China Poised for Panda Standard Pilot and Sectoral Progress

9 December 2010 | CANCUN | “China Blossoming” was the title of one side event benchmarking China’s carbon market position at the UNFCCC’s 16th Conference of Parties (COP16). It’s an accurate description of Cancun’s Chinese delegation, which arrived bearing news of significant progress on domestic voluntary mechanisms and provincial programs – including a pilot project and sectoral specifications under the Panda Standard for voluntary carbon offsets.

While some described China’s Copenhagen delegation as “cagey” and “uncompromising,” the new face of China is markedly more open and willing to talk shop in order to glean lessons from other nations’ market experiences.

“No matter what happens in Cancun, the low-carbon approach is the only way we can cope,” said Junfeng Li, Deputy Director-General for the National Development and Reform Commission’s Energy Research Institute.

“There’s no other choice – but we do not know how to make the best approach,” he added. “That’s why we came here, to try to communicate with everyone and find the good technical solutions to make real change.”

Li joined leaders ranging from the provincial to the national level, as well as Chinese business representatives, in the first ever Chinese delegation to appear together in support of international climate talks. At the Climate Group’s China Day, they called for technical and financial support from the international carbon community.

Yet, China is soon to accrue benefits from its cooperation with European carbon market players via the Panda Standard, a China-specific voluntary carbon offset standard initially focused on agriculture, forestry and land use (AFOLU) emissions and poverty alleviation.

"As a significant token of Sino-French cooperation on rural carbon finance, the French Global Environment Fund (FFEM) will provide a 1 million euro subsidy and work alongside the Administrative Centre for China's Agenda 21 (ACCA21) to craft the PS-AFOLU bamboo reforestation methodology."

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2 posted on 12/10/2010 8:53:37 AM PST by wheresmyusa (FTUN)

Does this mean there will be miniature and giant Panda standards, or just the one, standard Panda standard? /s

This from a country that’s opening 1 coal plant per week as I type?

3 posted on 12/10/2010 11:38:13 AM PST by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto.)

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