improve the carbon footprint management level of the entire industry.
8. the 14th national winter games announced to achieve carbon neutrality
on september 2, the 14th national winter games officially announced the achievement of the carbon neutrality goal, becoming the first comprehensive winter sports event in the country to achieve carbon neutrality. this move is also an important milestone in the carbon neutrality of large-scale events in inner mongolia, and provides a carbon neutrality implementation model that can be used as a reference for other large-scale sports events and public activities.
zero carbon interpretation:the 14th national winter games offset a total of 46,329 tons of carbon dioxide equivalent, which is much greater than the actual emissions, thus exceeding the carbon neutrality task of the "14th winter games". this practice demonstrates a new model of effective cooperation among the government, enterprises and the public. it is an important opportunity for inner mongolia to promote the concept of green and low-carbon development and guide the society to participate in voluntary emission reduction. it has set a new example for promoting green and low-carbon development and responding to climate change.
c. international highlights
9eu climate commissioner reiterates eu's three main goals for cop29
wopke-hokestra noted that the eu has three fundamental positions at cop29: ministers and leaders must reaffirm their commitment to move away from fossil fuels and start showing how they are taking steps towards this; agree on a new, ambitious and achievable climate finance target that gives confidence that public and private resources will support the transition; and launch an international carbon market in accordance with the paris agreement, with rules that are environmentally sound, transparent and accountable.
zero carbon interpretation:reaffirming the commitment to no longer use fossil fuels, this position emphasizes the eu's long-term commitment to reducing greenhouse gas emissions. it requires countries to not only make verbal commitments, but also demonstrate through concrete policies and actions how they are phasing out fossil fuels, such as through investment in renewable energy, improving energy efficiency, developing green transportation and other measures; agreeing on new climate finance targets, which may include increasing financial assistance to developing countries to help them adapt to and mitigate the impact of climate change, and promoting the development of green technologies and sustainable projects; launching an international carbon market. the purpose of the carbon market is to reduce global greenhouse gas emissions through economic incentives, that is, by providing economic rewards for reducing emissions, encouraging companies and countries to adopt more environmentally friendly practices. this market needs to have strict rules to ensure its environmental integrity, that is, to ensure that the traded carbon credits are real and valid and do not lead to "carbon leakage".
10. the tsinghua university team of the "tiangong project" visited europe, and the sino-european "carbon footprint" exchange heated up
on september 2, professor xu ming of tsinghua university and his delegation visited the european commission environment agency (ec dg-env) in brussels, belgium, met with the eu life cycle data network (lcdn) team, introduced the tiangong project and tiangong database, and conducted in-depth discussions on the principles, methods and paths for the interoperability of china-eu carbon footprint databases. on september 4, at the invitation of the european commission joint research center (ec jrc), professor xu ming gave an academic report entitled "resource sustainability: historical and future perspectives" at the polytechnic university of milan, italy, and conducted in-depth exchanges and discussions on cooperation with relevant personnel of the joint research center.
zero carbon interpretation：the tsinghua university team's visit to europe, especially professor xu ming's academic report at the polytechnic university of milan in italy and the exchange with the european commission joint research center (ec jrc), is an important manifestation of china-eu exchanges and cooperation in the field of "carbon footprint". this exchange not only demonstrated the latest progress of the "tiangong project", but also explored the possibility of jointly promoting the establishment of a global and standardized carbon footprint data system. this is of great significance for promoting the mutual recognition of international carbon footprint accounting rules and data standards.
two、special carbon discussion
the first batch of ccers are publicly listed, with offshore wind power projects dominating. what important signals are released?
on september 2, the national carbon emission trading market ushered in a milestone moment - the first batch of china certified emission reduction (ccer) projects were officially launched online.
so far, there are 37 ccer projects in the first batch, covering afforestation, mangroves, solar thermal and sea breeze projects. among them, sea breeze projects account for the vast majority with 21 projects, showing the important position of offshore wind power in china's efforts to reduce emissions.
image source: national voluntary greenhouse gas emission reduction registration system and information platform
among the first batch of ccer project owners, cgn took the lead with 6 projects, followed by state power investment corporation, three gorges, and rudong with 3 projects each. the announcement of these projects indicates that the first batch of ccer will officially enter the market trading soon, bringing new trading opportunities and liquidity to the carbon market.
in addition, in terms of emission reductions from individual projects, the largest project is the 496 mw offshore wind power project in area c of the changle offshore wind farm of funeng strait company, with an annual emission reduction of approximately 846,357 tons; the smallest project is the mangrove vegetation restoration project in yantian township and changchun town, xiapu county, fujian province, with an annual emission reduction of approximately 1,085 tons.
whyoffshore wind power projects account for the majority?
offshore wind power projects account for the vast majority of the first batch of ccer projects announced, and there are multiple considerations and reasons behind this. first, offshore wind power is one of china's strategic emerging industries, with rich resource reserves and huge development potential. the cumulative installed capacity of offshore wind power has grown rapidly in the past few years, and it is expected to develop towards large-scale, deep sea, and integrated development in the future, which is of great strategic significance to the construction of a new power system.
secondly, offshore wind power projects have significant greenhouse gas emission reduction effects and low-carbon demonstration effects. the scale of a single project is large, and the data quality is clear and guaranteed, which can ensure that the voluntary emission reduction trading market has a significant emission reduction effect. according to preliminary estimates, the annual emission reduction of offshore wind power projects that meet the requirements of 30 kilometers offshore or water depth greater than 30 meters is about 12 million tons of co2e. it is expected that by 2025, the emission reduction can increase to 45 million tons of co2e.
in addition, after the offshore wind power project is connected to the grid, wind energy is used to replace fossil energy for power generation, avoiding greenhouse gas emissions generated by other grid-connected power plants in the regional power grid. it has natural green and low-carbon attributes, which is conducive to promoting energy conservation and emission reduction in the industry, promoting synergistic efficiency of carbon reduction and pollution reduction, guiding social green and low-carbon development, and promoting the realization of carbon peak and carbon neutrality goals.
at the same time, among the first batch of methodologies included in the voluntary greenhouse gas emission reduction projects, the methodology for offshore wind power projects is relatively mature and rigorous, with clear technical requirements and safeguards for the calculation of project emission reductions and data quality, ensuring that the emission reduction effects of the projects can be accurately quantified and verified.
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after 7 years, a true "restart"
seven years after the national development and reform commission suspended the acceptance of ccer projects in 2017, the first batch of ccers were publicly listed online, which represents the real "restart" of the ccer market. the listing of the first batch of ccer projects also indicates that the issuance of new ccers has officially entered the countdown. it is expected that these projects will officially enter the market in the next few months, providing investors with new market opportunities.
as an important supplementary mechanism of the national carbon market, the launch of the national ccer market will help further enrich and improve the functions of the national carbon market, help enterprises reduce carbon emission reduction costs, and promote the green and low-carbon transformation of the whole society. against the background of the increasing popularity of the concept of green and low-carbon development and the gradual integration of the carbon market with international standards, the launch of the ccer market will inevitably give rise to market opportunities such as carbon sink development, carbon inclusiveness, and carbon finance, and has attracted much attention and expectations from the industry.
the first batch of ccers listed online are expected to reduce emissions by more than 70 million tons. with the listing of subsequent projects and the rise in carbon prices, it is expected that this batch of ccers will have huge room for appreciation. the owners of the first batch of ccers listed online are mainly state-owned (central) enterprises, which also means that most ccers may not flow into the market immediately, but for investors looking forward to participating in the carbon market, this is a positive signal, indicating the future development and potential of the market.
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ccer market is on the rise, we need to see the new blue ocean of tens of billions
with the launch of the national carbon market and the inclusion of ccer in the trading scope, the demand for ccer from national emission-controlled enterprises and voluntary emission-reduction enterprises has increased rapidly. at the same time, combined with the expectations of carbon market expansion and tightening of carbon quotas, as well as external factors such as eu carbon tariffs, all sectors of society are willing to develop carbon sinks and participate in the national ccer market.
looking back, as of 2017, when the country temporarily suspended the acceptance of ccer projects, the cumulative ccer registration volume was 53 million tons. after the first compliance cycle and the first compliance cycle of the national carbon market, the remaining tradable ccer in the market is less than 10 million tons.
on september 3, shougang co., ltd. organized a ccer bidding transaction, with a transaction volume of 1.48 million tons, and a transaction price between 95.5-96.5 yuan/ton. the ccer transaction price is slightly higher than the national carbon market quota price. on the same day, the national carbon market quota closing price was 93.07 yuan/ton, and the ccer transaction price was 2.5-3.5 yuan/ton higher, which shows that the ccer market demand is huge.
next, the ministry of ecology and environment will evaluate and select methodologies for other fields, and gradually expand the scope of inclusion in accordance with the principle of "one mature, one released". on july 30, the ministry of ecology and environment released the second batch of ccer methodologies for public comments, including the utilization of low-concentration gas and wind exhaust gas in coal mines and the energy-saving methodologies for highway tunnel lighting systems. both methodologies exempt projects from certification for additionality. the public solicitation of opinions on the second batch of ccer methodologies marks that china has further expanded the scope and direction of voluntary greenhouse gas emission reduction projects.
in the future, as more and more industries are gradually included in the national carbon market and more and more methodologies mature, the market predicts that the demand for ccer is expected to grow to 400 million tons. based on the current carbon price of 90 yuan/ton, the scale of the national ccer market will reach tens of billions in the future.
tao ye, researcher at beijing news zero carbon research institute
edited by bai huabing proofread by zhao lin
