Beijing to complete first hydrogen-based carbon trading in September

BEIJING -- As a hydrogen-based project that can partake in the carbon market trading, the Beijing hydrogen fuel cell vehicle carbon emission reduction project was launched in Beijing's Daxing district on Thursday.

The project is estimated to be able to slash about 24,000 tonnes of carbon emissions annually and is expected to complete the city's first hydrogen-based carbon trading this September.

Zhonghe Xinxing (Beijing) energy technology research institute Co., Ltd. developed the project in cooperation with 16 hydrogen enterprises, and the project will complete its carbon accounting and trading through the carbon-inclusive operation mechanism.

Yu Jianhua, deputy director of the Beijing Municipal Bureau of Ecology and Environment, said the transportation sector is an important source of carbon emissions.

Vehicles powered by hydrogen fuel cells can replace conventional heavy-duty diesel vehicles, thus providing a new solution for energy efficiency and carbon reduction, the official added.

In recent years, Beijing has strived to promote and support the development of the hydrogen and fuel cell vehicle industry, with the promotion scale of fuel cell vehicles exceeding 1,800. The application scenarios of most of these vehicles include the city's cold-chain logistics, commuting and passenger transportation in the tourism sector.