Hainan international carbon emission trading center expected to open in H2

Aerial view of Tenghai fishing village is seen in Sanya, south China's Hainan Province, July 9, 2021. (Xinhua/Zhang Liyun)

Hainan international carbon emission trading center located in south China's Hainan Province is expected to start operation in the second half of this year, reported Hainan Daily on March 19.

On February 7, Hainan authority approved the establishment of the Hainan international carbon emission trading center to promote low-carbon transformation of economy and society through carbon finance.

Preparation for the operation of the carbon trading center is progressing at a full tilt, according to a meeting for boosting the establishment of the center.

Hainan is rich in ocean carbon sink (blue carbon) resources. Through the market-oriented trading of blue carbon products, Hainan international carbon emission trading center will promote Hainan's blue carbon methodology to become an internationally recognized standard and be incorporated into the international marine governance system, according to the meeting.

Hainan international carbon emission trading center will also provide a strong capital market support platform for all kinds of carbon financial products.