New rules for Beijing carbon market! Soon to be implemented!

2024-10-11 13:17:07

Key carbon emission units may use carbon emission reduction to offset part of their carbon emissions, and the proportion of use shall not be higher than 5% of the annual carbon emissions of the unit confirmed by the municipal ecological environment department in that year. The offset ratio of national greenhouse gas certified voluntary emission reductions generated by key carbon emission units using projects outside the municipal administrative region shall not exceed 2.5% of the annual carbon emissions of the unit confirmed by the municipal ecological environment department.

Recently, the Beijing Municipal Bureau of Ecology and Environment issued a circular on the Management Measures for Carbon Emission Offset in Beijing Carbon Emission Trading Market. The circular points out that key carbon emission units can use carbon emission reduction to offset part of their carbon emissions, and the proportion of carbon emission reduction should not be higher than 5% of the annual carbon emissions of the unit confirmed by the municipal ecological environment department in that year. The offset ratio of national greenhouse gas certified voluntary emission reductions generated by key carbon emission units using projects outside the municipal administrative region shall not exceed 2.5% of the annual carbon emissions of the unit confirmed by the municipal ecological environment department. Article 1 of the Measures for

the Management of Carbon Emission Offset in

Beijing Carbon Emission Trading Market is to regulate the use of carbon emission reductions by key carbon emission units (hereinafter referred to as "key carbon emission units") incorporated into the management of the city's carbon emission trading market to offset part of their carbon emissions. These Measures are formulated in accordance with the Notice of the Beijing Municipal People's Government on the Issuance of the Measures for the Administration of Carbon Emission Trading in Beijing (Beijing Zhengfa [2024] 6). Article

2 The Municipal Department of Ecology and Environment shall be responsible for the organization, implementation, comprehensive coordination, supervision and management of the work related to carbon emission offset in the municipal carbon emission trading market. Article

3 Key carbon emission units may use carbon emission reductions to offset part of their carbon emissions, and the proportion of use shall not be higher than 5% of the annual carbon emissions of the unit confirmed by the municipal ecological environment department in that year. Article

4 The carbon emission reductions that can be offset by key carbon emission units include the voluntary emission reductions of national greenhouse gas certification and the voluntary emission reductions approved by the city. Encourage the preferential use of locally generated carbon emission reductions. One ton of carbon emission reduction can offset one ton of carbon emission. Article

5 The offset ratio of national greenhouse gas certified voluntary emission reductions generated by key carbon emission units using projects outside the municipal administrative region shall not exceed 2.5% of the annual carbon emissions of the unit confirmed by the municipal ecological environment department. Encourage the priority use of national greenhouse gas certification voluntary emission reduction in Hebei Province, Tianjin and other areas that have signed cooperation agreements with the city on ecological environment, renewable energy and other related areas. Article

6 The voluntary emission reductions approved by this Municipality refer to the emission reductions generated by carbon inclusive projects carried out in accordance with relevant provisions, which involve transportation, construction, landscaping, renewable energy and energy conservation. Article

7 When a key carbon emission unit uses carbon emission reductions to offset part of its carbon emissions, it shall submit an offset application and related materials to the municipal ecological environment department, which shall complete the examination within 10 working days after the deadline for submission of the offset application, and the eligible carbon emission reductions may be used to offset part of its carbon emissions. Article

8 When a key carbon emission unit uses the national greenhouse gas certified voluntary emission reduction offset, it shall submit the following materials on the Beijing Carbon Emission Trading Management Platform:

(1) Application letter (affixed with the official seal of the unit), including the basic information of the unit, the use of offset projects and the description of the offset ratio.

(2) Transaction vouchers issued by national greenhouse gas voluntary emission reduction trading institutions.

(3) The project registration certificate issued by the national greenhouse gas voluntary emission reduction registration agency.

(4) Complete the certification materials for applying for the national greenhouse gas certification voluntary emission reduction in the national greenhouse gas voluntary emission reduction registration system for the offset purpose of the city's carbon emission trading market. Article

9 When a key carbon emission unit uses the voluntary emission reduction offset approved by the city, it shall submit an application letter (with the official seal of the unit) on the Beijing Carbon Emission Trading Management Platform, which shall include the basic information of the unit, the offset amount of the offset project, the offset proportion, etc. Article

10 Relevant institutions and personnel who violate the law in the process of offsetting shall be investigated for relevant responsibilities according to law. Article

11 These Measures shall come into force on January 1, 2025. The Measures for the Management of Carbon Emission Rights Offset in Beijing (Trial Implementation) (Beijing Development and Reform Regulation No.6, 2014) shall be abolished at the same time.

Calculate clinker production process emission, fuel combustion emission, power & heat consumption emission, total carbon emission & Carbon intensity and other related data, visit more cement industry carbon emission policies and data, please see: Cement Industry Carbon Emission Computing Center

The cement industry will soon be included in the carbon trading market, and the importance of green low-carbon transformation has become increasingly apparent. To this end, China Cement Network will hold the " 2024 China Cement Double Carbon Conference and the 12th Energy Conservation and Environmental Protection Technology Exchange Conference " in Wuhu Conch International Hotel on October 24-25. The conference will focus on the core issues of low-carbon development and green upgrading in the cement industry, discuss the application of energy efficiency improvement and energy-saving and carbon reduction technologies, and how the cement industry can use the carbon trading mechanism to promote its low-carbon transformation.

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Adani is also a big man in the Indian cement industry and is the second largest cement producer in India. He entered the industry in 2022 with the acquisition of Holcim's cement business in India, which acquired about 70 million tons of cement per year for $10.5 billion. Adani plans to expand its annual cement production capacity to 140 million tons by 2028. Adani has previously invested $1.6 billion to acquire Sanchi Cement and Penna Cement, and is expected to acquire an additional 21 million tons of production capacity.