Hong Kong Exchanges and Clearing : HKEX Signs MOU with CEEX to Explore Greater Bay Area, International Carbon Opportunities

Corporate

24 Mar 2022

Hong Kong Exchanges and Clearing Limited (HKEX) is today (Thursday) 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.

About HKEX

Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world's major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world's leading IPO market and as Hong Kong's only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia's most vibrant markets.

HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.

HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.

www.hkexgroup.com

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