Hong Kong Exchanges and Clearing Limited (HKEX) is today (Thursday) pleased to announce the inclusion of Gold Standard's Verified Emission Reductions (GS-VERs) on the Core Climate platform, HKEX's carbon marketplace, with effect on 1 August 2024.
HKEX Co-Head of Markets Glenda So said: "We are delighted to add Gold Standard's Verified Emission Reductions to our carbon market ecosystem. The addition will allow a more diverse range of internationally certified climate projects to be available on the Core Climate platform and reflects our commitment to providing investors and corporates with more options to support climate projects as they progress in their net zero transition journeys."
Gold Standard is among the world's most widely adopted carbon credit certification programmes and focuses on accelerating global progress towards combatting climate change and sustainable development. Gold Standard issued Verified Emission Reductions (GS-VERs) are a form of carbon offset that can be traded on the voluntary market for carbon credits. Each GS-VER represents one tonne of CO2 emissions.
Core Climate will support the trading, settlement, custody, and retirement of GS-VERs, providing a seamless and integrated experience for Core Climate's users.
Launched in October 2022, HKEX's Core Climate is currently the only carbon marketplace that offers Hong Kong Dollar and Renminbi settlement for the trading of international voluntary carbon credits. The platform has over 80 participants and offers quality carbon credits from more than 50 internationally certified projects in Asia, South America and West Africa, covering forestry, solar, wind and biomass initiatives. All projects available on Core Climate are verified against international standards, including the Verified Carbon Standard by Verra.
Further details of the inclusion of GS-VERs can be found in the circular published by HKEX today. To learn more about Core Climate, please visit the HKEX Website.
