Zhoushan in East China's Zhejiang province recently released the Technical Specification for Accounting Value of Ecosystem Product (VEP) in Specific Geographic Unit in Coastal Zone.

This represented the first municipal-level standard in China for VEP calculations in a coastal zone, according to Qiu Xiaolan, deputy director of Zhoushan's development and reform commission.

"The VEP calculation results are essential for ecological impact assessments, green financing, and ecological rights trading," said Jiang Chengzhi, director of the rural economy office at Zhoushan's development and reform commission.

A bird's-eye view of marine ranches in Shengsi county, Zhoushan. [Photo/Tide News]

Recognizing the need for a marine-specific standard, Zhoushan collaborated with expert teams from leading institutions over three years to develop the comprehensive guidelines.

The standard categorizes ecosystem products into provisioning products, regulatory services, and cultural services, covering both terrestrial and marine ecosystems. Provisioning products include agricultural, forestry, fishery products and marine biological raw materials, as well as energy sources like hydropower and wave energy.

In practice, the standard has already shown its value. Shengsi county in Zhoushan used VEP calculations to clarify the carbon sequestration and emissions of a mussel farm there – leading to the creation of a mussel carbon trading model.

The county facilitated Zhoushan's first marine carbon sink project agreement. The proceeds are supporting the tech innovation, marine ecological protection, and industrial development of mussel farming.