Asia Carbon Institute Launches Voluntary Carbon Credit Registry in Hong Kong

Asia Carbon Institute (ACI), a non-profit organization dedicated to promoting sustainable climate action in Asia, was officially launched at the CIC – Zero Carbon Park in Hong Kong amid a typhoon signal. The event was attended by prominent government officials and environmental experts.

The rapid economic growth in Asia has led to significant greenhouse gas emissions, making the implementation of sustainable practices imperative. However, the absence of a quality carbon credit standard in the region has hindered market growth and limited related businesses.

To address this issue, ACI has positioned itself as a voluntary carbon credit standards body and registry. It aims to develop and implement climate-positive initiatives and tailored solutions to overcome the unique environmental challenges faced by Asia.

During the launch ceremony, ACI signed a Memorandum of Understanding (MOU) with BSI, a global business standards company, to enhance its capabilities in assurance and verification, innovation, development of new standards, and marketing and communication initiatives.

Chan Ho Lim, a government official, emphasized that the establishment of ACI reflects the increasing adoption of carbon credit trading as a strategic response to climate change. Voluntary carbon credits not only serve as financial instruments but also have the power to drive investments in innovative, technology-driven solutions that combat climate change.

Additionally, a panel discussion led by Prof. Christine Loh, an International Advisor of ACI, featured 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. They shared insights on the challenges faced in addressing carbon-related issues and expressed their expectations from ACI as a platform for taking short and medium-term actions in Hong Kong, Singapore, and Asia.

The establishment of ACI marks a significant milestone towards achieving a sustainable and carbon-neutral future. The organization 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. The support from government officials, industry leaders, and environmental organizations highlights the importance and potential impact of ACI’s work in the region.

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