Climate Exchange closes deal for first emissions exchange in China
08 Aug 2008
Climate Exchange announced last Thursday a deal with Chinese National Petroleum Corporation Assets Management to launch China’s first emissions exchange.
The new exchange, which will be located in Tianjin City, is expected to offer a range of emissions contracts including Kyoto-based carbon dioxide and sulfur dioxide contracts.
An exchange spokesperson had no further comment on the deal.
The deal had appeared to hit a snag in late June over disagreements on foreign ownership of the exchange.
The original plan called for Climate Exchange to take a 25% stake in the exchange. CNPC Assets Management was set to take a 53%...
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