The "Opinions on Promoting the High Quality Development of the Renewable Energy Green Power Certificate Market" recently issued by the National Development and Reform Commission and five other departments (hereinafter referred to as the "Opinions") clarify that by 2027, the market trading system for green certificates (referring to renewable energy green power certificates) will be basically improved, the green power consumption mechanism combining mandatory and voluntary consumption will be more sound, the accounting, certification, labeling and other systems for green power consumption will be basically established, the connection between green certificates and other mechanisms will be smoother, the potential of the green certificate market will be accelerated, the international application of green certificates will be steadily promoted, and the smooth flow of green certificates nationwide will be achieved. Experts believe that the "Opinions" have constructed a complete chain of "dual force of supply and demand - market mechanism improvement - domestic and international dual circulation" through policy "combination punches", which will help fully stimulate the demand for green electricity consumption, release the vitality of the green certificate market, and have significant implications for promoting the high-quality development of renewable energy with greater efforts and better assisting the comprehensive green transformation of economic and social development. Establish a stable green certificate market supply and establish a monthly batch automatic issuance mechanism for green certificates. Green certificates are electronic certificates with special identification issued by the government or third-party organizations to green power. The green certificate information includes basic project information and power generation information, which can accurately trace green electricity and correspond one-to-one with renewable energy electricity. It is a standardized tool for proving the environmental attributes of green electricity. In terms of supply, the Opinion requires timely and automatic issuance of green certificates. Accelerate the filing and certification of renewable energy power generation projects, and in principle, complete the filing and certification of grid connected projects from the previous month in the same month. Strengthen the technical support for the functions of the national green certificate issuance and trading system. Based on the monthly settlement electricity of registered renewable energy generation projects provided by power grid enterprises and electricity trading institutions, green certificates will be automatically issued in batches on a monthly basis. In principle, the green certificates corresponding to the previous month's electricity will be issued in the same month. Chen Tao, Director of the Qualification Center of the National Energy Administration, stated that in the next step, the National Energy Administration will follow the principle of pilot first and step-by-step implementation, and carry out pilot work from five aspects: filing and certification of distributed power generation projects, electricity measurement, data collection, green certificate issuance and transfer, etc., summarize and form the filing and certification process applicable to distributed power generation projects, study and clarify the management standards for the issuance of green certificates for self use electricity of distributed power generation projects, and lay the foundation for the full coverage of green certificate issuance for distributed power generation projects. In addition, we will improve the verification mechanism for green certificates and support the cross provincial circulation of green certificates. The Opinion proposes to promote the reasonable circulation of green certificates nationwide, and no region shall restrict the trading area of green certificates in any way. Support both parties to independently participate in green certificate trading or green electricity trading, and promote the optimization of green certificate configuration on a larger scale. The mechanism design of combining mandatory and voluntary consumption to stimulate the demand for green certificates has been basically established, and the connection with other related mechanisms has been further streamlined. Han Xue, Deputy Director of the Energy Policy Research Office at the Resource and Environmental Policy Research Institute of the Development Research Center of the State Council, believes that the next step is to improve policy measures at all stages, so that the green certificate mechanism can play its expected role. Therefore, it is necessary to further stimulate effective demand, improve the trading mechanism, and ensure that the price of green certificates can gradually reflect their due value. In terms of stimulating the demand for green certificate consumption, the relevant person in charge of the National Energy Administration introduced that the core is to build a green certificate consumption mechanism that combines mandatory and voluntary consumption, and accelerate the promotion of green certificate consumption. On the one hand, clarify the mandatory consumption requirements for green certificates, gradually increase the proportion of green electricity consumption, and use green certificates for accounting; On the other hand, establish a sound mechanism for voluntary consumption of green certificates and expand the scenarios for voluntary consumption of green certificates. Compulsory consumption guarantees basic consumption responsibilities through policies, while voluntary consumption stimulates green transformation momentum through market mechanisms Huang Bo, professor of the School of Finance of Renmin University of China and president of Beijing ESG Research Institute, said that the combination of compulsory consumption and voluntary consumption constitutes a multi-level consumption system of renewable energy, which not only guarantees the basic foundation of green power consumption, but also will stimulate enterprises and society to actively participate in green transformation, providing a strong guarantee for high-quality development of the renewable energy industry. Duan Maosheng, Deputy Director of the Institute of Energy and Environmental Economics at Tsinghua University, also believes that expanding the effective demand for green certificates is the most core and challenging task in the high-quality development of the green certificate market. Effectively expanding market demand helps to achieve a dynamic balance between supply and demand in the green certificate market, thereby achieving reasonable and stable green certificate prices, improving the economic indicators of renewable energy generation projects, and further effectively promoting the development of the renewable energy industry. The Opinion on Promoting the Global Application of Green Certificates to Enhance the "Green Content" of Export Trade Products proposes to promote the internationalization of green certificate standards, strengthen international exchanges and cooperation, and enhance policy promotion services. Li Chuangjun, Director of the New Energy Department of the National Energy Administration, introduced that currently, the carbon emissions of China's power industry account for over 40% of the total social carbon emissions. Reducing the carbon footprint of products through the consumption of green electricity has become the main carbon reduction path for export enterprises. China is the world's largest producer of green electricity, and issuing green certificates for all renewable energy generation can meet the demand for green electricity for export products. Overall, green certificates have a good foundation for the greenization of service export trade. Against the backdrop of global efforts to address climate change and promote green and low-carbon transformation, if breakthroughs can be made in the construction of international mutual recognition mechanisms, it will not only promote the development of green industries, but also stimulate the demand for green electricity and green certificates among all domestic manufacturing enterprises, and achieve an improvement in the sustainable development capacity of the entire industry chain Huang Bo said. Li Chuangjun stated that the "Opinions" propose policy measures from five aspects: green certificate supply, green certificate consumption, transaction mechanism, application scenarios, and "going global" to better serve enterprises in purchasing and using green certificates, and enhance the "green content" of export trade products. (New Society)