French carbon exchange BlueNext and the China Beijing Environmental Exchange (CBEEX) have signed an agreement to share Clean Development Mechanism (CDM) market intelligence and promote Chinese CDM projects to the international carbon trading community.
According to CBEEX general manager Mei Dewen, the cooperation agreement means Chinese CDM projects “could have more international buyers”.
Under the terms of the agreement, CBEEX’s prime database of Chinese CDM projects will be available through BlueNext’s website, while BlueNext will lend its expertise in international carbon markets to CBEEX. Both firms will seek to promote each other through a cross-marketing agreement.
“This is another step in our wish to expand our market into the great potential that is
China, and the rest of Asia; but also another step in our long held ambition to be the
reference point for a single international price for carbon,” said BlueNext’s chairman and CEO Serge Harry.
CDM has already enjoyed considerable success in China, with Chinese projects accounting for the lion’s share of global Certified Emissions Reductions generated by the UN-backed scheme.