关键词: 漂绿, 自愿碳市场, CCER, 信息披露, 监管机制

Abstract: The voluntary carbon market serves as a crucial tool for guiding the allocation of climate finance. However, in recent years, it has faced a credibility crisis due to frequent greenwashing incidents. China’s CCER market, which was relaunched in 2024, is currently in its early stages of development. It is imperative to address the risks of greenwashing and improve the relevant institutional design. Existing attention to greenwashing in the voluntary carbon market remains limited, largely confined to evaluations of carbon credit projects or deceptive green marketing by credit buyers, lacking a systematic analysis of greenwashing behavior. This paper establishes a comprehensive analytical framework for greenwashing in the voluntary carbon market, systematically dissecting the motivations and behavioral patterns of various stakeholders. It finds that greenwashing not only exists within individual entities but also becomes more covert and harmful through collusion among multiple stakeholders. The paper identifies the institutional deficiencies underlying greenwashing in the voluntary carbon market and, drawing on domestic and international countermeasure experiences, puts forward targeted policy recommendations. The aim is to promote the high-quality development of China's CCER mechanism, realize the dual-engine model for China's carbon market, and contribute Chinese wisdom and solutions to global carbon market.

Key words: Greenwashing, Voluntary Carbon Markets, CCER, Information Disclosure, Regulatory Mechanisms