September 11, the National Energy Board Comprehensive Division General Office of the Ministry of Ecology and Environment issued the "notice on the work of linking renewable energy green power certificates with the voluntary emission reduction market" (hereinafter referred to as the "Notice"), and answered reporters' questions on related issues.
The Notification document proposes that renewable energy power generation projects be avoided to benefit from the duplication of green certificates and CCERs. For deep sea offshore wind power, solar thermal power projects, to choose to participate in the green card trading, the corresponding amount of electricity shall not apply for CCERs; to apply for CCERs, in the completion of the voluntary emission reduction project validation and registration, by the National Energy Administration Qualification Center "freeze" credited to the period of non-traded green certificates; in the completion of the emission reduction verification and registration, by the National Energy Administration Qualification Center to cancel the emission reduction corresponding to the non-traded green certificates, and make information available to the public. After completing the verification and registration of the emission reduction, the Qualification Center of the National Energy Administration will cancel the untraded green certificates corresponding to the emission reduction, and disclose the information to the society. The relevant departments shall effectively safeguard and protect the rights and interests of renewable energy power generation enterprises in making their own choices.
The original text follows:
General Department of the National Energy Administration General Office of the Ministry of Ecology and Environment Notice on the Connection of Renewable Energy Green Power Certificates and Voluntary Emission Reduction Markets
National Energy Zongtong Xinneng [2024] No. 124
Provinces (autonomous regions and municipalities directly under the Central Government) energy bureaus and ecological environment departments (bureaus), development and reform commissions and ecological environment bureaus of the relevant provinces (autonomous regions and municipalities directly under the Central Government) and Xinjiang Production and Construction Corps, dispatched organizations of the National Energy Administration, and relevant central enterprises:
In order to comprehensively implement the spirit of the 20th CPC National Congress and the 2nd and 3rd Plenary Sessions of the 20th CPC Central Committee, actively and steadily promote carbon peak carbon neutral, continuously improve the market-based allocation system of resources and environmental factors, and promote the effective convergence of renewable energy green power certificates (hereinafter referred to as the Green Certificates) and the national greenhouse gases voluntary emission reduction market (hereinafter referred to as the voluntary emission reduction market), the relevant matters are hereby notified as follows.
I. Establishment of a two-year transition period. During the transition period, the enterprises concerned of the projects applicable to the "GHG Voluntary Emission Reduction Project Methodology Grid-connected Offshore Wind Power" and "GHG Voluntary Emission Reduction Project Methodology Grid-connected Photovoltaic Power Generation" (hereinafter referred to as the deep-sea offshore wind power and photovoltaic power generation projects) may independently choose to issue the green certificates for trading or apply for the China Certified Voluntary Emission Reductions (hereinafter referred to as the CCERs); the photovoltaic and other wind power projects will not be newly incorporated into the voluntary emission reduction market. emission reduction market. After the transition period, the operation of the green certificate and voluntary emission reduction market will be synthesized, and the requirements of the green certificate and the voluntary emission reduction market for deep-sea offshore wind power and photovoltaic power generation projects will be adjusted in due course.
Second, to avoid renewable energy power generation projects from green certificates and CCER repeated benefits. For deep-sea offshore wind power, solar thermal power projects, to choose to participate in the green card trading, the corresponding amount of electricity shall not apply for CCERs; to apply for CCERs, after completing the validation and registration of voluntary emission reduction projects, the Qualification Center of the National Energy Administration "freezes" the green certificates for the period of non-transaction; after completing the verification and registration of emission reduction, the Qualification Center of the National Energy Administration cancels the non-transaction green certificates corresponding to emission reduction, and discloses the information to the society. After completing the verification and registration of the emission reduction, the Qualification Center of the National Energy Administration will cancel the untraded green certificates corresponding to the emission reduction, and disclose the information to the society. The relevant departments shall effectively safeguard and protect the rights and interests of renewable energy power generation enterprises in making their own choices.
(c) Establishment of an information-sharing mechanism. The National Energy Administration and the Ministry of Ecology and Environment have established an information-sharing mechanism through the national green certificate issuance and trading system and the CCER registration platform, so as to promptly exchange information related to the green certificate issuance and trading and CCER application of deep and distant sea offshore wind power and photovoltaic power generation projects.
(d) Strengthening trading supervision. The National Energy Administration and the Ministry of Ecology and Environment have organized and guided the relevant parties to use big data, blockchain and other technical means to strengthen the construction of the national green certificate certification and trading system and the CCER registration platform, so as to ensure the authenticity of the data from the source. Relevant parties should verify and check the data on a regular basis to prevent renewable energy power generation projects from benefiting from green certificates and CCER duplication.
V. This circular shall take effect from October 1, 2024, for a period of two years.
General Department of the National Energy Administration General Office of the Ministry of Ecology and Environment
August 26, 2024
National Energy Administration Ministry of Ecology and Environment on the "renewable energy green power certificates and voluntary emission reduction market to do a good job in the work of the convergence of the notice," answered reporters.
Recently, the Comprehensive Department of the National Energy Administration (NEA) and the General Office of the Ministry of Ecology and Environment (MOE) jointly issued the Circular on the Connection of Renewable Energy Green Power Certificates and the Voluntary Emission Reduction Market (hereinafter referred to as the "Circular"). The National Energy Board, the Ministry of Ecology and Environment relevant responsible comrades were interviewed and answered reporters' questions.
Q: What is the background and significance of the Notice?
A: The Party Central Committee and the State Council attach great importance to green development. The report of the twentieth CPC National Congress clearly puts forward the promotion of green development and the acceleration of the green transformation of the development mode. The Third Plenary Session of the Twentieth CPC Central Committee called for actively responding to climate change, improving the mechanism for green and low-carbon development, and improving the trading system for voluntary greenhouse gas emission reductions. This year's government work report proposes to "promote the use of green power and international mutual recognition".
The National Energy Board conscientiously implement the Party Central Committee and the State Council decision-making and deployment, promote renewable energy green power certificate (referred to as green certificate) system continues to improve, July 2023, clear green certificate is recognized as the only voucher for renewable energy power production and consumption; January 2024, promote the green certificate trading power into the energy-saving evaluation and assessment index accounting, and vigorously promote the consumption of non-fossil energy; 2024 July, the new electrolytic aluminum industry green power consumption ratio target, green certificates to account for the completion of green power consumption ratio. Since the issuance of the relevant policies, the scale of green certificate trading has been steadily expanding, and the proportion of renewable energy consumption has been rising.
The National Greenhouse Gas Voluntary Emission Reduction Trading Market is a major institutional arrangement to actively respond to climate change and promote the green and low-carbon transformation of the economy and society, and it is a fundamental system to enhance China's discourse on global carbon pricing and to serve the international compliance of enterprises. As an internationally accepted market-basedreduce carbon emissionstools, certified voluntary emission reductions (hereinafter referred to as CCERs) in the voluntary emission reduction market can be used for offsetting quota clearing in the carbon emission rights trading market, green supply chain management, fulfillment of social responsibility, as well as large-scale activities, enterprises, and product carbon neutrality, etc.2023 In October 2023, the Ministry of Ecology and Environment, in conjunction with the General Administration of Market Supervision, issued the "Measures for Administration of Voluntary Emission Reduction Trading of Greenhouse Gases (for Trial Implementation)", which establishes the voluntary Emission Reduction Trading Market, which establishes the general idea, workflow and the rights and responsibilities of all parties involved in the market, and formulates and issues methodologies for projects such as deep sea offshore wind power and photothermal power generation to support the development of the renewable energy sector.
Green certificates and national greenhouse gas voluntary emission reduction trading are both important market-based mechanisms for promoting green development. The Opinions of the CPC Central Committee and the State Council on Accelerating Comprehensive Green Transformation of Economic and Social Development clearly require the strengthening of policy synergies among market-based mechanisms such as green power, green certificates and carbon trading. In order to clarify the boundaries of the green certificate market and CCER market, and to avoid the duplication of benefits from green certificates and CCER for deep and distant sea offshore wind power and solar thermal power projects, the two departments, after full communication and on the basis of extensive research in the early stage, jointly researched and compiled the Notice, which clarifies the specific requirements for the convergence of green certificates and CCERs.
The issuance and implementation of the Notice will help strengthen the effective convergence and policy synergy between green certificates and CCERs, and continuously improve the market-oriented allocation system of resources and environmental factors; help accelerate the international recognition of China's green certificates, meet the urgent demands of enterprises, and promote the improvement of the green power consumption system based on green certificates; and contribute to the soundness of the greenhouse gas voluntary emission reduction trading system.
Q: What are the main considerations of the Notice in establishing a two-year transition period?
A: The green certificate system and the voluntary emission reduction trading market both have the role of promoting power generation in the renewable energy sector and greenhouse gas emission reduction, but they have different functions and positioning. The green certificate system aims to provide incentives and subsidies for all renewable energy power generation projects and promote energy restructuring. The voluntary emission reduction market, in accordance with the internationally accepted requirement of "additionality", focuses on areas and projects that can achieve additional emission reduction effects, encourages the development of areas with clear emission reduction mechanisms, in urgent need of economic incentives, with both social and ecological benefits, and where effective regulation can be realized, so as to accurately serve society as a whole in controlling and reducing greenhouse gas emissions.
As the international community's attention to the green and low-carbon level of the enterprise supply chain continues to rise, enterprises need to realize the goals of renewable energy and carbon emissions through the green certificate system and the voluntary emission reduction mechanism. As renewable energy projects may benefit from duplication in the green certificate and voluntary emission reduction mechanism, it is necessary to clarify the relevant regulations at the policy level to help realize China's "dual-carbon" goal.
Based on this consideration, the Notice makes it clear that renewable energy power generation project owners can independently choose to issue trading green certificates or apply for CCERs, and sets a two-year transition period, with the time calculated from October 1, 2024 onwards. In the transition period, in line with the greenhouse gas voluntary emission reduction of deep sea wind power, photovoltaic and thermal power generation project methodology requirements of renewable energy projects, can be independently selected by the project owner to certify the issuance of trading green certificates or apply for CCERs, in addition to deep sea wind power, photovoltaic power generation project, photovoltaic, other wind power projects are not newly included in the voluntary emission reduction market for the time being. After the transition period, the green certificate and the voluntary emission reduction market articulation method will be studied and clarified again. It should be noted that the renewable energy power generation projects that have completed the CCER filing before March 2017 are implemented with reference to the relevant requirements of the Notice.
Q: What specific provisions have been made in the Notice to avoid duplication of benefits for renewable energy power projects from green certificate trading and CCER applications?
A: The Qualification Center of the National Energy Administration issues the corresponding green certificates on a monthly basis based on the settlement power information provided by power grid enterprises and power trading centers for deep and distant sea wind power and solar thermal power generation projects. In order to avoid repeated benefits for the project, the Notice makes it clear that project owners of deep and distant sea offshore wind power and solar thermal power generation projects can voluntarily choose to participate in green certificate trading or apply for CCERs, among others:
For projects to be selected to participate in green certificate trading, the enterprise commitment is taken to declare that the corresponding renewable energy generation will no longer apply for CCERs, and the qualification center of the National Energy Administration will be publicized in the national green certificate certification and trading system.
For those who intend to apply for CCER project emission reduction registration, the enterprise commitment is taken to declare that the corresponding renewable energy generation capacity will no longer participate in the green certificate trading, and the national greenhouse gas voluntary emission reduction registry (hereinafter referred to as CCER registry) will be publicized in the CCER registry system.
Renewable energy power generation projects in the completion of the voluntary emission reduction project validation and registration, CCER registry to the National Energy Administration Qualification Center to push the project registration of the crediting period and other information, by the National Energy Administration Qualification Center in the national green certificate issuance and trading system "freezing" crediting period of the green certificates have not been traded.
For green certificates that have been traded before the validation and registration of voluntary emission reduction projects are carried out, the Qualification Center of the National Energy Administration will push the information of the traded green certificates during the crediting period to the CCER registry, and will reduce them according to the equivalent amount of electricity in the verification and registration of emission reductions.
After completing the verification and registration of emission reductions, the CCER registry pushes the information on the crediting period of emission reduction registration and CCER registration volume to the Qualification Center of the National Energy Administration (NEA), and the Qualification Center of the NEA will cancel the non-traded green certificates corresponding to the CCER registration volume within the crediting period of the project in the national green certificate verification and trading system, and disclose the cancellation information to the whole society; for those who have not passed the verification and registration of emission reduction, the corresponding "frozen" green certificates of renewable energy generation volume will be lifted from the "freeze", and they can participate in green certificate trading. If the project fails to pass the verification and registration of emission reductions, the green certificates corresponding to the "frozen" renewable energy generation capacity will be released from the "freeze", and can participate in the green certificate transaction.
Q: What specific arrangements have been made in the Notice for the establishment of an information-sharing mechanism and the strengthening of transaction supervision?
A: The Notice stipulates the specific operation methods to avoid renewable energy power generation projects from duplicating the benefits of green certificates and CCERs, and in order to safeguard the implementation, it synchronizes and clarifies the establishment of an information sharing mechanism, the strengthening of transaction supervision and other related measures.
The National Energy Administration and the Ministry of Ecology and Environment have organized the Qualification Center of the National Energy Administration and CCER registrars to exchange information on the "freezing", cancellation and trading of green certificates for deep and distant sea offshore wind power and photothermal power generation projects, as well as on voluntary emission reduction projects and registration of emission reductions, through the national green certificate issuance and trading system and the CCER registry system. Project and emission reduction registration information;
Secondly, to strengthen the authenticity of data, the National Energy Administration and the Ministry of Ecology and Environment have guided the National Energy Administration Qualification Center and CCER registries to use big data, blockchain and other new technologies to strengthen the construction of the National Green Certificate Certification Certification and Transaction System and the CCER registry system, so as to ensure that the data are authentic and trustworthy, safe and traceable, and tamper-resistant from the source;
Third, do a good job of data checking, the National Energy Board Qualification Center, CCER registry and other units should be organized to establish a green certificate certification and issuance transactions and CCER registration data checking mechanism, regular verification and inspection of data, to prevent renewable energy power generation projects from green certificates and CCER duplication of benefits.
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