HKEX Signs Agreement with CEEX Shenzhen to Advance the Greater Bay Area’s Carbon Market Ecosystem

On October 31, 2023, Hong Kong Exchanges and Clearing Limited (HKEX) published a press statement to inform that it has officially entered into a Memorandum of Understanding (MOU) with the China Emissions Exchange (CEEX) Shenzhen. This collaboration aims to bolster the development of the carbon market ecosystem within Hong Kong and across the Greater Bay Area.
Under this MOU, HKEX and CEEX Shenzhen will join forces to explore opportunities related to cross-border carbon market connectivity and climate finance. Additionally, they will cooperate to raise awareness about the voluntary carbon market being developed in the Greater Bay Area. The overarching objective of this partnership is to create a robust and sustainable finance ecosystem in the region. This initiative is also expected to support China’s goal of achieving peak carbon emissions by 2030 and carbon neutrality by 2060, while also contributing to the expansion of the green finance industry in Asia.
Glenda So, the Head of Emerging Business & FIC at HKEX, expressed enthusiasm for the collaboration, highlighting CEEX Shenzhen’s prominent position as one of China’s leading carbon emission trading platforms. She emphasized their joint commitment to fostering a thriving and sustainable carbon market in the Greater Bay Area and beyond. The partnership combines their respective expertise to establish a dynamic regional marketplace that encourages innovation, provides access to high-quality carbon projects, and facilitates interaction between the mandatory and voluntary carbon markets in Mainland China and the international arena, so Mrs. So.
CEEX Shenzhen, established in 2010, was the first trading platform in China to commence carbon market operations in 2013. It was also the first onshore Mainland carbon market to welcome offshore investor participation and one of the early platforms authorized for the China Certified Emission Reduction trading.