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China completes first online sulfur dioxide emissions trading
enorth.com.cn   2008-12-25 10:27

 

(tradingmarkets)China completes the first online trading of sulfur dioxide emissions credits on Tianjin Climate Exchange Tuesday, marking an important step in the country's effort to reduce major pollutants, according to a source with China National Petroleum Corporation (CNPC).

Seven bidders joined the online auction, including local venture capitalist Binhai Capital and medical producer Tasly.

Tianjin Climate Exchange, co-founded by CNPC Assets Management Co. Ltd., Tianjin Property Rights Exchange and Chicago Climate Exchange (CCX), facilitated the trade.

It invited bidding for sulfur dioxide emission credits on December 15 and facilitated the completion of transaction on Tuesday.

The exchange will carry out sulfur dioxide and COD emissions trading in future, said the source with CNPC.

China sets the goal of cutting the total discharge of major pollutants by 10 percent by 2010 from that of 2005 in its eleventh five-year plan (2006-10).


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