China has unveiled plans to incorporate two new project types into its voluntary carbon market (VCM).
The Ministry of Ecology and Environment announced on July 30 that it would begin consultations on methodologies for issuing carbon credits to projects utilizing coal mine gas and energy-efficient highway tunnel lighting.
These new crediting standards will operate under the China Certified Emission Reductions (CCER) framework, which was relaunched in January 2024 after a six-year hiatus to refine regulations.
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The carbon market in China has already established crediting methodologies for afforestation, mangrove cultivation, solar thermal power, and offshore wind power.
While no new projects have been approved and no credits issued since the relaunch, the CCER system is expected to become a key policy tool for channeling financial support into decarbonization initiatives.
The two proposed methodologies could potentially generate approximately 4.8 million tons of carbon dioxide equivalent in credits annually.
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