DBS, SGX, Standard Chartered and Temasek to take climate action through global carbon exchange and marketplace
DBS Bank (DBS), Singapore Exchange (SGX), Standard Chartered and Temasek announced their intention to join forces to take climate action. Through a joint venture to be established by the four parties, Climate Impact X (CIX) aims to be a global exchange and marketplace for high-quality carbon credits.
CIX will leverage satellite monitoring, machine learning and blockchain technology to enhance the transparency, integrity and quality of carbon credits that deliver tangible and lasting environmental impact.
CICC suggested that China's green investment demand would total about 139 trillion yuan to accomplish carbon neutrality
A study by CICC suggested that China’s green investment demand would total about 139 trillion yuan to accomplish carbon neutrality. On average, annual green investment demand accounts for about 2% of GDP.
Specifically, China’s annual green investment demand was estimated at 2.2 trillion yuan over 2021–2030 to reach peak carbon emissions, and at 3.9 trillion yuan over 2031–2060 to accomplish carbon neutrality. Over 2021–2060, the estimation was 3.5 trillion yuan.
China Carbon Emission Rights for registration, trading and settlement management come into effect
In order to further standardize the national carbon emission rights registration, trading, and settlement activities, and protect the legitimate rights and interests of all participants in the national carbon emission rights trading market, our ministry organized and formulated the "Carbon Emission Rights Registration" in accordance with the "Regulations on Carbon Emission Rights Trading (Trial) Management Rules (Trial), "Carbon Emissions Trading Management Rules (Trial)" and "Carbon Emissions Right Settlement Management Rules (Trial)", the relevant matters are hereby announced as follows:
1. Before the establishment of the national carbon emission rights registration agency, Hubei Carbon Emissions Trading Center Co., Ltd. was responsible for the account opening and operation, and maintenance of the national carbon emission rights registration system.
2. Before the establishment of the National Carbon Emissions Trading Agency, Shanghai Environmental Energy Exchange Co., Ltd. was responsible for the account opening and operation and maintenance of the National Carbon Emissions Trading System.
3. The "Regulations for the Registration and Management of Carbon Emission Rights (for Trial Implementation)", the "Regulations for the Management of Carbon Emission Rights Trading (for Trial Implementation)" and the "Regulations for the Settlement and Management of Carbon Emission Rights (for Trial Implementation)" shall come into force on the date of this announcement (17/05/2021)
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