China to Enhance Green Certificate Market Mechanism

On April 27, the National Energy Administration (NEA) of China held a press conference. According to Jin10, Pan Huimin, Deputy Director of the New Energy Department at the NEA, announced plans to improve the market trading mechanism for green certificates. The NEA aims to refine the price formation mechanism for green certificates, develop a price index, and release it to the public to stabilize corporate expectations regarding green certificate prices. The initiative also includes expanding the consumption scale of green certificates and implementing the requirements of the Energy Law of the People's Republic of China. This involves establishing a minimum consumption target system for renewable energy to encourage key energy-consuming industries to lead in green electricity consumption. Additionally, the NEA plans to promote initiatives such as 'green cars charging with green electricity' and retail green electricity packages for residents, fostering a proactive green consumption environment across society.