Shanghai Pacific Millennium Packaging and Paper Industries Company has purchased 6,266 tons of carbon emission offsets from Xiamen HSE Environmental Engineering Consulting Company, as a step towards becoming a zero-emission enterprise.
The transaction is said to be the first carbon-footprint-examination based carbon offset approach in China.
It is learned that SPMPPICL purchased these carbon emissions offsets from Yangkou Hydropower Station, a power project developed by Fujian Shunchang Yangkou Hydropower Company, a branch of Xiamen HSE which provides diversified consulting services as well as environment assessment, energy audit, and international trade services.
Mu Lingling, the deputy general manager of Tianjin Climate Exchange, said that after the purchase of the carbon emission, SPMPPICL's emissions will be offset and the company will have zero emissions. But Mu did not disclose the actual price involved in the transaction.
A representative from SPMPPICL said that it is a key step for SPMPPICL to fulfill the voluntary carbon index reduction through paying for price equity, and the company hopes to become the foremost company in China's packaging industry through this move.
Tianjin Climate Exchange is the first emission equity transaction institution in China. Its shareholders include Zhongyou Assets Management Company, Tianjin Property Rights Exchange, and Chicago Climate Exchange.