HKEX Signs MOU with CEEX to Explore Greater Bay Area, International Carbon Opportunities

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Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce it has signed a Memorandum of Understanding (MOU) with the China Emissions Exchange (CEEX) to explore cooperation in tackling climate change and promoting sustainability through carbon finance.

Under the MOU, HKEX and Guangzhou-based CEEX will jointly explore the development of a voluntary carbon emission reduction programme in the Guangdong-Hong Kong-Macao Greater Bay Area, with the aim of supporting China’s efforts to peak carbon emissions by 2030 and reach carbon neutrality by 2060.

The two exchanges will also work together to share research and experience on carbon market financing and global carbon market standards, to help boost the internationalisation of China’s carbon market.

HKEX Chief Executive Officer Nicolas Aguzin said: “Building a market and a business for the long-term is central to HKEX’s sustainability commitment, and we are delighted to be partnering with CEEX to actively explore new opportunities in carbon market and carbon financing. Hong Kong and Guangzhou will play a significant role in driving the green finance and sustainable journey of the Greater Bay Area. We look forward to working with CEEX to promote a low-carbon economy in the region and beyond.”

Guangzhou Exchange Group Chairman Luo Junfu said: “As an early promoter of carbon markets in support of China’s carbon emission goals, CEEX is committed to helping the Greater Bay Area tackle climate change and boost its sustainable development, supported by our deep experience in carbon finance. We are very delighted to be partnering with HKEX to promote the green transformation and sustainable growth of the Greater Bay Area and beyond.”

Established in Guangzhou in 2012, CEEX is a subsidiary of Guangzhou Exchange Group and the designated platform in Guangdong Province for the issuance and trading of carbon emissions allowance and for the trading of China Certified Emission Reduction (CCER) credits. As one of seven regional pilot carbon emissions trading markets in China, CCEX recorded 27.5 million tonnes of carbon emission allowance trading in 2021, ahead of its peers.

Source: Hong Kong Exchanges and Clearing Limited (HKEX)

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