China to unveil green certificates

BEIJING: China will launch the trading of green certificates for solar and wind power on July 1 in a bid to help reduce government subsidies to the renewables sector, the National Development and Reform Commission (NDRC) said on Friday.

In a pilot program, the NDRC said solar and wind producers would be issued tradeable certificates, proving that electricity has been generated through renewable energy sources.

Renewable energy users such as private and state businesses would be encouraged to buy the certificates, which would then entitle them to an unspecified payment.