On December 18, 2023, the Wuhan Carbon Inclusion Registration Platform registered the first phase of carbon inclusion emission reduction projects (only 2 units) issued by the Wuhan Municipal Bureau of Ecology and Environment, with a total emission reduction of 7,609 tons, among which the "Wuhan GEM Urban Mineral Recycling Industrial Park Distributed Photovoltaic Power Generation Project" declared by GEM was approved for publication and registration with a carbon inclusive emission reduction of 4,269 tons. The carbon emission reductions registered on the carbon inclusion platform can be used by major emitters in Wuhan to offset their carbon emissions by 2022. This signifies that the low-carbon behavior and voluntary emission reduction projects of Wuhan residents and local business that meet the methodological requirements can be officially formed into carbon assets.
The carbon trading market is a key institutional innovation to promote green and low-carbon development. It is of great significance in addressing climate change. It is an important platform and market mechanism for China to actively implement the national strategy of addressing climate change and realizing the "dual carbon" goal.
As a member of the United Nations Global Compact (UNGC), GEM embraces the industrial foundation of "New Energy Material Manufacturing + Urban Mining", and promotes the goal of carbon neutrality through the establishment of resource cycle models and clean energy material models. Since the launch of the national carbon market, GEM has been actively exploring the development of carbon assets, forming a series of research and planning led by the headquarters, combined with the characteristics of the carbon market in various provinces and cities and regions of GEM to carry out targeted development of carbon assets, and through the effective use of carbon financial services for the physical economy, to achieve low-carbon development, green development and sustainable development.
GEM Wuhan Low Carbon Park focuses on photovoltaic power generation, the use of clean energy, the promotion of energy structure transformation, the development of carbon reduction in industrial production, resource recycling, environmental protection, the development of carbon sinks in green fields, and the promotion of low-carbon travel and low-carbon lifestyles, among others. In addition, it also creates pilot projects for net zero carbon emission parks and promotes the park's goal of achieving low-carbon development with net zero carbon dioxide emissions.
In the future, GEM will actively promote the construction of the national carbon market from the Group's strategic position, participate in the writing of greenhouse gas emission reduction methodology, explore more feasible participation modes in the carbon market, and GEM will continuously convey to the world the responsibility and commitment of Chinese enterprises in accelerating the development of green and low-carbon transformation and the construction of global climate governance system, in order to help realize the goal of global carbon neutrality.
GEM's First Carbon Inclusive Emissions Reduction Published and Registered