What’s new: The Guangzhou Futures Exchange will accelerate its efforts to launch a carbon futures market, said Gao Li, a spokesperson of the China Securities Regulatory Commission (CSRC).
The CSRC plans to have the exchange conduct research and investigations and improve the trading rules for carbon futures, Gao said at a press conference (link in Chinese) Friday.
The background: China is recalibrating its approach to economic development in light of the bold climate pledges it made last year. Beijing has committed to bringing carbon emissions to a peak by 2030 and reducing them to net zero by 2060.
Launched in April, the Guangzhou Futures Exchange is China’s fifth futures exchange. With 3 billion yuan ($464.1 billion) in registered capital, it focuses on green-linked products.
Related: Cover Story: The Green Finance Challenge Facing China’s Banks
Contact reporter Tang Ziyi (ziyitang@caixin.com) and editor Michael Bellart (michaelbellart@caixin.com)
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