Green Finance: 2 newly launched Hong Kong-based registries to boost carbon credits trade in Asia, founders say
- Registries launched by Asia Carbon Institute and Carbonbase aim to accelerate acceptance of Asian project developers’ credit claims
- Experience reminds us to embrace the launches ‘with cautious optimism’, co-founder of the Hong Kong Green Finance Association says
Two Hong Kong-based and Asia-focused carbon registries launched recently will help to lower barriers for the trading of credits claimed by projects aimed at reducing greenhouse gas emissions in the region, their founders said.
Asia Carbon Institute (ACI), which was founded last year by John Lo, Shell’s Singapore-based general manager of trading and supply operations and liquefied natural gas, has launched a non-profit carbon credits registry. The initiative, started last week, is a personal initiative unrelated to the oil and gas giant.
“Asia, factory of the world … is still lacking in regulatory push to incentivise carbon reduction and removal projects investment,” he told the Post. “Voluntary carbon credits trading is one way to fill the gap.”
Three days before the launch of ACI’s registry, Hong Kong-based Carbonbase, a provider of technology for measuring, reducing and offsetting carbon emissions, unveiled Global Climate Registry in partnership with sustainability venture-capital firm ImpactX and distributed-ledger technologies promoter HBAR Foundation.
Both registries aim to reduce the long processing times Asian project developers face when applying to have their projects’ credit claims accepted by established overseas registries such as Washington-based Verra and Switzerland-based Gold Standard.
