Hong Kong Exchanges Completed Cross-Border Green Pilots
The pilot programs successfully integrated carbon and power trading systems between Hong Kong and mainland China.
Updated on Oct. 13, 2026 in Environmental
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Hong Kong Exchanges and Clearing (HKEX) has completed pilot programs for cross-border green product trading with exchanges in Guangzhou and Shenzhen. Through the Core Climate platform, 15 companies purchased a total of 100,000 Green Electricity Certificates.
Why it matters
These pilot programs support regional efforts to align carbon trading systems and meet national dual-carbon goals. The integration enables a more unified mechanism for firms to manage their environmental impact across borders.
Each Green Electricity Certificate represents one megawatt-hour of renewable electricity, with the Core Climate platform serving as the primary settlement mechanism. The infrastructure successfully facilitated Shenzhen Emission Allowance transactions alongside Guangzhou power exchange trades.
The players
Hong Kong Exchanges and Clearing
A global financial market operator that manages trading infrastructure and clearing services for securities and derivatives.
Guangzhou Power Exchange Centre
A regional electricity trading hub in China facilitating the purchase of renewable energy credits.
Shenzhen Green Exchange
A regional environmental commodity market that manages emission allowances and green financial products.
The details
The Core Climate platform, which launched in 2022, acts as an intermediary for trading carbon credits and environmental instruments. Companies acquire certificates through the Guangzhou Power Exchange Centre, while the platform handles the clearing and settlement process. This integration creates a bridge between mainland China's power markets and international firms operating via Hong Kong.
Timeline
The Core Climate platform launched in 2022.
The pilot programs completion was announced in October 2026.
The Tech Race
These pilot programs mark a tangible step toward integrating cross-border environmental markets under China's dual carbon goals. They establish a functional link that positions the Core Climate platform as a central hub for regional green commodity settlements.
Corporate users of the Core Climate platform will gain expanded access to cross-border carbon credits and electricity certificates once the commercialization phase begins. While pricing is not yet public, this infrastructure enables organizations to standardize their regional environmental reporting.
The takeaway
The successful pilot programs indicate a transition from experimental status to commercial-ready infrastructure for regional green markets. Stakeholders should monitor upcoming announcements regarding the formal commercialization schedule for Green Electricity Certificates on the Core Climate platform.
Further reading
Learn more about the latest innovations in Environmental policy and cross-border trade integration.
Source note: This article includes information reported by South China Morning Post.
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