Officials from the UK Climate Change Office carbon trading delegation who visited China on January 25 said that British carbon trading companies attach great importance to the Chinese carbon market and are willing to share British experience with Chinese partners. In addition to continuing to look for new Clean Development Mechanism (CDM) projects, the UK is also optimistic about new carbon trading possibilities such as reducing carbon emissions in Chinese industries.
Tom Bouwens, deputy director of the British Climate Change Office, said on the 26th: "China is the largest seller of CDM carbon credits in the world, and the UK is the largest buyer in the world. There are many opportunities in China, which is why the UK hopes to cooperate with China Strengthen connections." More than 10 senior executives from British carbon trading companies, including Environmental Protection Bridge and Climate Change Asset Group, participated in the trip to China. From the 25th to the 29th, they will hold discussions with Chinese representatives in Beijing, Shanghai and Shenzhen. Topics include China's CDM project development, carbon emission reduction financing and carbon trading financial derivatives. The UK leads the world in carbon trading experience. The UK established the world's first national greenhouse gas trading mechanism in 2002. When EU-ETS, the world's largest EU carbon trading mechanism, was established, the UK had already been running it for three years. Many carbon trading companies have chosen London as their headquarters.
China has initially formed a tripartite pattern of carbon trading markets. This includes the Beijing Environment Exchange, Tianjin Emissions Exchange and Shanghai Environment Energy Exchange. Among them, the Tianjin Emissions Exchange has conducted sulfur dioxide emissions trading, and the Beijing Environment Exchange has opened a market for companies to voluntarily reduce carbon emissions, and released the "Panda Standard" for voluntary carbon emission reductions during the Copenhagen Conference. Tom said that British companies welcome the rapid development of China's carbon trading market, which will have many benefits and more trading activities can be carried out. There are currently three main carbon exchanges in the EU: the European Environmental Exchange (ECX) in London, the Bluenext Exchange in Paris and the Nordic Electricity Exchange (Nordpool) in Norway.
Although the Copenhagen conference did not reach legally binding targets for reducing carbon emissions, Tom Bowens believes that Copenhagen has not completely failed. The Copenhagen Accord reached consensus on controlling global warming to 2 degrees Celsius, and more developed developing countries also have their own domestic plans to address climate change. Compared with the carbon intensity targets proposed by China and India, Tom said that since South Africa and Brazil have committed to absolute carbon emission reduction targets, it may be easier for carbon trading companies to find investment opportunities in these two countries.
– Reference source: Securities Star 2010-01-27
– For reference only, please refer to the original text.
