Hong Kong Exchanges and Clearing Limited (HKEX) is today (Tuesday) pleased to announce it has signed a Memorandum of Understanding (MOU) with the China Emissions Exchange Shenzhen (CEEX Shenzhen) to cooperate in accelerating the carbon market ecosystem development in Hong Kong and across the Greater Bay Area.
Under the MOU, HKEX and CEEX Shenzhen will jointly explore opportunities in cross-border carbon market connectivity and climate finance, as well as work together to increase awareness of developing the voluntary carbon market in the Greater Bay Area. This collaboration is focused on creating a vibrant sustainable finance ecosystem in the region, supporting China’s efforts to peak carbon emissions by 2030 and reach carbon neutrality by 2060, and in driving the growth of the green-finance industry in Asia.
HKEX Head of Emerging Business & FIC, Glenda So, said: “We are delighted to be signing an MOU with CEEX Shenzhen, one of China’s leading carbon emission trading platforms. This partnership underscores our ongoing commitment to develop a thriving and sustainable carbon market in the Greater Bay Area and across the region. By combining our expertise, we aim to build a dynamic regional marketplace that encourages innovation, offers access to high-quality carbon projects and facilitates the interaction between the mandatory and voluntary carbon markets in Mainland China and internationally. As key financial and innovation hubs, Hong Kong and Shenzhen will play a significant role in driving the region’s green finance industry, and we look forward to closely collaborating to capture the exciting opportunities ahead, as we transition to a low-carbon economy.”
Established in 2010, CEEX Shenzhen was the first trading platform in China to start carbon market operations in 2013, and the first Mainland onshore carbon market to welcome offshore investor participation. It is also among the first trading platforms allowed for China Certified Emission Reduction (“CCER”) trading.