NYSE Blue, an environmental exchange operator, stands first in queue to ensure that it is not missing out on the opportunity to harness a huge carbon emission trading market in China; as the country is poised to be the world-leader in low carbon sector.
A new joint venture of exchange operator NYSE Euronext and APX (a leading infrastructure provider for carbon trading market), NYSE Blue has undertaken a project-- Panda Standard --with China Beijing Environment Exchange, People s Daily said in a report.
NYSE Blue eyes the voluntary market activity in China and Panda standard fits its bill and market potential estimates; Panda Standard may become the norm of the future, NYSE Blue believes.
Its hopes are not unfounded as National Development and Reform Commission (NDRC), China s premier economy planner has been in the process of developing a mandatory domestic carbon trading system in the country.
China intends to cut carbon emissions per unit of GDP by 40 to 45 percent from the 2005 levels in the next ten years. The country is dedicated to building low-carbon business with sweetened offerings in renewable energy sector helping it pioneer manufacturing of wind turbines with projections to breach the US levels in installed wind power capacity.
In the meantime, Intercontinental Exchange, parent of Chicago Climate Exchange already in partnership with China s Tianjin Climate Exchange, wants a market pie by providing technologies and platforms in addition to carbon trading market designs, in which it has practical experience.
With a dozen environmental exchanges where companies can trade pollution permits, the market would gain heat in a while.
In fact NYSE Blue estimates China to contribute to half of its business. On a partnership basis, the company is trying to develop software to measure GHG emissions for reporting emissions; a key element in carbon trading market.
China has played a key role in the Clean Development Mechanism (CDM), under the Kyoto Protocol, approving 2,685 CDM projects of which 953 were successfully registered at the UN s CDM Executive Board; a whopping 40% of total registrations from around the world.
The challenge posed to voluntary emissions trading in the domestic market are however significant, since China is new to it; government as well as investors.
Currently the market is devoid of products or demand with relatively scant presence of legislation, policy and standards; given its sublime potential.
A new joint venture of exchange operator NYSE Euronext and APX (a leading infrastructure provider for carbon trading market), NYSE Blue has undertaken a project-- Panda Standard --with China Beijing Environment Exchange, People s Daily said in a report.
NYSE Blue eyes the voluntary market activity in China and Panda standard fits its bill and market potential estimates; Panda Standard may become the norm of the future, NYSE Blue believes.
Its hopes are not unfounded as National Development and Reform Commission (NDRC), China s premier economy planner has been in the process of developing a mandatory domestic carbon trading system in the country.
China intends to cut carbon emissions per unit of GDP by 40 to 45 percent from the 2005 levels in the next ten years. The country is dedicated to building low-carbon business with sweetened offerings in renewable energy sector helping it pioneer manufacturing of wind turbines with projections to breach the US levels in installed wind power capacity.
In the meantime, Intercontinental Exchange, parent of Chicago Climate Exchange already in partnership with China s Tianjin Climate Exchange, wants a market pie by providing technologies and platforms in addition to carbon trading market designs, in which it has practical experience.
With a dozen environmental exchanges where companies can trade pollution permits, the market would gain heat in a while.
In fact NYSE Blue estimates China to contribute to half of its business. On a partnership basis, the company is trying to develop software to measure GHG emissions for reporting emissions; a key element in carbon trading market.
China has played a key role in the Clean Development Mechanism (CDM), under the Kyoto Protocol, approving 2,685 CDM projects of which 953 were successfully registered at the UN s CDM Executive Board; a whopping 40% of total registrations from around the world.
The challenge posed to voluntary emissions trading in the domestic market are however significant, since China is new to it; government as well as investors.
Currently the market is devoid of products or demand with relatively scant presence of legislation, policy and standards; given its sublime potential.
