In the recently-held 2023 East Asia Marine Cooperation Platform Qingdao Forum, the Executive Committee of the Forum and Qingdao Dongji Marine Industry Co., Ltd. entered into a marine carbon sink trading agreement to offset greenhouse gas emissions in the forum. This is the first marine carbon sink transaction in Shandong Province, and the first time that carbon neutrality has been achieved in an ocean-themed forum held in China by way of marine carbon sink trading.

Stretching the role of the sea in carbon emission reduction and fixation is an important trial approach of Qingdao to help realize “carbon peak and carbon neutrality”. Qingdao, home to many ocean-related sci-tech research institutes and marine professionals, continues to make progress in basic theoretic research, standard measuring system, etc. China’s first comprehensive marine carbon sink calculation standard and China’s first carbon sink measuring standard in the shellfish and algae industry are among the achievements. Qingdao excels notably in leveraging the role of marine industry, in particular fishery, in carbon emission reduction. To date, Qingdao boasts of 21 national level demonstration marine ranching areas, representing almost one eighth of China’s total and pacing a solid foundation for marine fishery carbon sink.  (Li Xunxiang)

On June 1, China’s first 1mt-level demonstration project for marine carbon sequestration in Qingdao is put into operation.