Can blockchain work in climate policy? China may use immutable records in green power trading pilot plan as transactions kick off

The scheme will be led by the National Development and Reform Commission (NDRC), and the power distributors State Grid and China Southern Power Grid. A trading centre in Beijing and another one in Guangzhou will be established under the plan. — SCMP

China has launched a pilot trading scheme for renewable electricity to allow carbon dioxide emitters to partly offset their footprint through direct purchases of green power from generators, with blockchain technology likely to be deployed.

The initiative, which will provide financial support to generators, is part of Beijing’s plan to mobilise the major emitters of greenhouse gases to help achieve the nation’s twin climate goals, for carbon emissions to peak before 2030 and to achieve net zero emission by 2060.