Deutsche Börse and Guangzhou Futures Exchange (GFEX) have partnered to promote carbon market development to facilitate the green transition of the Chinese and European economies.
A Memorandum of Understanding (MoU) has been signed by both parties, who will jointly explore opportunities in green finance product and service development.
A major element of the partnership is the business cooperation between European Energy Exchange (EEX) and GFEX.
Commenting on the partnership, Deutsche Börse executive board member Thomas Book, says: “We are contributing to the green transformation of the financial and real economy. Establishing this partnership with GFEX is an important step to support the future development of green markets.”
EEX chief executive officer Peter Reitz, adds: “The introduction of a nationwide carbon market in China last year was a milestone in China’s climate policy. It is also testament to the important role markets can play in cost-effectively facilitating green transformation. Based on our long-standing experience in operating carbon markets, we are looking forward to partnering with GFEX in supporting the future development of the carbon market in China and beyond.”
Chairman of GFEX HU Zheng, comments: “We hope we can make full use of this opportunity to jointly break new ground in green development and make our due contribution to the realisation of the carbon goals of Sino-German, China-Europe, and even the world.”
