China, the world’s largest emitter of greenhouse gases, established its first carbon-neutral financial leasing service platform in Nansha, Guangzhou. The State Council of the Chinese Communist Party (CCP) is also set to launch an online trading system of emission allowances this month. However, international experts believe that China’s green bonds usually do not meet the standards.
On July 8, China Southern Power Grid’s carbon-neutral financial leasing service platform was formally established in Nansha, Guangzhou. The platform has received more than $156 million in the first phase of projects. According to Huo Zhigang, general manager of the company, the platform uses innovative financial leasing service models that establish a floating mechanism linking leasing fees with carbon emissions, and claims to force carbon emitters to reduce emissions.
