Total Global Steel Awarded Place on the China Beijing Environment Exchange
Total Global Steel has recently been awarded a coveted position on the China Beijing Environment Exchange (CBEEX). http://www.cbeex.com.cn/article/hyfw/hyml/
Total Global China (“TGS”). a wholly-owned Chinese subsidiary Total Global Steel one of the UK’s fastest growing commodities traders and member of the LME, Bluenext and EEX, has become the first ever Foreign-owned member of the China Beijing Environment Exchange.
The China Beijing Environment Exchange (“CBEEX") (www.cbeex.com.cn) is a subsidiary of the China Beijing Equity Exchange and has over 45 members. Set up in 2008 CBEEX is a comprehensive environmental equity transaction institution authorized by the Beijing Municipal Government.
As a member of CBEEX, TGS will be able to trade through a public platform in China that enables it to provide carbon management and offsetting services to both companies and individuals. The Beijing Exchange is developing a strong Voluntary carbon offset trading market and will develop its own Panda standard through various projects. Companies who choose to offset their carbon emissions through the exchange will be fully recognised and promoted as members of the Low Carbon Union.
Darren Barrows, Director TGS Asia said:
“This is a very proud day for our Chinese Company and the Group as a whole, and we are delighted to have the honour of being listed on the Beijing Environment Exchange particularly as the very first foreign-owned member.
We are looking forward to working closely with the Beijing Exchange to develop the carbon business in China. This is a crucial time for China, where the phenomenal economic growth must be balanced with environmental consideration in order for the Government’s 2020 targets on emissions to be met. We are very excited to be given the chance to play some part in overcoming these challenges.
Our Chinese company will provide both corporate and personal offsetting services through the Exchange including Carbon Footprint Evaluations and trade of Voluntary Credits in RMB / multi-currencies. We will also be promoting the Low Carbon Union Group and developing our unique low-energy heating product which is scheduled to be launched in China during Q4 2010.
We would also like to thank the UK government departments in both London and China who have been very supportive of our business in Asia. Particular thanks must go to the UK’s Climate Change Projects Office, UK Trade & Investment and China Britain Business Council.”