China has launched – or will imminently launch – seven pilotcarbon markets, covering certain cities and regions, including Beijing, Shanghai and Guangdong province.
Each of the pilot markets will allow companies to buy offsets – knownas Chinese Certified Emissions Reductions (CCERs) – to help meet some of theirlegally binding obligations.
In Beijing – where 40% of carbon emissions are now coveredby the ETS – companies can meet 5% of their obligation via CCERs.
