The Prospective Forum on Carbon Finance and Cryptocurrency

March 15, 2018 – The Prospective Forum on Carbon Finance and Cryptocurrency, co-held by Xarbon Sustainability Limited, was successfully held on 15th March, 2018 at Stephenson Harwood Law Firm in Admiralty. At the same time, the experts and researchers of the carbon finance and carbon trading market in China, Hong Kong and Taiwan were invited to exchange thoughts, and more than 80 business and academic representatives attended the meeting to discuss the current development of the carbon financial market.

 

Professor Li Jianming, Chairman of Taiwan Low Carbon Society and Green Economy Promotion Association, introduced the latest development trends of international carbon finance and carbon networking in the forum. In recent years, with the growing attention and involvement of global organizations and companies, the carbon trading market has been growing vigorously. With the continuing expansion of carbon market, the carbon price as a trading medium has also increased steadily, driving more participants into the carbon trading market and achieving the ultimate goal of reducing greenhouse gas emissions. After introducing the case of Taiwan’s first negative carbon commodity, Professor Li raised the idea of combining the technology and carbon neutral trading behavior, and successfully launched the first commodity that reached negative carbon emissions, and achieved both carbon neutralization and commercialization. Regarding the mainstream media coverage and research report, negative carbon commodities are widely accepted. The public is also willing to pay higher prices and purchase negative carbon commodities. These show the feasibility of the further development of carbon trading market.

 

Researcher Peng Feng of the Shanghai Academy of Social Sciences introduced the progress and situation of legislative work in the country and in the local area under the premise of the full opening of China’s carbon market. With more complete and sophisticated regulations of carbon trading, China’s carbon emissions trading market has great development potential, and it is expected to become China’s third largest commodity trading market after securities trading and national debt.

 

Mr. Johnny Chong, the Chairman and Founder of Xarbon Sustainability Limited, explained how to employ financial technology as a powerful tool to promote the development of carbon trading. Mr. Chong first introduced the establishment of a tree planting project in various developing countries under the UN REDD+ program. This program has supplied verified carbon rights for trading. The intransparency and complexity of this trading system makes it difficult for the general public to participate. In the case of insufficient liquidity, the carbon trading market in different places cannot be effectively linked. He pointed out that by combining blockchain technology, it is possible to promote an individual-based carbon trading market and generate quantitative effects, thereby an effective carbon trading market can be achieved. An effective invisible hand mechanism will be a big step towards emission reduction.

 

Finally, Mr. Liu Xun, the former COO of the start-up company Snapask and the founding partner of Xarbon Sustainability Limited, introduced the technical part of the blockchain in the carbon trading market. He pointed out that with the high transparency and high liquidity characteristics of blockchain technology, the value of carbon assets can be fully reflected and guaranteed, therefore hopefully the public’s confidence in the carbon trading market will be strengthened.

 

Through this rare opportunity, participants and speakers exchanged minds regarding the prospects of international carbon trading and carbon finance development. With the support of blockchain technology, the general public can participate more effectively and achieve the desired goal of greenhouse gas emissions reduction.

Download the press release here (Available in Chinese)