Tianjin Climate Exchange (TCX) is a domestic

carbon market Emission trading Emissions trading is a market-based approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants. The concept is also known as cap and trade (CAT) or emissions trading scheme ...

cap-and-trade Emissions trading is a market-based approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants. The concept is also known as cap and trade (CAT) or emissions trading scheme (ETS). Carbon emission t ...

scheme

exchange Exchange may refer to: Physics * Gas exchange is the movement of oxygen and carbon dioxide molecules from a region of higher concentration to a region of lower concentration. Places United States * Exchange, Indiana, an unincorporated community * ...

. Jeff Huang is assistant chairman of Tianjin Climate Exchange and vice-president of Chicago Climate Exchange. It is China's first integrated exchange for trading of environmental financial instruments TCX is a joint venture between Chicago Climate Exchange, the municipal government of

Tianjin Tianjin (; ; Mandarin: ), alternately romanized as Tientsin (), is a municipality and a coastal metropolis in Northern China on the shore of the Bohai Sea. It is one of the nine national central cities in Mainland China, with a total popu ...

and the

asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

unit Unit may refer to: Arts and entertainment * UNIT, a fictional military organization in the science fiction television series ''Doctor Who'' * Unit of action, a discrete piece of action (or beat) in a theatrical presentation Music * ''Unit'' (a ...

of PetroChina, the country's largest oil and gas producer. Cap-and-trade schemes are programs under which member companies commit to lowering their

greenhouse gas emissions Greenhouse gas emissions from human activities strengthen the greenhouse effect, contributing to climate change. Most is carbon dioxide from burning fossil fuels: coal, oil, and natural gas. The largest emitters include coal in China and ...

by a certain amount in a certain period of time and trade carbon credits generated by this. As China does not have a national cap on emissions, any such scheme would be voluntary, similar to the situation in the US when the Chicago Climate Exchange launched in 2003.

History

On September 25, 2008, Tianjin Climate Exchange, co-established by CNPC Assets Management Co., Ltd. (holding a 53% stake)
Tianjin Property Rights Exchange
(北方产权交易市场) (holding a 22% stake), and Chicago Climate Exchange (CCX) (holding a 25% stake), was unveiled in the Tianjin Binhai New Area. At the request of the State Council, Tianjin Climate Exchange is established as China's first comprehensive platform for trading carbon credits under the Clean Development Mechanism, and will promote environmental protection and emission reduction by means of market and financial measures. Tianjin Climate Exchange has the following goals: to help enterprises cost-effectively reduce emissions of pollutants, such as sulfur dioxide, chemical oxygen demand, etc.; to help enterprises achieve maximum energy efficiency at minimum cost; to help enterprises manage environmental risks and meet increasing disclosure requirements; and to provide enterprises with integrated international emissions market access and experience. In 2006,

Tianjin Binhai New Area Binhai, officially known as Binhai New Area (), is a sub-provincial district and state-level new area within the jurisdiction of Tianjin Municipality in the People's Republic of China. Binhai is intended to replicate development seen in She ...

was designed by the State Council of the PRC as the national experimental zone for comprehensive reforms related to financial innovation, land and administrative management. China's Eleventh Five-Year Plan (2006–10) called for cutting energy consumption per unit of GDP up to 20 percent by 2010 while reducing major pollutants, such as sulfur dioxide (SO2) by 10 percent.

Tianjin Property Rights Exchange

TPRE was launched in 1994, under government approval. It is a government agent under the charge of Tianjin

SASAC The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is a special commission of the People's Republic of China, directly under the State Council. It was founded in 2003 through the consolidation of variou ...

and is the only appointed exchange authorized by Tianjin

for state-owned assets and equities transaction. It is one of three national institutions permitted by SASAC to transact assets and equities of SOEs under control of central government.

Trade products and services

Greenhouse gas

emissions trading Emissions trading is a market-based approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants. The concept is also known as cap and trade (CAT) or emissions trading scheme (ETS). Carbon emission ...

Energy efficiency market product trading Emissions trading based on mandatory government targets Carbon neutral trading and other forms of voluntary carbon reduction trading International trade in greenhouse gas emissions Trading of emission rights for major pollutants Sulfur dioxide emissions trading Chemical oxygen demand emission trading Emissions trading of nitrogen oxides and other pollutants Comprehensive services for energy conservation and emission reduction Integrated services for clean development mechanism (CDM) projects Integrated services for contract energy management (EMC) projects Low carbon solution design for region, industry and project Other advisory services Trading product development and design Emission trading product development and design Development and design of environmental financial derivatives

References

{{reflist *http://www.chicagoclimatex.com/news/press/release_20081223_CLE_announcement.pdf *http://www.cnpc.com.cn/eng/press/newsreleases/CSR/d1495066-3c79-482a-a36b-88b834cf3f78.htm *http://www.chinadaily.com.cn/bizchina/2008-10/27/content_7144537.htm

External links

official website
Climate change in China Carbon finance

History

Tianjin Property Rights Exchange

Trade products and services

See also

References

External links