Climate Action Reserve (CAR) has released a draft protocol for China’s adipic acid production, claiming that the new design measures can address previous concerns about environmental integrity. Adipic acid is a key ingredient in the production of nylon and other materials. Carbon credits were previously banned by the European Union Emissions Trading System (EU ETS) due to concerns about the integrity of the offset program.
The draft protocol aims to address these concerns by implementing new measures, such as a comprehensive data collection system and strict verification procedures. CAR argues that these measures will ensure the accuracy and credibility of the carbon credits generated through the offset program.
The publication of the protocol comes at a time when there is growing interest in carbon offset projects in China. The country is the world’s largest emitter of greenhouse gases, and many companies and governments are looking for ways to reduce their emissions. Carbon offsets, which involve investing in projects that reduce emissions elsewhere, can be a cost-effective way to achieve these goals.
However, there have been concerns about the environmental integrity of some offset projects, particularly in countries like China where the regulatory framework may not be as robust. The EU ETS banned the use of Chinese carbon credits ten years ago due to concerns about the accuracy and transparency of emissions data.
CAR’s draft protocol aims to address these concerns by implementing strict rules and procedures for data collection and verification. The protocol also includes provisions for risk management and quality assurance. CAR believes that these measures will ensure the integrity of the offset program and restore confidence in Chinese carbon credits.
The release of the draft protocol is an important step towards the development of a robust carbon offset program in China. It demonstrates the country’s commitment to addressing concerns about environmental integrity and providing credible carbon credits for use in international markets.
CAR is now seeking feedback on the draft protocol from stakeholders and experts in the field. The final version of the protocol will be released later this year, following a review of the feedback received. Once implemented, the protocol has the potential to unlock a significant amount of carbon offset projects in China and contribute to global efforts to reduce emissions.