(2016-10-13)Tianjin Climate Exchange was launched in Binhai New Area on September 25, 2008, and it became the first comprehensive exchange for emission rights in China. It was set up in accordance with the requirements of the State Council’s approval on the overall plan of Tianjin Binhai New Area’s comprehensive reform. The Exchange serves as an international trading platform to promote energy conservation and emissions reduction through market-based approaches and financial innovations.
In September 2008, the Ministry of Finance and the Ministry of Environmental Protection approved the city’s application of developing a comprehensive pilot for emission rights. The Exchange was responsible for the construction of the secondary market. In September 2009, it became People’s Bank of China’s low-carbon financial experiment platform. The Exchange is devoted to the transaction on emission rights of sulfur dioxide, chemical oxygen demand, and greenhouse gases, as well as energy efficiency trading and related consultation services involving them.
The Exchange finished China’s first Internet-based sulfur dioxide emission rights trading on Dec 23, 2008 and China’s first carbon offsets deal based on regulating the accounting of carbon footprint on Nov 17, 2009. In September 2009, the Exchange initiated the “Enterprises’ Voluntary Emission Reduction Joint Action”, which attracted more than 30 companies including China National Petroleum Corporation, China Huadian Corporation, Aluminum Corporation of China, Samsung, Motorola, Toyota, and the French industrial giant Lafarge to join and make plans, targets, trading rules and system, and provided innovative ideas and practice platform for the country to formulate strategies to cope with climate changes and related industrial policies through multi-party collaboration.
The Exchange is the organizer and promoter of China’s first deal for carbon offsets, which explored a specification model for enterprises’ carbon offsets through a market-based approach and is significant for setting up a Chinese standard in emission reduction and promoting the formation and development of China’s carbon market. Tianjin Climate Exchange was established by CNPC Assets Management Co, Ltd, Tianjin Property Rights Exchange and Chicago Climate Exchange.
Since its establishment in 2008, it has finished several carbon-emissions trading deals, making concrete efforts to facilitate China’s construction of a resource-efficient and environment-friendly society. As one of the shareholders, Chicago Climate Exchange provides rich experience in ideas, methods and the construction of market system, a solutions package as well as a mature trading system for Tianjin Climate Exchange with its eminence, professional competence and service as a global platform in the international market for emission rights.
In November 2014, Tianjin Tianfeng Steel Co, Ltd and China Carbon Futures (Beijing) Asset Management made the first deal to purchase 60,000 tons of Chinese Certified Emission Reductions (CCER) in Tianjin. It was the city’s first carbon emissions trading pilot enterprise that uses the purchase of CCER to offset the quota of greenhouse gas emissions for the next year. In April 2015, Tianjin Climate Exchange concluded the largest single transaction of voluntary emission reduction in China, with a trading volume of 506,125 tons. The CCER buyer is China Carbon Futures (Beijing) Assets Management Co., Ltd., and the seller is Wuhu Conch Cement Co., Ltd. of Anhui Conch Group. The 500,000-ton emission reduction for the transaction came from “Wuhu Conch Cement 2*18 MW Waste Heat Power Generation Project”.
On the basis of the construction and operation of the national voluntary carbon trading platform and the mandatory carbon trading platform of Tianjin, Tianjin Climate Exchange has striven to integrate technical, financial and market resources for energy conservation, emission reduction, and green energy, and to create an integrated low-carbon service mode covering the whole industrial chain.
In November 2015, a signing ceremony was held for the 150 MW photovoltaic power generation project in Qingshuihe County, Hohhot, Inner Mongolia, between Qingshuihe People’s Government, Tianjin Climate Exchange, and Beijing Beiyao Weier Technology Co., Ltd. December 2015 saw the signing ceremony for the 150 MW photovoltaic power generation project between Tianjin Climate Exchange and the Management Committee of Ordos New Energy Industry Demonstration Zone, Inner Mongolia. This is the second new energy project in Inner Mongolia.