On 9 August 2021 we became the first ever offshore buyer of international standard high integrity carbon credits from China, known as CCER. Our motivation in doing this is not simply to buy carbon credits in support of our Decarbonisation Strategy but to advocate for the adoption of high quality CCERs (i.e. credits that have the most climate impact) and to demonstrate the enormous market potential – with the right projects, willing contracting parties and some thoughtful drafting. This trade will contribute to efforts to build a robust global benchmark for high integrity CCERs.
Thank you Nikkei Asia for featuring this trade in an article and helping us spread the word to persuade others to join us in innovating to contribute solutions to the net zero carbon challenge.
Here is the original article: https://asia.nikkei.com/Spotlight/Caixin/China-s-carbon-market-records-its-first-cross-border-deal.