On September 25, Tianjin Climate Exchange, co-established by CNPC Assets Management Co., Ltd. (holding a 53% stake), Tianjin Property Rights Exchange (holding a 22% stake), and Chicago ClimateExchange (CCX) (holding a 25% stake), was unveiled in the Tianjin Binhai New Area.
At the request of the State Council, Tianjin Climate Exchange is established as China's first comprehensive platform for trading carbon credits under the CleanDevelopment Mechanism, and will promote environmental protection and emissionreduction by means of market and financial measures.
Tianjin ClimateExchange has the following goals: to help enterprises cost-effectively reduceemissions of pollutants, such as sulfur dioxide, chemical oxygen demand,etc; to help enterprises achieve maximum energy efficiency at minimum cost; to help enterprises manage environmental risks and meet increasingdisclosure requirements; and to provide enterprises with integrated internationalemissions market access and experience.