One of the main objectives of the Shanghai World Expo is to offset the carbon emissions generated from the construction and operation of the pavilions. All of the pavilions that choose to participate in the VER action will be publicly listed on the World Expo VER platform. The Enterprises can choose to buy, donate or retire their VERs through the Shanghai Environment and Energy Exchange trading platform. They can choose to offset their carbon emissions through buying carbon emissions of other pavilions to help offset and achieve their own carbon neutral status.
Type of Projects on the Platform
Type A: To offset the carbon emissions of pavilion construction and demolition.
Type B: To offset the carbon emissions of pavilion operation, including the emissions by individual visitors.
Quantity Identification on Emissions
Option 1: The platform provides an approximate figure of the amount of emissions.
Option 2: Pavilions (or enterprises) entrust a third party to calculate the quantities of emissions.
Pricing Mechanism
- There are two ways of deciding the VER price: price bidding and price negotiation;
- A reference price will be provided by the platform and after the bidding and negotiating process is completed by the buyers and sellers, a fixed price will be determined.
Related Payments
- During the process of the VER action, the World Expo VER platform will not charge fees.
- Additional payment to a third certification body will be made if the pavilions request the third party to calculate their emissions.
VERs Retirement
- After the purchase of VERs, the buyers (enterprises) need to donate them to pavilions, and the ownership of VERs will be changed to the Pavilions. These VERs donated by enterprises will then be written-off by an internationally recognized registration system.
- The fees for VERs retirement will be paid by VER sellers, and the whole process of VERs retirement will be monitored by the World Expo VER platform.
Registration System
All transaction information during the transaction process will be recorded on the platform registration system by the Shanghai Environment and Energy Exchange. This will include: the name of the pavilions, the VER providers, the VER buyer and the quantities of VER.
|