Home Asia - Pacific A Subsidiary of United PV Entered into a Strategic Cooperation Agreement with China Emissions Exchange
A Subsidiary of United PV Entered into a Strategic Cooperation Agreement with China Emissions Exchange

A Subsidiary of United PV Entered into a Strategic Cooperation Agreement with China Emissions Exchange

24
0

China’s largest pure play solar power plant investor and operator – United Photovoltaics Group Limited (“United PV” or the “Company”, the SEHK stock code: 00686, which together with its subsidiaries is referred to as the “Group”, the largest shareholder: China Merchants New Energy Group Co., Ltd.), is pleased to announce that, in order to ensure the actively participation in the upcoming launch of the national carbon emission trading market and guarantee of the stable and sustainable development of the Group’s carbon asset business, United Photovoltaics (Shenzhen) Co., Ltd, a subsidiary of the Group, and China Emissions Exchange entered into a strategic cooperation agreement in February 2017. Signing of the agreement will strengthen the Group’s market position in carbon trading, carbon asset management, carbon finance innovation, and capacity building etc..

Ever since the launch of pilot projects of carbon emission trading in China in 2013, carbon trading has been carried out in seven pilot regions, namely Beijing, Shanghai, Tianjin, Guangzhou, Hubei, Chongqing and Shenzhen. As of the end of December 2016, the transaction volume of emission quotas totaled 320 million tons, with a total transaction amount of more than RMB$9.1 billion; of which 120 million tons are spot transactions (transaction amount: RMB$3.2 billion), 240 million tons are forward transactions (transaction amount: RMB$6 billion). Hubei, Beijing and Shenzhen accounted for 70% of the total transaction volume. Shenzhen Emissions Exchange is the leading professional domestic carbon trading market platform, and is also the first carbon market in China which is open to foreign investors.

The Group, together with Shenzhen Emissions Exchange, will not only assist the subsidiary companies under United PV to revitalize their carbon assets, but will also work together to develop innovative cooperation in the field of carbon finance, and develop a series of climate finance products such as carbon futures, carbon options, carbon bonds, carbon funds etc.. At the same time, the Group will utilize the platforms in Shenzhen and Hong Kong to develop a training platform for capacity building in the national carbon trading market, so as to help enterprises which are required to or voluntarily reduce carbon emissions to enhance their carbon asset management capacity.

Source:unitedpvgroup
Anand Gupta Editor - EQ Int'l Media Network

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *

Open chat