On May 23rd, during the “Net Zero Emissions Summit” held in the City of London, the China-UK Carbon Market Roundtable Forum was successfully held. The forum mainly discussed the latest developments in the carbon markets of China and the UK, as well as the situation of the resource carbon reduction market. The forum was chaired by Mr. Paget Dare Bryan, partner at Clifford Chance, as well as Dr. Ma Jun and Sir William Russell, the Co-Chairs of the China-UK Green Finance Taskforce, who delivered keynote speeches.
During the roundtable forum session, Professor Wang Yao, who serves as the Director General of the International Institute of Green Finance and Deputy Secretary-General of the Green Finance Professional Committee of the China Society for Finance and Banking, provided valuable insights into the current state of China’s pilot carbon market and the national carbon market. She highlighted the distinctive features of China’s mechanism design compared to the European Union and explored various carbon financial instruments, including carbon futures, carbon quota pledge loans, carbon asset bonds, and carbon insurance. Professor Wang Yao underscored the pivotal role played by the carbon market in China’s pursuit of key objectives such as “peak carbon emissions” and “carbon neutrality.”
The experts present at the event also contributed their perspectives on the progress of the Voluntary Carbon Market (VCM) in the United Kingdom, discussing the main obstacles and engaging in meaningful conversations about potential future advancements. Additionally, they delved into the substantial importance of the Carbon Core Principles (CCP) set forth by the Integrity Committee for the Voluntary Carbon Market (IC-VCM).
The Carbon Market Roundtable Forum saw the participation of numerous experts from financial institutions, academic institutions, and relevant service organizations from China and the UK. The forum carries great significance in promoting the exchange of experiences and facilitating the sharing of knowledge to propel the advancement of the carbon market.