On March 24th, it was learned from CNPC that CNPC International London Company recently signed a voluntary carbon emission reduction (VER) trading agreement with bp carbon trading company.
This is the first VER futures target purchased by PetroChina, marking the extension of PetroChina’s carbon trading business from quota trading to VER trading.
According to the content of the agreement, PetroChina International London Company will purchase part of the voluntary carbon emission reductions generated by bp carbon trading company’s photovoltaic projects in India to determine whether it meets the delivery requirements of the New York Mercantile Exchange Global Carbon Offset (GEO) contract, and through the Contracts are hedged and delivered.