Beijing, April 13, 2018 – Today the United
Nations Development Programme (UNDP) China Office launched a long-anticipated
methodology to include hydrogen applications in carbon trading. The
methodology, targeting the applications of fuel cell technologies in the
transportation and “combined heat and power (CHP)” sectors, was developed under
the China Hydrogen Economy Pilot Project in Rugao of Jiangsu Province,
collaboratively operated by UNDP, China International Center for Economic and
Technical Exchanges (CICETE) of the Ministry of Commerce, and Rugao Economic
and Technological Development Zone.
During the event, Shanghai Treasure Carbon explained the outcomes of the
methodology development, which will serve as a quantitative reference to make
emissions reductions brought by fuel cell adoption in the transportation and
CHP sectors tradable in the carbon market. The necessity and enormous potential
of the development was affirmed by Prof. Wei Zhihong, a former methodology
committee member of the United Nations Framework Convention on Climate Change
(UNFCCC) Clean Development Mechanism Audit Council. Industry experts from
Shanghai Environment and Energy Exchange, China Beijing Environment Exchange,
and China Emission Exchange shared their insights on the carbon trading market
and on carbon finance, where hydrogen will have a role.
Along with the Ministry of Science and Technology (MOST), UNDP China has
been working on the development of hydrogen fuel cell vehicles
(FCVs) since 2003 with the support of the Global Environment Facility
(GEF). FCV’s are electric vehicles that use fuel cells to power its motor. In
2016, UNDP China and its partners together moved the project onto phase III to
facilitate the commercialization of FCVs, hence accelerating emissions
reduction in the transportation sector of China. During the same year, UNDP
worked with CICETE to start the first Chinese hydrogen economy pilot project
in Rugao, aiming to turn hydrogen into a dominant energy source to fuel
the Chinese economy.
UNDP has been committed to promoting the implementation and localization
of the Sustainable Development Goals (SDGs) since 2015. The new methodology
development will greatly facilitate the implementation of the SDG of Climate
Action (SDG#13) by providing a quantitative method for fuel cell technologies
to contribute to emissions reductions. The hydrogen economy pilot project will
serve as a catalyst for hydrogen energy commercialization to bring forth the
realization of the SDGs of “Adorable and Clean Energy” (SDG#7) and “Sustainable
Cities and Communities” (SDG#11).
In the future, UNDP will continue to contribute to the development of
hydrogen economy and clean energy, facilitate China’s economy transformation
and energy reform, and reduce carbon emissions in accordance with the 17 SDGs.