The Stock Exchange of Hong Kong (HKEX) has launched Core Climate, a new international carbon marketplace that seeks to facilitate the trading of carbon credits and instruments.

Core Climate’s participants will be able to source, hold, trade, settle and retire voluntary carbon credits on the platform, and all projects listed on the marketplace are verified against international standards.

HKEX says that carbon credits on the platform will come from internationally-certified carbon projects from carbon avoidance, reduction and removal projects from around the world.

Core Climate is the HKEX’s latest initiative in its efforts to develop an integrated ecosystem and international carbon market in Hong Kong.

The bourse previously launched an online portal to provide information on sustainable investment products, as well as an ESG Academy to support market education on ESG factors.

The HKEX also formed the Hong Kong International Carbon Market Council and announced that it is exploring collaborations with the China Emissions Exchange earlier this year.

“As a global East/West superconnector, HKEX is strongly positioned to build a vibrant and sustainable voluntary carbon market that brings together climate action ideas, capital and dialogue. Core Climate is the latest in HKEX’s commitment to securing the future of our planet,”

said Nicolas Aguzin, Chief Executive Officer, HKEX.

“We see Core Climate developing to become essential infrastructure, part of our highly connected international ecosystem, matching investment capital with new climate projects, technologies and business models,”

said Glenda So, Co-Head of Markets, HKEX.