Interim Measures for the Administration on the Transactions of Voluntary Greenhouse Gas Emission Reduction.

These Interim Measures are formulated in order to encourage voluntary greenhouse gas emission reduction transactions based on projects and guarantee the orderly implementation of relevant transactions. The text consists of 31 Articles divided into 7 Chapters: General provisions (I); Voluntary emission reduction project management (II); Projects’ emission reduction management (III); Emission reduction trading (IV); Accreditation and verification management (V); Supplementary provisions (VI).
Voluntary greenhouse gas emission reduction transactions shall be conducted under the principles of openness, fairness, impartiality and good faith, and emission reductions in transactions shall be based on specific projects, and be truthful, measurable and additional(art.3).
The National Development and Reform Commission (“NDRC”) shall take charge of voluntary greenhouse gas emission reduction trading. Voluntary greenhouse gas emission reduction transaction projects shall be validated by the validation agencies with the methodologies filed at the NDRC. Domestic and foreign institutions, enterprises, organizations and individuals which have qualified projects filed and registered with NDRC are entitled to participate in voluntary greenhouse gas emission reduction transactions. The emission reductions generated by the qualified projects shall be certified by the qualified certification agencies. The certified emission reductions filed and registered at NDRC may be traded, and the transactions shall be conducted in the trading institutions filed at NDRC.
The Interim Measures further specify application procedures of new methodologies and qualification accreditation procedures for the validation and certification agencies.