China's first national emission trading marketplace, the Tianjin Emissions Exchange, unveiled to the public 50 days after the Beijing Environment Exchange and the Shanghai Environment and Energy Exchange were set up.
Chicago Climate Exchange, North America's only, and the world's first, global marketplace for integrating voluntary legally binding emissions reductions with emissions trading and offsets for all six greenhouse gases, will provide technology and system support for the Exchange, owning 25% of the shares. The other two equity participants are CNPC Assets Management (53%) and Tianjin Property Rights Exchange (22%).
The Exchange aims to reply to the challenges of environmental pollution and energy shortage, explore the energy saving and emission reduction mechanism with Chinese characteristics, improve environmental quality, and achieve both environmental and economic benefits.
Like the Beijing and Shanghai exchanges, the Tianjin Emissions Exchange does not cover the trading of CO2 since the relevant government departments are still studying that issue. For now the Exchange mainly focuses on trading of major pollutants such as SO2 and COD, and energy efficiency.