The European Energy Exchange (EEX) and China Beijing Environment Exchange (CBEEX) signed a Memorandum of Understanding (MoU) last Friday in order to form a strategic partnership for the joint development of the Chinese carbon market.
The MoU is concluded against the background of the Chinese national emission trading system (ETS), which is expected to be launched still in 2017 and set to become the largest carbon market worldwide in terms of covered emissions.
Within the scope of the MoU, EEX and CBEEX will evaluate how access to the Chinese ETS for international companies can be facilitated and vice versa and how all market participants can benefit from a broad range of trading instruments and services.
Peter Reitz, Chief Executive Officer of EEX, comments: “The national ETS in China will have a significant impact on carbon markets worldwide and on the perception of carbon pricing in general. Building a liquid, robust and well-functioning exchange market for emission allowances in China will be a key factor for its success. EEX is keen to make an active contribution to this development, together with CBEEX as a strategic partner.”
Mr. ZHOU Cheng, Vice President, comments:“With the official enforcement of the Paris Agreement and full initiation of the coming national ETS, China’s carbon market will enter into a high speed development stage. Confronting the challenges and opportunities, CBEEX will endeavour all efforts to build the local and national carbon markets. In this process, EEX, as a leading energy exchange in Europe, will be a key strategic partner of CBEEX.”
About EEX
The European Energy Exchange (EEX) is the leading energy exchange in Europe which develops, operates and connects secure, liquid and transparent markets for energy and related products. As part of EEX Group, a group of companies serving international commodity markets, EEX offers contracts on Power, Emission Allowances and Coal as well as Freight and Agricultural Products. EEX is part of Deutsche Börse Group.
About CBEEX China Beijing Environment Exchange (CBEEX) functions as a leading and well-constructed nationallevel environment exchange, as a public platform that aims to utilize economic measures to address environmental issues, and as an important market for trading environmental financial derivatives. CBEEX has established a professional market platform for trading various environmental equities including Beijing Emissions Allowances, China Certified Emissions Reductions and etc..
Contact:
EEX Public Relations
T +49 341 2156-300 (Leipzig) | +44 207 862-7568 (London)
presse@eex.com
CBEEX Media Contact
T +86 10 66295578(Beijing)
lnshen@cbeex.com.cn