Global Carbon Council Signs Strategic Partnership to Expand Carbon Finance, Strengthen Carbon Market Infrastructure Across Asia

Hong Kong, July 09 (QNA) - The Global Carbon Council (GCC) signed a strategic Memorandum of Agreement (MoA) with CGS International Holdings Limited, a leading financial services group with strong institutional market, investment banking and carbon financial capabilities, and Verdana HK Limited, a Hong Kong-based technology and digital infrastructure provider for carbon market operations, during the Asia Climate Summit (ACS) 2026 at the Hong Kong Convention and Exhibition Centre.

In a statement on Thursday, GCC said the partnership establishes a Hong Kong-based carbon register and independent carbon finance facilitation platform for GCC-approved projects across China and the Hong Kong region, strengthening carbon market infrastructure while creating more predictable pathways for climate finance and supporting the future climate finance flows towards operationalization of Article 6.2 of the Paris Agreement.

The collaboration comes at a time when governments and market participants across Asia are accelerating efforts to operationalize Article 6 of the Paris Agreement and strengthen trusted carbon market infrastructure. It also aligns with Hong Kong's ambition to reinforce its position as an international green finance and climate finance center by enhancing connectivity between domestic, voluntary and compliance carbon markets.

For many years, GCC has consistently maintained that predictable and transparent carbon finance is fundamental to accelerating climate action globally. While demand for high-integrity carbon credits continues to grow, project developers often face uncertainty in accessing reliable carbon finance and connecting with institutional buyers.

Through this partnership, GCC is taking a practical step towards addressing these challenges by endorsing a dedicated carbon register and independent carbon finance facilitation platform for GCC-approved projects in China and the Hong Kong region. The platform is designed to improve access to project finance and carbon finance, strengthen investor confidence, and create greater predictability for project developers participating in high-integrity carbon markets.

GCC shall maintain its neutral and robust regulatory and facilitation role while letting the market actors take the benefit of independent carbon finance facility operated by the consortium of CGS International Holdings Limited (CGI) and Verdana HK Limited.

Commenting on the partnership, Dr. Yousef M. Alhorr, Founding Chairman of the Global Carbon Council (GCC), said, "For many years, GCC has consistently maintained that predictable carbon finance is fundamental to accelerating climate action.

This collaboration translates that vision into practical implementation by establishing a dedicated carbon register and independent carbon finance facilitation platform for GCC-approved projects in China and Hong Kong. While the platform will initially support voluntary carbon markets, it has been designed with the future in mind.

By leveraging GCC's Carbon Market Infrastructure, we are creating the foundation for more efficient and transparent Article 6.2 implementation, enabling trusted climate finance pathways that support governments, businesses and project developers in delivering meaningful climate action."

Under the agreement, GCC will provides the internationally recognized carbon standard, governance framework, dedicated carbon register and Carbon Market Infrastructure (CMI) to support the establishment of the HKCRSB. This will facilitate stakeholder engagement and client services across Hong Kong, China and the wider region.

Fan Minfei, Chairman of CGS International Holdings Limited, said, "Hong Kong is uniquely positioned to connect international capital with climate action. Through our collaboration with GCC and Verdana HK, we are building a platform that enhances access to climate finance, connects institutional investors with climate action and high-integrity carbon projects, and strengthens Hong Kong's role as a regional gateway for trusted carbon markets and sustainable finance."

CGS International will contribute its expertise in fundraising, institutional engagement and investor outreach to support the development of the platform, while Verdana HK Limited will establish and operate the Hong Kong Carbon Register and Services Body (HKCRSB), providing registry operations and carbon finance facilitation services.

Together, the partners will support project onboarding, registry account management, institutional buyer engagement, carbon credit transfer and retirement services, reporting workflows, and project finance facilitation for GCC-approved projects.

Asad Sultan, Chief Executive Officer of Verdana HK Limited, said, "Digital infrastructure is the backbone of modern carbon markets. By establishing a dedicated carbon register and carbon finance facilitation platform for GCC-approved projects, we are creating the institutional and technological foundation required to improve market transparency, streamline carbon market transactions and support future interoperability with Article 6 and other international carbon market mechanisms."

The platform will initially support voluntary carbon market activities by facilitating project registration, carbon finance, institutional buyer access and registry services for GCC-approved projects. Looking ahead, the partners intend to leverage GCC's fully digitized Carbon Market Infrastructure (CMI) to enable interoperable registry systems supporting Article 6.2 of the Paris Agreement.

This will facilitate more efficient carbon finance, improve transparency in carbon market transactions and create trusted pathways for the transfer of Internationally Transferred Mitigation Outcomes (ITMOs) in accordance with applicable national policies and international frameworks.

The collaboration also establishes Hong Kong as a regional gateway for GCC-approved projects across Greater China, connecting project developers, financial institutions, corporates and investors while expanding access to international climate finance.

By bringing together GCC's internationally recognized carbon standard and digital carbon market infrastructure with CGI's financial expertise and Verdana HK's technology and implementation capabilities, the partnership creates an integrated ecosystem that combines carbon market infrastructure with carbon finance facilitation.

The partnership builds on GCC's growing presence in Asia. GCC currently supports climate projects across more than 50 countries and has received over 150 project submissions from China, representing the potential issuance of more than 500 million carbon credits over a 10-year crediting period.

The launch of HKSRSB is likely to accelerate climate actions across China, Hong Kong and the region as well as globally taking into account the futuristic climate finance via Article 6.2 implementation using GCC's Carbon Market Infrastructure.

This growing project pipeline reinforces the need for dedicated carbon market infrastructure and carbon finance facilitation to connect high-integrity projects with international climate finance. (QNA)