China approves controversial nitrous dioxide carbon offsets
BEIJING (REUTERS) - China will allow big emitters to use offset credits from nitrous dioxide (N2O) destruction to meet domestic climate targets, giving its nod to a type of project that has been banned in other carbon markets.
The National Development and Reform Commission (NDRC) published on Wednesday a list of more than 120 new types of projects eligible to earn carbon credits that can be sold to power generators and manufacturers facing emission caps under China's fledgling carbon markets.
The list included destruction of N2O emissions from the production of adipic acid, a component in nylon, sparking concerns that the market might be flooded with "junk" offsets with limited or no environmental value.
"China should ban the use of credits from industrial gas projects, or discount their value," said Lin Jiaqiao with Beijing-based Greenovation Hub.