Mei Dewen, the general manager of the China Beijing Environment Exchange, has disclosed to local media that China's first voluntary emission reduction standard is expected to be published in September 2009.
This marks a milestone in China's voluntary emission reduction development since its first voluntary emission reduction deal was reached earlier this month.
Mei also revealed that CBEE would work with the Energy Research Institute of the National Development and Reform Commission, BlueNext, American Environmental Defense, and The Climate Group to exchange and cooperate on programs for new energy sources, energy conservation and emission control, and the construction of a carbon finance market.
According to Mei, China is a big user of carbon resources, but it is currently at the lower end of the carbon trading market, and its carbon finance market is relatively backward. He also declared that CBEE would make use of its existing platforms and advantages to gradually build a carbon transaction market and even a carbon transaction financial derivatives market.
It is reported that more than 30 million tons of carbon has been transacted in the past year via CBEE.