Hong Kong exchange launches new international carbon marketplace


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HONG KONG — Hong Kong Exchanges and Clearing Limited (HKEX) launched a new international carbon marketplace on Friday that seeks to connect capital with climate-related products and opportunities globally.

Worldwide efforts to combat climate change have spawned voluntary carbon markets, which allow emitters to offset their carbon by purchasing so-called credits, which are issued by projects targeted at removing or cutting emissions.

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HKEX had said in July that it was setting up the Hong Kong International Carbon Market Council, with global and Chinese banks, among others, as inaugural members but did not say when it planned to launch a market.

HKEX said the marketplace, Core Climate, would facilitate “effective and transparent trading” of carbon credits and instruments to support the global transition to net zero.

The marketplace participants will be able to source, hold, trade, settle and retire voluntary carbon credits through the platform, the bourse added. (Reporting by the Hong Kong newsroom; Editing by Christian Schmollinger and Rashmi Aich)


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