China passes 500 mark for clean energy projects

subscribe

China, the world's top greenhouse gas polluter, has passed a milestone in the number of U.N.-backed clean energy projects, with the world body approving more than 500 such schemes so far.

China has the highest number of such projects, which yield tradable carbon credits for investors in wind farms, solar power, small hydro, biomass or cleaning up planet-warming industrial gases.

The scheme, called the clean development mechanism (CDM), is part of the Kyoto Protocol climate pact and aims to help developing countries shift to low-carbon economies and also help rich nations offset their emissions by buying the carbon credits.

Each offset, called a certified emission reduction (CER), represents a tonne of greenhouse gas pollution saved from being emitted.

China now has 501 such projects registered, followed by India at 411 and Brazil with 156. Globally, the United Nations has approved 1,539.

Many of China's registered projects are in hydro and wind power, with others designed to capture methane from coal mines, landfills and agricultural waste.

Hundreds more Chinese projects are in the pipeline awaiting formal approval by the United Nations.

To date, approved Chinese CDM projects have been issued with 119,400,810 CERs, representing more than 40 percent of the total issued to date globally by the United Nations, but still a fraction of China's overall greenhouse gas emissions.

Related News

ieso

New Electricity Auctions Will Drive Down Costs for Ontario's Consumers

TORONTO - The Independent Electricity System Operator (IESO) is introducing changes to Ontario's electricity system that will help save Ontarians about $3.4 billion over a 10-year period. The changes include holding annual capacity auctions to acquire electricity resources at lowest cost that can be called upon when and where they are needed to meet Ontario electricity needs. 

Today's announcement marks the release of a high level design for future auctions, the first of which is set to be held in late 2022.

"These auctions will specify how much electricity we need, and introduce a competitive process to determine who can meet that…

READ MORE
hydro one

New Hydro One CEO aims to repair relationship with Ontario government — and investors

READ MORE

alberta-path-to-clean-electricity

Alberta's Path to Clean Electricity

READ MORE

china electric bus

Why electric buses haven't taken over the world—yet

READ MORE

powerlines

US Electricity Market Reforms could save Consumers $7bn

READ MORE