Tianjin Climate Exchange

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Tianjin Climate Exchange
Founded 2008
Products China’s first integrated exchange for trading of environmental financial instruments
Website tianjinclimateexchange.com

Tianjin Climate Exchange (TCX) is China’s first integrated exchange for trading of environmental financial instruments. TCX was unveiled in the fall of 2008.[1]

As a joint venture between the China National Petroleum Corporation Asset Management Company, Ltd. CNPC-AM, the City of Tianjin and Chicago Climate Exchange (CCX), TCX aims to establish China as a pre-eminent center for environmental finance and the application of market-based mechanisms to environmental management and natural resource protection.[2]

China's 11th Five-Year Plan (2006-10) calls for cutting energy consumption per unit of GDP up to 20 percent by 2010 while reducing major pollutants, such as sulfur dioxide (SO2) by 10 percent.[3]

China's Tianjin Climate Exchange is expected to start trading sulfur dioxide emissions and water pollutants, although no launch date has been set.[4] Chicago Climate Exchange is a 25 percent owner in the Tianjin exchange. The balance is held by China National Petroleum Corp Assets Management Co. (53 percent) and government agency Tianjin Property Rights Exchange (22 percent).[5]

History

Members

As of the end of September 2008: CNPCAM, Tianjin Economic-Technological Development Zone, Industrial and Commercial Bank of China, Construction Bank of China, Bohai Bank, Taida Group, Bureau of Comprehensive Development of the Ministry of Water Resources of the PRC, China National United Oil Corporation, Northern International Trust Investment Corporation, Tianjin Zhongxin Eco-City Investment Development Corporation, Arreon Carbon Corporation, First Capital Futures Co. Ltd., Binhai Capital Co. Ltd. and Tianjin Equity Investment Co. Ltd.[6]

Products and Services

Key People

Gao Luan, vice chairman of TCX and director of Tianjin Property Rights Exchange (TPRE)

News

In 2006, Tianjin Binhai New Area was designed by the State Council of the PRC as the national experimental zone for comprehensive reforms related to financial innovation, land and administrative management.[7]

In December 2008, Chicago Climate Exchange (CCX) announced that Tianjin Climate Exchange (TCX) and Hong Kong Exchanges and Clearing Limited (HKEx) entered into discussions on possible cooperation in environmental emissions markets.[8]


References

  1. Tianjin Climate Exchange Unveiled. CNPC.
  2. Tianjin Climate Exchange TCX Opens Headquarters CNPC, TPRE, CCX. Finetik.
  3. Climate Exchange To Boost Emission Trading. China Daily.
  4. Membership. China Daily.
  5. China To Kick Off Emissions Trading. Power Finance & Risk.
  6. Opportunities and Challenges: Tianjin Climate Exchange. King & Wood.
  7. {{{name}}}. Tianjin Climate Exchange.
  8. {{{name}}}. Tianjin Climate Exchange (TCX) and Hong Kong Exchanges and Clearing Limited (HKEx) Begin Discussions on Possible Collaboration.