HONG KONG SAR – Media OutReach – August 31, 2023 – Asia Carbon Institute (ACI), a pioneering voluntary carbon credit registry in Asia, is officially launched today at CIC – Zero Carbon Park in Hong Kong. The Inaugural Ceremony welcomed the esteemed guests of honor, Mr. Chan Ho Lim, Joseph, JP – Under Secretary for Financial Services and Treasury, HKSARG, and Dr. Samuel Chui, JP – Director of Environmental Protection , HKSARG, among other distinguished guests and industry leaders. The typhoon signal was raised just before and during the event, but never affected the strong support from guests and representatives from government, finance, business, industry and stakeholders at all levels. More than 150 guests from various sectors including government, academia, industry and environmental organizations joined the event to witness this milestone in promoting sustainable development in Asia.
Asia’s rapid economic growth and significant greenhouse gas emissions require the adoption of sustainable practices. Voluntary carbon credit standards and registries play a crucial role in encouraging sustainability and attracting investment. However, the lack of a carbon credit quality standard in Asia is hampering market growth and inhibiting associated ecosystems and businesses in the region.
To address this urgent need and accelerate the transition to a low-carbon economy in Asia, the ACI was established as a voluntary carbon credit registry. ACI is a non-profit organization dedicated to promoting sustainable climate action across Asia and beyond. As a leading voluntary carbon credit standards body and registry, ICA is focused on developing and implementing positive climate initiatives and tailored solutions that address unique environmental challenges and opportunities. of Asia.
“The Asia Carbon Institute’s launch of the Voluntary Carbon Credit Registry in Asia reflects the growing adoption of carbon credit trading by businesses as a strategic response to climate change,” said Mr. Chan Ho Lim, Joseph, JP, Undersecretary for Financial Services and Treasury, HKSARG. “Voluntary carbon credits are more than just a financial instrument. They have the power to channel private capital into critical climate action projects, facilitating investment in innovative, technology-driven solutions.”
Dr. Samuel Chui, Director of Environmental Protection of HKSARG, expressed his support, saying: “The establishment of the ACI perfectly aligns with our goals of mitigating climate change and achieving neutrality. carbon. We look forward to collaborations with ICA to promote sustainability and drive the adoption of carbon credit standards in the region.
During the inaugural ceremony, a Memorandum of Understanding (MOU) was signed between ACI and BSI, a renowned global trading standards company. The collaboration aims to enhance ACI’s capabilities in assurance and verification, innovation, development of new standards, and marketing and communications initiatives.
John Lo, Founder of ICA, expressed his delight at the inauguration and signing of the MoU, saying, “Today’s launch represents an important milestone on our journey to promote sustainability. and to create a voluntary and dynamic carbon credit market in Asia. Working with BSI will further strengthen our ability to provide assurance, drive innovation and set new standards, ultimately leading to a more sustainable and resilient future.
Professor Christine Loh, SBS, JP, OBE – ACI International Advisor, said: “ACI is a vital non-profit platform based in Asia with bases in Hong Kong and Singapore. This is what our region needs in the era of “We need a platform that understands conditions in Asia. Congratulations to the ACI for carrying out the verification of carbon credits and providing a registry, this which should be of great interest.”
The inaugural ceremony also featured a panel discussion led by Professor Christine Loh, SBS, JP, OBE, International Advisor to the ACI. Distinguished panelists, including industry leaders from CLP, Sino Group, China Resources Environmental Technology Ltd and the Climate Commissioner of the Environment and Ecology Bureau of the HKSAR Government, shared their views on the challenges they face, the measures they are implementing and their expectations. of the ACI as a platform for short- and medium-term actions to address carbon-related issues in Hong Kong, Singapore and Asia.
At the event, Dr. LO Wai Kwok, SBS, MH, JP, shared his view that “Hong Kong still plays a critical, important and functional role, both on the international stage and in the Asian region. common goal for all, today’s creation of the ACI Hong Kong chapter offers us a unique Asian platform option with credibility, transparency and even opportunities.
Similar comments and support were echoed by Ms Linda Ho, CEO of Green Council during her closing speech. Linda highlighted that “ACI is a platform created and based in Asia that engages international, regional and local professionals to advocate for decarbonization through a high level of governance and collaboration. The ACI Singapore and Hong Kong chapters stand ready to serve and work with stakeholders with diversity and professionalism.”
Asia Carbon Institute – A voluntary carbon credit registry in Asia represents an important step towards a sustainable, carbon-neutral future. ACI is committed to promoting robust carbon credit standards, fostering a thriving voluntary carbon credit market in Asia, and driving the region’s transition to a low-carbon economy.
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