The International Carbon Emission Exchange officially opened its doors in Macau yesterday, and the Macao Carbon Neutral Research Institute was established on the same day, aiming to contribute to the appropriate diversification of Macau’s economy.
A joint opening ceremony for the two entities was held yesterday at The Venetian Macao in Cotai, with Chief Executive Ho Iat Seng, Secretary for Transport and Public Works Raimundo do Rosário, Foreign Ministry Commissioner Liu Xianfa and Liaison Office Deputy Director Lv Yuyin, as well as Chinese Academy of Engineering Academician and Tsinghua University’s Institute for Carbon Neutrality Dean He Kebin and Macao International Carbon Emission Exchange Chairman and YF Capital Co-Founder and Chairman David Yu Feng unveiled the plaques.
Speaking as a representative of Rosário, Commerce and Investment Promotion Institute (IPIM) President Vincent U U Sang expressed his expectation that the two newly-established entities will adhere to an innovation-led approach, making full use of Macau’s advantage of being connected to Portuguese-speaking countries (PSCs) on four continents, linking up the Chinese and foreign markets, becoming a brand-new nexus for climate and finance cooperation, while contributing to the appropriate diversification of Macau’s economy.
He also underlined that low-carbon development is an important direction for the appropriate and diversified development of Macau’s economy.
As the only independent carbon exchange outside of the mainland with social resources, the Macao Emission Exchange is also the only trading platform in China that focuses on cross-border trading solutions for all types of environmental and energy green assets, with the mission of “serving China’s dual-carbon goals* and building a bridge for climate cooperation between China and the world”, providing innovative solutions for China to connect with the international environment products market, while also offering various green products and services to global customers, including carbon-credit products, green energy products, green certification and capacity building for cross-border trading and green investment, among other services.
The Macao Carbon Neutral Research Institute, as an independent think tank focusing on climate change and low-carbon development, is based on the nation’s dual carbon target and Macau’s development strategy of appropriate economic diversification, according to the ceremony.
Focusing on key areas such as low-carbon industry, green finance and the carbon market, the institute aims to carry out cutting-edge policy research, international cooperation and dialogue and incubation of low-carbon industries, various speakers stressed during the ceremony.
One of the speakers, Erik Solheim, former under-secretary-general at the United Nations and former executive director of the UN Environment Programme, emphasised Macau’s linkage between China and the Portuguese-speaking world: “Macau is part of China, but still has a separate system which makes this connection very flexible and pragmatic. Macau is part of China, but it’s also the link to the Portuguese-speaking world. Brazil is one of the most important nations in the world for the green transformation”. Solheim is a former Norwegian diplomat.
* China’s dual-carbon goals refer to its commitment to achieving carbon peaking by 2030 and carbon neutrality by 2060.
Chief Executive Ho Iat Seng (third from right), Deputy Director of the Liaison Office of the Central People’s Government in the Macau Lv Yuyin (third from left), Commissioner of the Commission of the Ministry of Foreign Affairs of the People’s Republic of China in Macau Liu Xianfa (second from right), Secretary for Transport and Public Works Raimundo do Rosário (second from left), Chinese Academy of Engineering Academician and Tsinghua University Institute for Carbon Neutrality Dean He Kebin (right), and Co-Founder and Chairman of YF Capital and Chairman of Macau International Carbon Emission Exchange David Yu Feng officiate at yesterday’s unveiling ceremony of the Macao Emission Exchange and Macao Carbon Neutral Research Institute, at the Venetian Macao in Cotai. – Photo by the organisers
Commerce and Investment Promotion Institute (IPIM) President Vincent U U Sang addresses yesterday’s opening ceremony. – Photo: Yuki Lei
