On March 24, Guangzhou Carbon Emission Trading Center Co., Ltd. (Guangzhou carbon exchange), the only carbon emission trading platform in the province, announced the signing of a memorandum of cooperation with Hong Kong Exchanges and Clearing Co., Ltd. (Hong Kong exchange) to explore cooperation opportunities in the field of carbon finance, jointly deal with global climate change and promote sustainable development. Founded in 2012, Guangzhou carbon exchange is subordinate to Guangzhou Trading Group. It is the only designated carbon emission quota paid issuance and market trading platform in Guangdong Province. It is also the designated trading institution of national certified voluntary emission reduction (CCER). As one of the seven pilot carbon trading exchanges in China, the Guangzhou carbon exchange traded 27.51 million tons of carbon emission quotas in 2021, ranking first among the pilot trading platforms in China. According to the memorandum of cooperation, in the future, the two sides will jointly explore the deepening development of the regional carbon market, create a voluntary emission reduction mechanism suitable for Dawan District, and help the country achieve the goal of carbon peak and carbon neutralization. The two sides will also give full play to their respective advantages, carry out exchanges on the carbon market and carbon finance, and actively study the rules, standards and paths of the international carbon market, so as to support the international construction of China's carbon market. Ou Guansheng, chief executive of HKEx group, said: "Developing a long-term market and business is the core of HKEx's commitment to sustainable development. We are happy to cooperate with Guangzhou carbon exchange to actively explore new opportunities for carbon market and carbon finance. Hong Kong and Guangzhou will play an important role in promoting green finance and sustainable development in Dawan district. We look forward to cooperating with Guangzhou carbon exchange to promote the development of low-carbon economy in Dawan district and other regions." Luo Junfu, chairman of Guangzhou Trading Group, said: "The tide of global green development and low-carbon transformation is rising. The Guangzhou carbon exchange has explored the path of promoting the realization of the dual carbon goal with a market-oriented mechanism earlier in the country, actively helped Guangdong, Hong Kong and Macao Dawan District cope with climate change and sustainable development, and has rich practical experience in the carbon market and related green financial services. I am very glad to work with the Hong Kong stock exchange to give full play to the advantages of both sides, base on the Dawan district and connect with the international community, and continue to promote the development of the region "Green transformation and high-quality development in the region." (Xinhua News Agency)