Hainan International Carbon Emissions Trading Center plans to open in the second half of this year
Seize the commanding heights of blue carbon international
Our reporter Hou Ke
A few days ago, Hainan International Carbon Emissions Trading Center (hereinafter referred to as "Sea Carbon Center") was approved to be established and plans to be registered in Sanya City.
At present, the preparatory team is carrying out various preliminary preparations, and it is expected to open and operate in the second half of this year.
After the establishment of the Sea Carbon Center, the term "blue carbon" will also be known to more people.
Blue carbon, or blue carbon sink, refers to the process, activity and mechanism of using ocean activities and marine organisms to absorb carbon dioxide in the atmosphere and fix and store it in the ocean.
It is understood that the Sea Carbon Center will become China's first carbon market with internationalization as the main feature and the intersection of domestic and foreign carbon markets.
In addition, the establishment of the Sea Carbon Center will promote the market-oriented trading of blue carbon products, promote Hainan's blue carbon methodology to become an internationally recognized standard, and strive to be included in the international ocean governance system.
Under the background of a new international carbon emission reduction trading mechanism, what is the significance of the establishment of the Sea Carbon Center for my country to connect with the global carbon market?
How to seize the international commanding heights of ocean carbon sinks and increase China's voice in international climate governance?
The reporter interviewed the relevant persons in charge of the preparatory team of the Sea Carbon Center, the Sanya Municipal Government of Hainan Province and the Hainan Provincial Local Financial Supervision and Administration Bureau.
Hainan Free Trade Port's unique institutional advantages open up cross-border channels for the internationalization of the Sea Carbon Center
As an important policy tool to achieve the "dual carbon" goal, carbon emission trading has become an important part of my country's comprehensive green transformation of the economy and society.
Since 2011, China has launched pilot carbon emissions trading in seven provinces and cities including Beijing, Shanghai, Guangdong, and Hubei.
On July 16, 2021, the national unified carbon emission trading market was officially launched, which means that the nationwide carbon emission trading has kicked off, and China will become the world's largest carbon market.
"Different from the established local and regional carbon market pilots and the national carbon market, the Sea Carbon Center is anchored and strives to become an international carbon emission trading platform with certain influence." The relevant person in charge of the Second Supervision Division of the Hainan Provincial Financial Bureau told the Reporter, the Sea Carbon Center mainly faces the international market, introduces international customers, trades international products, and uses the advantageous policies of Hainan Free Trade Port to open up to the outside world to build an international carbon market in my country.
Regarding the establishment of an international carbon emission trading venue, the CPC Central Committee has already made arrangements, and Hainan has also made plans.
In April 2018, General Secretary Xi Jinping's speech at the celebration of the 30th anniversary of Hainan's establishment of a special economic zone emphasized that he supported Hainan to establish international energy, shipping, bulk commodities, property rights, equity, carbon emission rights and other trading venues to form a more mature and more mature. Formed institutional system.
In May 2019, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued the "Implementation Plan for the National Ecological Civilization Pilot Zone (Hainan)", which clearly proposed to "explore and establish an international carbon emission trading venue in compliance with laws and regulations" and "establish and improve pollution rights and carbon emissions." rights and other environmental rights and interests trading system” and other requirements.
In September last year, the Hainan Provincial People's Government issued the "Implementation Plan on Implementing the Opinions on Financial Support for Hainan's Comprehensive Deepening of Reform and Opening-up", further proposing, "Promoting the establishment of an international carbon emission trading venue in Hainan, highlighting differentiated development positioning, and connecting national carbon emissions. Trading Markets and International Markets".
Why choose to establish an international carbon market in Hainan?
The relevant person in charge of the Sanya Municipal Government of Hainan Province said that cross-border trading is the general trend of the carbon market, and the unique institutional advantages of the Hainan Free Trade Port have opened up cross-border channels for the internationalization of the sea carbon center.
The "Overall Plan for the Construction of Hainan Free Trade Port" issued by the Central Committee of the Communist Party of China and the State Council proposes to study allowing non-residents to participate in transactions and conduct fund settlements in accordance with regulations.
Support the established trading venues in the Hainan Free Trade Port to establish rules and systems that are in line with international practices in terms of membership, trading, taxation, clearing, delivery, investor rights protection, and anti-money laundering.
"To this end, Hainan has issued the "Trial Regulations on the Management of Non-residents Participating in the Transaction of Specific Products in Hainan Free Trade Port Trading Places", which has opened up cross-border channels for foreign customers to participate in transactions, and can introduce international customers, international funds, and international products to conduct transactions in Hainan. ."
Efforts to build a China-led international carbon trading market strategic pattern
From a domestic perspective, the Hai Carbon Center is an important practice for implementing the national green development strategy. It will build a market-oriented ecological compensation mechanism and promote low-carbon economic and social transformation through carbon finance. It is also an important platform for implementing the Hainan Free Trade Port strategy, which will drive green The industry has developed in an agglomerative manner in Hainan, and a carbon inclusive trading system has been established for the majority of residents.
From an international perspective, at present, there is no unified carbon trading market in the world. After the Glasgow Climate Change Conference in 2021, a new international carbon emission reduction trading mechanism will be formed.
"Hainan takes the lead in establishing a cross-border carbon trading venue, and will formulate a cross-border trading rule system in line with the characteristics of my country's industry as soon as possible, cooperate with various international organizations, widely introduce international carbon emission reduction varieties, create a rich product line, and strive for carbon emissions. Trading international pricing power. On the other hand, we will also 'go out' and export the standards, technologies, rules and R&D capabilities of carbon emission reduction products to the 'Belt and Road' countries," said the relevant person in charge of the Sanya Municipal Government.
In addition, Hainan, as a relatively independent geographical unit, under the free trade port policy, it is convenient to strengthen the effective supervision between the "first-line" and "second-line", and can achieve a high-standard and open "domestic customs" model. Here, we will explore the establishment of international The carbon market, relying on China's total market advantage as the world's largest emitter, attracts cross-border carbon asset trading to gather in Hainan, and assumes the window function of my country's carbon asset trading internationalization, which will better serve the "Belt and Road" initiative and help my country participates in international climate negotiations.
Under the international orientation, what will the Sea Carbon Center trade?
Who are the transaction objects?
In response to these topics of public concern, the relevant person in charge of the preparatory team of the Sea Carbon Center said in an interview with reporters that in order to take advantage of Hainan's strategic position as a bridgehead and build a new dual-cycle pattern, the Sea Carbon Center will complement and differentiate the development of the national carbon market. , focusing on the introduction of international trading products, docking various mature products and mature business models in the international carbon market, and better coping with international trade barriers.
For example, based on Hainan carbon sink resources and international tourism consumption scenarios, carbon inclusive product transactions are carried out, and natural ecological resources such as forests and oceans are used to carry out ecological carbon sink transactions.
In addition, leveraging the unique advantages of Hainan as a major tourism province, quantifying the carbon emission reductions generated by the low-carbon lifestyles of the public and tourists.
"The focus of trading objects will radiate to the entire Asia-Pacific region, such as New Zealand, South Korea, etc. At the same time, it will connect with the United Nations Carbon Emissions Registration System to carry out spot product trading and spot forward trading of international emission reduction indicators. With the help of the Hainan International Clearing House under construction, Carry out centralized clearing and settlement, and strive to build a China-led international carbon trading market strategic pattern." said the relevant person in charge of the preparatory team.
Provide support for my country to strive for the dominance of the international blue carbon sink market and the right to speak in international climate governance
The ocean is the largest "carbon reservoir" on the earth, storing about 93% of the carbon dioxide on the earth. The carbon storage is 20 times that of the land and 50 times that of the atmosphere. About 1/3 of the carbon dioxide released by human activities is absorbed by the ocean.
With a vast sea area, my country is one of the few countries in the world that has three blue carbon ecosystems: seagrass beds, mangroves, and salt marshes.
At the same time, my country's mariculture production ranks first in the world, which not only absorbs a large amount of carbon dioxide, but also eliminates nitrogen and phosphorus, and purifies seawater.
It is worth noting that despite the abundance of blue carbon resources, my country's current carbon sink transactions are mostly in the form of forestry carbon sinks. The carbon market has not yet formed.
"Hainan is the province with the largest sea area in my country, with a sea area of 2.09 million square kilometers. The blue carbon sink is the largest characteristic species in Hainan and has huge potential for economic value." The relevant person in charge of the Sanya Municipal Government said that if wind power and solar energy are built offshore Electricity generation, the ocean's contribution to carbon reduction is even greater.
"The Sea Carbon Center will give full play to this advantage, build a marine carbon sink development service and supply and demand trading platform, develop a marine carbon sink standard system, encourage enterprises to develop corresponding carbon sink projects, and actively participate in the construction of an international blue carbon sink standard system. ."
According to the relevant person in charge of the Second Supervision Division of the Hainan Provincial Financial Bureau, Hainan's blue carbon methodology mainly refers to the formation of methods suitable for specific species and ecosystems in Hainan based on the existing blue carbon methodologies at home and abroad, focusing on projects in Hainan. learn various parameters.
Promote the development of Hainan's typical coral reef, fishery and microbial carbon sink methodology, form a systematic blue carbon accounting theory, monitoring indicators, assessment methods and other technical regulations, apply for international blue carbon methodology certification, and provide technology for the construction of the national blue carbon standard system support.
"The Sea Carbon Center will cooperate with Hainan International Blue Carbon Research Center to strive for the leading edge in the formulation of international blue carbon standards, build a blue carbon research cooperation and exchange platform and carbon trading service platform for countries along the "Belt and Road", and strive for international blue carbon for my country. The dominance of the blue carbon sink market and the right to speak in international climate governance provide support." The person in charge said that by strengthening strategic docking and expanding model cooperation with major global blue carbon research platforms, attracting and allocating global resources to jointly promote green and low-carbon development, Further explore and formulate marine carbon sink models and standard systems that can be promoted globally, and seize the international commanding heights in marine carbon sink research.