China is the world’s largest CO₂ emitter
China reboots voluntary offset market
Relaunch comes seven years after market was closed to new entrants because of low volumes and lack of standards
China has relaunched its voluntary offset market, setting the stage for a major expansion of carbon trading in 2024 amid growing expectations the country’s emissions trading scheme will also be expanded. Trading of carbon offsets, known as China Certified Emission Reduction (CCER) credits, officially resumed on 22 January, according to the Ministry of Ecology and Environment (MEE). The scheme was set up in 2012, but new project registrations were suspended in March 2017 as a result of low trading volumes and a lack of standards in carbon audits for projects. The first transaction following January’s relaunch was made by China’s offshore-focused NOC CNOOC, which purchased 250,000t of credits
Also in this section
11 August 2025
US company reiterates commitment to CCUS as it agrees to work with major steelmakers to drive large-scale deployment in Asia
7 August 2025
Draft law opens door to large-scale carbon capture and storage, and could unleash investment in gas-based hydrogen projects
6 August 2025
EU industry and politicians are pushing back against the bloc’s green agenda. Meanwhile, Brussels’ transatlantic trade deal with Washington could consolidate US energy dominance
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
