HomeCarbon CreditsDeutsche Börse and GFEX Partner on Carbon Markets

Deutsche Börse and GFEX Partner on Carbon Markets

Deutsche Börse and Guangzhou Futures Exchange (GFEX) have signed a Memorandum of Understanding (MoU) to facilitate carbon markets across China and Europe. They will now explore green finance product and service development opportunities together.

What are carbon markets and why are they so popular?

Companies purchase carbon credits through the carbon marketplace to offset GHG emissions through environmental projects. One credit equals one metric ton of carbon.

Many industries use offsets because the tech needed to get to net-zero doesn’t yet exist. So, the carbon market is a way to help the environment here and now.

The need for companies to reduce their GHG emissions, and a new global standard set at COP26, are behind the carbon market boom.

Currently, carbon markets are valued at $1 billion. Experts think they could reach $100 billion by 2030.

The carbon partnership between Deutsche and GFEX.

Thomas Book, Executive Board Member at Deutsche Börse, said, “Establishing this partnership is an important step to support the future of green development.”

GFEX Chairman, HU Zheng, had positive things to say as well. “2022 is the 50th anniversary of establishing diplomatic relations between China and Germany. We are very pleased to sign the MoU with Deutsche Börse.”

Does this carbon partnership impact the European Energy Exchange (EEX)?

The cooperation between GFEX and EEX is significant.

Peter Reitz, EEX’s CEO, said, “The introduction of a national carbon market in China last year was a milestone in China’s climate policy.”

But that isn’t all. Reitz feels that this partnership is a testament to, “the important role markets can play in cost-effectively facilitating green transformation.”

Per Reitz, “We are looking forward to partnering with GFEX in supporting the future development of the carbon market in China and beyond.”

Through this partnership, both Deutsche and GFEX hope to make the world’s GHG emissions goals a reality.

Most Popular
LATEST CARBON NEWS

From Wild Seaweed to High-Value Products and Carbon Credits

A wave of seaweed is covering the Caribbean coasts, killing wildlife while harming humans and tourism, but an innovative company is turning it into...

Ammonia: Carbon-Free Fuel for the Shipping Industry

Converting ammonia into hydrogen is an emission-free fuel to help decarbonize the heavy-duty and shipping transportation industry. The transportation industry is the biggest polluter in...

How The First Carbon Negative Nation of Bhutan Did It

As the world’s richest and largest emitting countries are struggling to reduce emissions, Bhutan became the first carbon negative nation. Fog-enshrouded temples nestled in mountainous...

Google’s Eco-Friendly Routing Comes to Europe

Google expanded its eco-friendly routing on its Google Maps to 40 countries across Europe. With Google Map’s eco-friendly routing, drivers can choose a route that’s...
CARBON INVESTOR EDUCATION

The 5 Top Carbon Offset Project Developers

Are you looking to directly reduce your carbon footprint or support projects that cut emissions elsewhere? Then carbon credits allow you to do either...

The Top 3 Private Carbon Companies to Watch Right Now

Right now, the carbon space is heating up. Dozens of companies are jumping into what’s fast becoming one of the hottest spaces to invest...

Carbon Insetting: The Target of Scope 3 Carbon Offset Accounting

Carbon offsets are a well-known sustainability concept so you most likely have heard of them. But there’s a relatively new sustainable supply chain term...

Tonne Year Accounting for Temporary Carbon Storage

You most likely know the climate benefits of storing carbon and removing gigatons of it from the atmosphere to limit climate change. But we also...