China's Voluntary Carbon Market: Opportunities and Challenges from The CCER Relaunch

Abstract

Given the severity of global climate change and the urgency of carbon emission control tasks, the restart of the China Certified Emission Reduction (CCER) mechanism has garnered significant attention. This paper analyzes the impact and challenges associated with the CCER’s relaunch on domestic stakeholders. The study focuses on the innovations and operations of the CCER market mechanism, comparing it with the international Clean Development Mechanism (CDM) to highlight similarities and differences. Utilizing literature review and case analysis methods, this research explores how CCER drives investment in clean energy, stimulates technological innovation, and increases demand for carbon management services. The findings indicate that CCER not only offers enterprises flexible and diverse carbon reduction pathways but also incentivizes increased investment in clean energy technologies through market mechanisms, supporting the transition of industrial structures towards a green and low-carbon economy. Thus, the paper concludes that the restart of CCER represents a significant milestone in China's efforts to combat climate change and promote green, low-carbon development.