Shanghai’s voluntary emissions reduction (VER) market will gradually grow into the biggest VER market in China, said an official in charge of the Shanghai Environment & Energy Exchange.
As China’s first environment and energy trading body, the Shanghai Environment & Energy Exchange had basically set voluntary carbon trading system, which had reached the international level, and established China’s first voluntary Carbon Standard (VCS).
The exchange’s Shanghai World Expo VER platform was the world first platform specialized for the World Expo’s carbon emissions trading.
Many pavilions of the World Expo, such as the Corporate Pavilion of Vanke, British Pavilion, the United Nations Pavilion and the Private Enterprises Joint Pavilion achieved voluntary emissions reduction through the World Expo VER platform.
Statistics show that number of voluntary emission reduction projects and the transaction volume in the Shanghai VER market both rank first in the whole country.
Pacific Millennium Paper Group had successfully purchased 21,953 tonnes of voluntary emissions reductions in July, which was the biggest deal for the exchange’s Shanghai World Expo VER platform.
