Research on the Market-Oriented Construction of China's Blue Carbon Value Realisation: Mechanisms, Obstacles, and Pathway Innovations

Abstract

 In recent years, blue carbon has opened up a new frontier for global efforts to address climate change, protect biodiversity, and achieve sustainable development. It is regarded as a strategic resource supporting the implementation of the Paris Agreement and provides an important option for ‘Nature-based Solutions’. China possesses abundant blue carbon resources, and the national ‘Dual Carbon’ strategy has provided significant policy drivers for blue carbon development. However, the development of China's blue carbon market remains in its early stages, characterised by project-based and pilot initiatives, and the market-based realisation of blue carbon value still faces institutional barriers. This study argues that the realisation of blue carbon value is no longer a conceptual idea. Blue carbon possesses comprehensive service value, and its value can be most effectively realised through marketisation. Contemporary technological advancements have created the conditions for blue carbon transactions. The marketisation of blue carbon value requires systematic institutional design, particularly focusing on mechanisms for defining blue carbon property rights, standard certification, transaction operations, and market supervision. Addressing the primary obstacles to the marketisation of blue carbon value in China, this study proposes four pathways: first, strengthening systematic legislation to establish a solid institutional foundation; second, developing a multi-tiered blue carbon market to stimulate market dynamics; third, promoting diversified blue carbon financial innovations to activate blue carbon assets; and fourth, strengthening international technical cooperation to advance the integration of blue carbon production and research. It is hoped that this research will contribute to realising the value of China's blue carbon, while providing more diverse references and recommendations for global climate change mitigation and the achievement of sustainable development goals.