CHONGQING (CQNEWS) -- The Chongqing Urban Public Transportation Emission Reduction Scheme, developed by Energetic New Energy Technology of Chongqing City Transportation Development & Investment Group, has recently completed its first Chongqing Certified Emission Reduction transaction (CQCER) on Chongqing Assets and Equity Exchange (Chongqing Carbon Emission Rights Trading Center), according to Chongqing City Transportation Development & Investment Group.

The greenhouse gas emission reductions upon this transaction are approximately 167,000 tons, with a transaction value of over CNY6 million. It is the first certified emission reduction transaction of low-carbon public transport in China, representing that the public transport sector of Chongqing has made a solid step forward on the path of carbon emission reduction and green development.

Carbon trading is a market-oriented mechanism to promote green and low-carbon development. CQCER is a specific ‘solution’ for the implementation of carbon trading in Chongqing, which certifies the emission reduction of enterprises in green buildings, green transportation, forest carbon sinks, and other related fields, and converts emission reduction into carbon assets through carbon trading. (Translated by Yuki, Fathom Language Limited)