Climate Exchange moves into China

02 May 2008

by Jim Kharouf, Laurence Davison

Climate Exchange is set to make a major move into Asia with a deal to create an emissions market in China.
The deal, which could be concluded in the coming days, will create a joint venture between Climate Exchange and Chinese National Petroleum Corporation Assets Management, a division of Chinese National Petroleum Corporation (CNPC). CNPC’s listed company is PetroChina. Although PetroChina had not commented by press time, it is believed it could be ready to sign the agreement in May. There is no indication of what kind of products might be traded at a new bourse.

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“One of our key predictions for 2011 was that geopolitical tensions will simmer more vigorously this year, particularly in the context of a market in which incremental non-Opec volumes are becoming more difficult to bring on stream and in which Opec spare capacity gets more noticeably stretched.”

BarCap's 2011 oil outlook looks increasingly accurate.

Climate Exchange moves into China

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