Over 40 trades completed in first few weeks since Core Climate launch: HKEX

Core Climate is the market’s new global carbon marketplace.

Hong Kong Exchanges and Clearing Limited (HKEX) announced that more than 40 trades were completed by over 20 Core Climate in the first four weeks of trading.

Core Climate is Hong Kong’s new international carbon trading at HKEX Connect Hall.

The trading was between 28 October and 24 November 2022, which represented a total volume of around 400,000 tonnes of carbon credits.

The quality carbon credits come from more than 30 internationally-certified projects, generated from forestry, solar, wind, hydropower and biomass initiatives in Asia, South America and West Africa.

All projects available on Core Climate, “including carbon avoidance, reduction and removal projects, are verified against the Verified Carbon Standard by Verra.”

HKEX Chairman Laura Cha said the carbon trading is a ground-breaking initiative to speed up low-carbon transition in Hong Kong, China and in other markets in Asia.