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February 20, 2024

China gears up to lead VCM reform

Tianjiao Green Energy Photovoltaic Project in Ordos, China. Four methodologies have been approved under the country’s VCM: solar thermal power, forestation, mangrove cultivation, and grid-connected offshore wind projects.  (Photo: Qilai Shen/Bloomberg)
Tianjiao Green Energy Photovoltaic Project in Ordos, China. Four methodologies have been approved under the country’s VCM: solar thermal power, forestation, mangrove cultivation, and grid-connected offshore wind projects. (Photo: Qilai Shen/Bloomberg)

Beijing is taking steps to bring its voluntary carbon market in line with Paris Agreement commitments

China is overhauling its voluntary carbon market to meet international standards, accelerating the government’s drive towards net zero climate targets and opening the door for cross-border trading opportunities.

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