Business · Companies · 3 hrs ago
Hong Kong completes first cross-border green-product trades with mainland exchanges
Hong Kong Exchanges and Clearing completed cross-border green-product trading pilots with exchanges in Guangzhou and Shenzhen, mainland China.
Through the Guangzhou Power Exchange Centre, 15 companies bought about 100,000 Green Electricity Certificates on HKEX’s Core Climate platform.
Each certificate represents one megawatt-hour of renewable electricity and is recognised nationally in mainland China.
Companies can use the certificates to meet renewable electricity commitments by showing they have purchased the renewable energy attributes.
Core Climate, launched in 2022, is Hong Kong’s marketplace for international firms to trade carbon credits.
The pilots mark the first time Green Electricity Certificates were added to Core Climate; no further steps were specified.
Hong Kong Exchanges and Clearing has completed its first cross-border trades of green products under two pilot programmes with mainland exchanges in Guangzhou and Shenzhen.
Through HKEX’s Core Climate platform, 15 companies bought about 100,000 Green Electricity Certificates through the Guangzhou Power Exchange Centre.
The companies included Airport Authority, China Power International Development and Bank of China (Hong Kong).
Each certificate represents one megawatt-hour of renewable electricity and can help companies meet renewable electricity commitments.
The pilot marks the first time Green Electricity Certificates have been added to Core Climate.
- Who
- Hong Kong Exchanges and Clearing and 15 companies, including Airport Authority, China Power International Development and Bank of China (Hong Kong).
- What
- They completed the first cross-border trades of green products under two pilot programmes.
- When
- Not stated.
- Where
- Through mainland exchanges in Guangzhou and Shenzhen; the reported certificate purchases were made through the Guangzhou Power Exchange Centre.
- Why
- Companies can trade Green Electricity Certificates to meet their renewable electricity commitments.
This story does not have two clearly opposing sides.
HKEX launched Core Climate as a marketplace for international firms to trade carbon credits.
Paul Chow Koon-ying said the Core Climate platform had enabled 15 companies to purchase about 100,000 Green Electricity Certificates through the Guangzhou Power Exchange Centre.
- Companies
- 15
- Certificates purchased
- About 100,000 Green Electricity Certificates
- Guangzhou exchange
- Guangzhou Power Exchange Centre
- Certificate value
- One megawatt-hour of renewable electricity
- Platform launch
- 2022
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