Big news for climate action! The Chinese mainland just marked a milestone as its revamped voluntary carbon market saw its first transaction this week. State-owned energy giant CNOOC snapped up 250,000 tonnes of carbon credits in Beijing – the equivalent of offsetting 250,000 tonnes of CO₂ emissions.
Here’s the breakdown: China’s carbon trading system has two key parts. The first is a mandatory Emissions Trading Scheme (ETS), where high-polluting companies get capped emissions and must buy allowances if they overshoot. The second? This new voluntary market, called the China Certified Emission Reduction (CCER), where companies like CNOOC can purchase credits to balance their carbon footprint voluntarily.
Why it matters: This move aligns with China’s push to hit peak carbon before 2030 and achieve carbon neutrality by 2060. Think of carbon credits like eco-points – every tonne bought = one less tonne heating up the planet.
What’s next? Experts say the CCER could supercharge green innovation, giving businesses a financial incentive to cut emissions. For global climate warriors, it’s a step in the right direction – proving even energy giants are pivoting toward sustainability.
Big news for climate action! The Chinese mainland just marked a milestone as its revamped voluntary carbon market saw its first transaction this week. State-owned energy giant CNOOC snapped up 250,000 tonnes of carbon credits in Beijing – the equivalent of offsetting 250,000 tonnes of CO₂ emissions. 
Here’s the breakdown: China’s carbon trading system has two key parts. The first is a mandatory Emissions Trading Scheme (ETS), where high-polluting companies get capped emissions and must buy allowances if they overshoot. The second? This new voluntary market, called the China Certified Emission Reduction (CCER), where companies like CNOOC can purchase credits to balance their carbon footprint voluntarily.
Why it matters: This move aligns with China’s push to hit peak carbon before 2030 and achieve carbon neutrality by 2060. Think of carbon credits like eco-points – every tonne bought = one less tonne heating up the planet. 
What’s next? Experts say the CCER could supercharge green innovation, giving businesses a financial incentive to cut emissions. For global climate warriors, it’s a step in the right direction – proving even energy giants are pivoting toward sustainability. 
Greenhouse Gas Levels Reach Record Highs in 2023
