Launched in 2009. Currently active but no projects yet (as of 1/2011).
Market Size and Scope
Offset Project Eligibility
Additionality Requirements and Project Methodologies
Project Approval Process
Type of Standard and Context
The Panda Standard is the first voluntary carbon standard designed specifically for China. The China Beijing Environment Exchange (CBEEX) and BlueNext, and Winrock International founded the Panda Standard. Version 1.0 of the standard was launched at COP 15 in Copenhagen in December 2009:
" The Panda Standard effort will support the commitment of the People's Republic of China Government to reducing the greenhouse gas (GHG) emissions intensity of its economy, help develop national capacity in domestic voluntary carbon markets, and, as a first focus, promote Agriculture, Forestry and Other Land Use (AFOLU) GHG offset projects with significant poverty alleviation benefit."
Standard Authority and Administrative Bodies
- The Panda Standard Board is the executive body of the Panda Standard Association that is responsible for making and driving its strategy. It is composed of the founders and co-founders of the Panda Standard as well as external representatives (national authorities, international organizations, non governmental organizations, research institutions etc).
- The Panda Standard Secretariat is the administrative body of the Panda Standard Association. It is responsible for the various administrative tasks required along the project lifecycle and is, as such, the link between the Board, the Technical Committee, the Registry, and the project proponents.
- The Panda Standard Technical Committee is the expert body of the Panda Standard Association. It is a pool of internal and external experts, both international and domestic, that are responsible for approving project registration as well as any new methodology, tool or procedure that project proponents may submit to the Secretariat.
- The Panda Standard Advisory Committee is the
consultative body of the Panda Standard Association. It is a pool of external experts, both
international and domestic, from various organizations involved in the carbon markets.
It is responsible for reviewing the periodic revisions to the present document, Panda Standard Sectoral Specifications and any publications of the Panda Standard Association that will be issued to project proponents.
Recognition of Other Standards/ Linkage with Other Trading Systems
Tradable Unit and Pricing Information
Chinese VER buyers.
Current Project Portfolio
First pilot project launched in 2010.
The initial focus of the Panda Standard is AFOLU projects in high‐priority poverty alleviation regions.
People’s Republic of China.
Eligible projects will generally have a start date no earlier than January 1, 2005. However,
Agriculture, Forestry and Other Land Use (AFOLU) projects will be evaluated on a case-by-
In general 7 years, renewable twice (total 21 years). For AFOLU projects, the crediting period for each type of activity will be detailed in the relevant Panda Standard Sectoral Specifications.
Co-benefit Objectives and Requirements
Overall, eligible project activities must deliver net-positive quantifiable and qualifiable
socio-economic and environmental benefits.
Specific guidelines for assessing and monitoring relevant environmental and social benefits will be developed by the Panda Standard.
Proof of additionality must be based on a project-specific assessment that demonstrates the project faces one or several barriers to implementation --investment, technological or prevailing practice impediments-- which can be addressed through the generation of Panda Standard credits.
Projects must alsoexceed regulatory/legal requirements and go
beyond common practice for the industry sector and/or geographic region in which the
project takes place.
Projects using the performance standard approach to additionality must also exceed regulatory/legal requirements.
Existing independent assessment tools for additionality, or performance standards,
under other mandatory or voluntary programs which are approved under the Panda
Standard, will be defined separately in each Panda Standard Sectoral Specifications.
Standard requires project proponents to assess, account for, and mitigate leakage.
Existing baseline and monitoring methodologies under other mandatory or voluntary programs will be evaluated and approved by the Panda Standard.
Project proponents can propose ne methodologies or performance standards. Proposed new baselines and monitoring methodologies or performance standards, as
well as any specific tools or procedures must be approved by the Technical Committee.
Validation and Registration
Validation must be performed by an independent Third Party Auditor that subsequently requests registration of the project to the Secretariat. At least one on-site visit by a Third Party Auditor is required at validation and for each verification.
The Panda Buffer Pool will ensure the permanence of credits generated from registered Panda Standard projects that maybe subject to the risk of reversal.
Monitoring, Verification and Certification
Verification must be performed by an independent Third Party Auditor that subsequently requests
issuance of credits by the Secretariat, based on the verified GHG emissions reduced or
removed by the project activity. Verification of registered Panda Standard projects must
be performed at least every five years, as well as at any application for renewal of a
project’s crediting period, as well as at any application for renewal of a project’s crediting
Registries and Fees
The Panda Registry is currently under development.