i-rec decides to withdraw from the chinese market
2024-09-23
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recently, the i-tracking international tracking standards foundation issued an important announcement on china green certificates, deciding to stop services and withdraw from the chinese market. for all power generation facilities registered in china, issuance requests will not be reviewed, and issuance will not be allowed after march 31, 2025.
zero carbon interpretation:this policy change means that chinese asset owners cannot use gec to seek mutual recognition of international instruments such as i-rec(e), which may affect the ability of foreign and international companies operating in china to comply with international trade, disclosure, reporting requirements and tax obligations. the withdrawal of i-rec may have a certain impact on the international financing and carbon trading of china's renewable energy projects, but in the long run, with the withdrawal of the international green certificate i-rec, china's green power certificate market will usher in new development opportunities, and local companies will have more opportunities to participate in the trading and circulation of green power certificates, promoting the rapid development and popularization of renewable energy projects.
tao ye, researcher at beijing news zero carbon research institute
edited by bai huabing proofread by zhao lin
