HKEX Launches International Voluntary Carbon Trading Platform

HKEX Launches International Voluntary Carbon Trading Platform

BY  
Seneca ESG  
- November 3, 2022

Hong Kong Exchange and Clearing Limited (HKEX) started its first voluntary carbon credit trading platform, Core Climate, to support a transition to net-zero emissions, as reported by South China Morning Post on October 28. Core Climate allows participants to source, hold, trade, settle, and retire credits sourced from certificated carbon projects across the world, including carbon avoidance, reduction, and removal projects. All credits listed on the platform will be verified according to international standards such as Verra’s Verified Carbon Standard (VCS), the world’s most widely used voluntary carbon offset verification program. The platform allows settlement in both Hong Kong dollars and Chinese yuan, with no transaction fee charged for now to encourage trading. 

HKEX aims to develop Core Climate into an integrated carbon market that meets the needs of participants and project owners across the climate value chain, according to Glenda So, HKEX’s co-head of markets. On the other hand, Core Climate could bridge China and the world in a global transition to a low-carbon economy. Last July, China rolled out the national emission trading scheme (ETS), where over 2,000 companies in the power sector comply with emission limitations by reducing emissions or purchasing emission allowances from other emitters. However, the ETS market is inaccessible to foreign investors and still lacks internationally recognized verification standards. Therefore, Core Climate could contribute to China’s net-zero emissions goal for 2060. Last year, total global transactions in voluntary carbon markets increased by nearly 300% YoY to USD2bn, and the figure is expected to hit USD50bn in 2030.

S****ources:

https://www.scmp.com/business/banking-finance/article/3197647/hong-kong-bourse-operator-hkex-launches-voluntary-carbon-trading-platform-position-city-climate

https://www.caixin.com/2022-10-28/101957464.html

https://www.reuters.com/business/sustainable-business/chinas-national-carbon-emission-trading-opens-48-yuant-chinese-media-2021-07-16/

https://www.scmp.com/business/banking-finance/article/3146683/hkex-and-guangzhou-futures-exchange-explore-possibility

지금 바로 Seneca ESG 툴킷 사용 시작하기

포트폴리오의 ESG 성과를 모니터링하고, 나만의 ESG 프레임워크를 만들며, 더 나은 비즈니스 의사결정을 내리세요.

Toolkit

Seneca ESG

관심 있으신가요? 지금 문의하세요

문의하려면 오른쪽 폼을 작성하시거나 아래 이메일 주소로 연락 주십시오.

sales@senecaesg.com

싱가포르 지사

7 Straits View, Marina One East Tower, #05-01, Singapore 018936

+(65) 6223 8888

바르셀로나 지사

Carrer de la Tapineria, 10

Ciutat Vella, 08002, Barcelona, Spain

+34 612 22 79 06

타이베이 지사

77 Dunhua South Road, 7F Section 2, Da'an District Taipei City, Taiwan 106414

(+886) 02 2706 2108

리마 지사

Av. Santo Toribio 143,

San Isidro, Lima, Peru, 15073

(+51) 951 722 377