China’s first blue carbon trading certificate issued in Fuzhou

On June 3, China’s first blue carbon trading certificate registered with the marine fishery authority and approved by the competent authority for carbon sink transaction was issued in the Marine (Fishery) Carbon Sink Summit Forum held in the Fuzhou Straits International Conference and Exhibition Center.

Green carbon is defined as the absorption of carbon dioxide by plants, while the absorption of carbon dioxide by marine activities and marine lives (for example algae such as kelp) is called marine carbon sink (also named blue carbon). Carbon sinks of both the two types are tradable, a key approach to realizing carbon neutrality.

How much is this blue carbon trading certificate worth? Reportedly, the certificate involves a close to 172 hectares blue sea area, representing a carbon emission reduction of 27,456 tons and generating a carbon transaction amount of RMB217,000.

The issuance of the blue carbon certificate epitomizes the strategy of developing marine economy in Fuzhou. As early as 1990s, President Xi Jinping, who then worked in Fuzhou, had personally drawn up a grand blueprint for Fuzhou’s marine economy. Over the recent years, Fuzhou has striven to lead blue and low-carbon development, acted as a “pacesetter” persistently in improving the value fulfillment mechanisms for blue and ecological products, and pioneered blue carbon in many aspects from development, calculation transaction to law enforcement. To name a few, Fuzhou concluded China’s first marine fishery carbon sink transaction and released China’s first marine fishery carbon sink construction system.  (Zheng Ruiyang)