Last week, China came out with a dramatic new policy on green certificates, radically reforming what had been a sleepy aspect of the clean energy transition in China. We don't usually do breaking news here on Environment China, but it happens that our co-producer, Anders Hove, has just published a paper on the topic as well as a short reaction article to the new policy. (Links below.)

The new green certificate policy, issued by the National Development and Reform Commission, Ministry of Finance, and National Energy Administration, expands China's domestic renewable energy certificate scheme from onshore wind and solar to all types of renewables. The expansion means that all renewable projects will now be able to generate Green Electricity Certificates, or GECs, though only some will be traded. The policy reforms how GECs are priced and it also bans domestic generators from selling international renewable energy certificates to prevent double counting. 

Further reading:

Anders Hove and Gary Sipeng Xie, "Green certificates with Chinese characteristics: Will green certificates help China’s clean energy transition?" Oxford Institute for Energy Studies, 8 August 2023, at https://a9w7k6q9.stackpathcdn.com/wpcms/wp-content/uploads/2023/08/CE9-Green-certificates-with-Chinese-characteristics.pdf.

Anders Hove, "After China's new green certificate policy, major questions remain," Oxford Institute for Energy Studies (LinkedIn article), 11 August 2023, at https://www.linkedin.com/pulse/after-chinas-new-green-certificate%3FtrackingId=ZOupiyoVR1GeYGktG%252BCJjw%253D%253D/?trackingId=ZOupiyoVR1GeYGktG%2BCJjw%3D%3D.