“碳中和”愿景下我国CCER市场发展研究

Research on CCER Market Development in China under the Vision of"Carbon Neutrality"

随着全球气候变暖问题日益严重,自愿减排市场的建设和应用,以及以自愿减排市场产生的碳减排信用为基础的碳金融产品获得广泛关注和积极发展。我国核证自愿减排量(CCER)交易市场虽然于2017年3月暂停至今,但随着我国“30·60”目标的提出,CCER对我国低碳绿色发展和碳市场建设运营有着重大意义,因此CCER有望再次重启。本文首先梳理了自愿减排市场三类减排机制的基本情况,以及不同类自愿减排机制的发展情况,介绍了中国CCER市场的发展情况、项目类型、开发流程、项目分布、抵消机制和交易情况,并从政策、基础建设、市场需求、发展等维度分析了CCER重启的可能性;其次,围绕国内外碳减排信用相关金融服务实践,重点介绍了国内CCER质押贷款、CCER托管服务、CCER基金等碳金融产品,以及以林业碳汇为主的碳金融产品创新;最后,针对我国CCER市场提出加快方法学开发整合、明确CCER项目纳入标准、完善减排量的核算方法和监测方法等建议,针对碳市场的建设提出尽快增加碳市场参与主体、尽快增加碳市场交易品种、完善碳金融市场的制度和规范等建议。

As the global warming problem becomes more serious,the construction and application of voluntary emission reduction market and carbon financial products based on carbon emission reduction credits generated from voluntary emission reduction market have gained wide attention and actively developed.Chinese Certified Emission Reduction(CCER)market has been suspended since March 2017,but with the proposal of the"30·60"goal,CCER is of great significance to China’s low-carbon development and the carbon market.Thus CCER is expected to restart again.This paper firstly sorts out three types of voluntary emission reduction mechanisms and development of voluntary emission reduction mechanisms.Subsequently,this paper introduces the development of CCER market,CCER project types,development processes,project distributions,offset mechanism and trading situation,and analyzes the possibility of CCER restart from the aspects of policy,infrastructure,market demand and future development.This paper also introduces the international and domestic financial practice of carbon emission reduction credit,and focuses on the CCER pledge loan,CCER custody service,CCER fund carbon financial products,as well as the carbon financial product innovation based on forestry carbon sink.Therefore,in terms of the CCER market,some suggestions are put forward,such as accelerating the development and integration of CCER methodologies,clarifying the inclusion criteria of CCER projects,and improving the accounting and monitoring methods of emission reductions.As for the construction of carbon market,suggestions such as increasing the participants and carbon financial products of carbon market as soon as possible,improving the system and norms of carbon financial market are put forward.