Dual carbon hotspots The country will start the overall management of cross border carbon trading

Mondo Finance Updated on 2024-01-29

01 The state will start the overall management of cross-border carbon trading

During COP28, the relevant responsible comrade of the Department of Climate Change of the Ministry of Ecology and Environment said in an exclusive interview that the Ministry of Ecology and Environment attaches great importance to the importance of the internationalization of the carbon market for accelerating global climate action, and is willing to work with various carbon market mechanisms to explore feasible implementation paths and policy tools to promote greenhouse gas emission reduction. The implementation of cross-border carbon trading involves the convergence with relevant international rules, which will have an impact on China's completion of the nationally determined contribution target, and requires overall national management. The Ministry is working with relevant departments to study and formulate relevant management policies, and the state will guide all localities to carry out cross-border carbon trading in an orderly manner in accordance with the "Opinions of the Communist Party of China on Accelerating the Construction of a National Unified Market" and the relevant requirements of the Paris Agreement.

02 **Issued the Action Plan for Continuous Improvement of Air Quality

On December 7, the "Action Plan for Continuous Improvement of Air Quality" (hereinafter referred to as the "Action Plan") was issued to make comprehensive arrangements for the continuous improvement of air quality.

The Action Plan clearly states that by 2025, PM2 will be in cities at and above the prefecture level across the country5. The concentration will be reduced by 10% compared with 2020, and the proportion of days with severe pollution and above will be controlled within 1%.Total emissions of nitrogen oxides and VOCs decreased by more than 10% respectively compared to 2020. Beijing-Tianjin-Hebei and surrounding areas, Fenwei Plain PM25 concentrations decreased by %, PM2 in the Yangtze River Delta region5. The concentration is generally up to standard, and Beijing controls it within 32 micrograms of cubic meters.

03 Hubei is the first in the country to realize the connection of the three markets of "electricity-carbon-finance".

On December 8, the State Grid News reported that Hubei took the lead in realizing the "electricity-carbon-finance" three markets in the country. This is a mechanism innovation of State Grid Hubei Electric Power Company to help Hubei achieve the "double carbon" goal. Focusing on energy conservation and carbon reduction in the whole society, Hubei actively explores the integrated development of the power market, carbon market and financial market, and helps Hubei take the lead in opening up the three markets of "electricity-carbon-finance" in the country by innovating market mechanisms and business models, cooperating with carbon emission trading centers and financial institutions, and using green electricity trading as a link.

By pledging carbon allowances to financial institutions, enterprises can obtain low-interest loans to purchase green electricity, and the purchased green electricity can be deducted from carbon allowances in the carbon market, and the excess carbon allowances can also be traded in the carbon market to obtain profits. In this way, enterprises can not only meet export demand by purchasing green electricity, but also reduce carbon emission compliance expenditures and realize the value of carbon emission rights. According to reports, the "electricity-carbon-finance" three markets have successfully carried out a pilot transaction.

04 Ctrip Business Travel launched a corporate carbon account

Recently, Ctrip Business Travel launched a corporate carbon account, realizing the full-scenario statistics of corporate travel carbon emission data, providing enterprises with detailed carbon emission data display, and encouraging more corporate travel to reduce carbon emissions.

The carbon emissions of air tickets, cars, trains and other travel trips in corporate travel will be included in the system, which is convenient for enterprises to calculate carbon emissions. It is the first carbon account system in the business travel industry that covers all scenarios and all employees. In addition to providing corporate travel leaders with carbon accounts to manage corporate travel carbon emission data, it is another important initiative to encourage employees to choose low-carbon travel.

In order to motivate ordinary employees to choose low-carbon travel, Ctrip will display the carbon emission data of different products, and will lead employees to choose low-carbon travel through various forms of low-carbon science popularization. At present, users can log in to the Ctrip Business Travel app to view their cumulative carbon emissions and carbon reductions through the "Travel Footprint" on the "Me" page, and experience the corporate carbon account function.

05 China's first methanol extended-range power ship "Zhongshan No. 1" was successfully tested

Methanol extended-range power "Zhongshan No. 1" trial site.

It is reported that China's first methanol extended-range power ship "Zhongshan No. 1" recently successfully sea trials in Zhongshan City, Guangdong Province. "Zhongshan No. 1" is China's independent research and development, design and construction, with independent intellectual property rights of the first methanol extended range power ship, by the Shanghai Maritime University Professor Wang Zhongzhong team in conjunction with Hebei North China Diesel Engine Co., Ltd., Guangxi Shengbo new energy technology development, Guangdong Zhiyang Ship Engineering is responsible for the transformation.

The test results show that all the verification projects have reached the design indicators, and the trial has been a complete success.

06 Sungrow and EDF jointly built a virtual power plant for wind and solar storage in South Africa

Sungrow signed a supply agreement with EDF Renewables to provide a 264MWh liquid-cooled energy storage system for South Africa's first wind-solar-storage-integrated virtual power plant project. The project is one of South Africa's Risk Mitigation Independent Power Generation Procurement Programs (RMIPPPP), which will effectively alleviate the power crisis in South Africa, improve energy stability, and provide a demonstration for South Africa's new energy development.

The first virtual power plant project in South Africa, which deeply integrates wind power, photovoltaic and energy storage technologies, is composed of the first Ondale photovoltaic storage power station and the Dassiesridge wind storage power station 900 kilometers apart, all of which use Sungrow's PowerTitan liquid-cooled energy storage system, which greatly increases the proportion of new energy consumption. At the same time, the project is operated as a virtual power plant, which can realize cross-regional energy collaborative dispatch and improve the stability of regional power. It is estimated that the project can generate nearly 400 million kWh of clean electricity every year after being connected to the grid, meeting the annual electricity demand of 120,000 households.

07 ISO-14068, the international carbon neutrality standard, was officially released

The ISO14068 standard development team was established in February 2020 and was officially released after nearly 4 years. This standard is currently the only pair"Carbon neutral"Conceptual criteria for systematic sorting and quantification.

This document provides a standardized approach to achieving and demonstrating carbon neutrality. It applies to subjects, i.e., organizations and products (e.g. goods and services, including events and buildings). The tiered approach proposed therein prioritizes actions that reduce direct and indirect GHG emissions and enhance the main GHG removals, and is used only for offsetting the remaining carbon footprint after these actions.

ISO14068 achieves and proves "carbon neutrality" by quantifying, reducing and offsetting carbon footprints"principles, requirements and guidelines that will provide global implementation"Carbon Neutrality".

08 UK Met Office: Global warming in 2024 may break 1 for the first time5℃

The UK's National Weather Office (Dec. 8)** -- The global average surface temperature in 2024 could be 15 years above the first year. This is the first time that the Met Office has the potential for temperatures to temporarily exceed 1 in a year5. Temporarily exceeding does not mean that the Paris Agreement has been violated. In 2015, ** from around the world** agreed at a meeting in Paris to work to prevent global temperatures from rising by 1 above pre-industrial levels5℃。But more than 1The first year of 5 is sure to be a landmark event in climate history.

Earlier this year, November 17 was the first day to exceed the 2 limit of pre-industrial warming, according to short-term data. Based on current trends, long-term average temperatures are expected to rise above the 2 limit around the 40s of this century.

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