The First Chinese Standard for Voluntary Greenhouse Gas Offset

Originally published 10 February 2010

Keywords: China, PRC, reduce carbon intensity, CBEEX, GHG offset, BlueNext, Panda Standard

On 26 November 2009, the State Council of the People's Republic of China announced that the PRC pledged to voluntarily reduce its carbon intensity at 40 percent - 45 percent per unit of gross domestic product by 2020 against 2005. As the first step to move towards a low carbon society in line with the national policy, the China Beijing Environment Exchange ("CBEEX") officially released the first standard for voluntary greenhouse gas ("GHG") offset entitled "Panda Standard Version 1.0" on 16 December 2009 at the Copenhagen Convention. The principal founders of the Panda Standard are CBEEX, the BlueNext (Europe's largest carbon credits exchange) and the China Forestry Exchange.