Hong Kong, 31 August 2023 – Asia Carbon Institute (ACI), a pioneering voluntary carbon credit registry in Asia, officially launches today in Hong Kong. The inaugural ceremony welcomed esteemed Guests of Honour, Mr. Chan Ho Lim, Joseph, JP – Under Secretary for Financial Services & the Treasury, HKSARG, and Dr. Samuel Chui, JP – Director of Environmental Protection, HKSARG, among other distinguished guests and industry leaders. Over 130 guests from various sectors, including government, academia, industry, and environmental organizations, joined the event to witness this significant milestone in promoting sustainability in Asia.
Asia’s rapid economic growth and significant greenhouse gas emissions necessitate the adoption of sustainable practices. Voluntary carbon credit standards and registries play a crucial role in incentivising sustainability and attracting investments. However, the absence of a unified carbon credit standard in Asia hampers market growth and inhibits related ecosystems and businesses in the region.
To address this pressing need and accelerate the transition to a low-carbon economy in Asia, Asia Carbon Institute (ACI) has been established as a voluntary carbon credit registry. ACI is a non-profit organization dedicated to promoting sustainable climate action throughout Asia and beyond. As a leading voluntary carbon credit standards body and registry, ACI focuses on developing and implementing climate-positive initiatives and tailored solutions that address Asia’s unique environmental challenges and opportunities.
“The launch of Asia Carbon Institute marks a significant milestone in promoting sustainable practices and driving the transition to a low-carbon economy in Asia,” stated Mr. Chan Ho Lim, Joseph, JP, Under Secretary for Financial Services & the Treasury, HKSARG. “By providing a robust carbon credit registry, ACI will play a vital role in encouraging sustainable investments and fostering a thriving voluntary carbon credit market in the region.”
Dr. Samuel Chui, JP, Director of Environmental Protection, HKSARG, expressed his support, saying, “The establishment of Asia Carbon Institute aligns perfectly with our goals of mitigating climate change and achieving carbon neutrality. We look forward to collaborations with ACI 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 the British Standard Institution (BSI). The collaboration focuses on assurance and verification, innovation, and development of new standards.
John Lo, Founder of Asia Carbon Institute, expressed his delight at the inauguration and the signing of the MOU, stating, “Today’s launch represents a significant milestone in our journey to promote sustainability and create a vibrant voluntary carbon credit market in Asia. The collaboration with BSI will further strengthen our ability to provide assurance, drive innovation, and establish new standards, ultimately leading to a more sustainable and resilient future.”
The inaugural ceremony also featured a panel discussion led by Prof. Christine Loh, SBS, JP, OBE, International Advisor of ACI. Distinguished panelists, including industry leaders from CLP, Sino Group, China Resources Environmental Technology Ltd, and representatives from the HKSAR Government, shared their insights on the challenges they face, measures they are implementing, and their expectations of ACI as a platform for short and medium-term.
Asia Carbon Institute – A Voluntary Carbon Credit Registry in Asia signifies a significant step toward a sustainable and 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.