China’s first environment exchange --- China Beijing Environment Exchange (www.cbeex.com) officially unveiled China’s first voluntary emission reduction standard --- the Panda Standard Version 1.0 together with its strategic partner, the world’s leading carbon spot trading exchange --- BlueNext (www.bluenext.eu) at the 15th Conference of the Parties (COP15) to the United Nations Framework Convention on Climate Change on December 16th in Danish capital of Copenhagen.

　　It’s reported that the Panda Standard was joinly released by four players including China Beijing Environment Exchange and BlueNext as the initiators, along with China Forestry Exchange (CFEX) and the well-known NGO Winrock International of the United States as the co-initiators. In compliance with international market rules and China’s national conditions as a developing country, the Standard aims to offer a complete set of project development tools and rule system for China’s carbon emission reduction projects. Proceeded from such industries as agriculture and forestry that are external economy-oriented and ecological poverty alleviation driven, it is expected to be expanded gradually towards emission reduction sectors as transportation and construction based on the actual needs and finally develope into a voluntary emission reduction standard widely recognized in both domestic and international markets in the coming years.

　　More than a hundred distinguished guests attended the Panda Standard presse conference, including Lv Xuedu, Deputy Director of National Climate Centre (NCC) of China Meteorological Administration (CMA); Li Junfeng, Deputy Director of Energy Research Institute of National Development and Reform Commission; Pan Jiahua, Director of the Centre for Urban Development and Environment at the Chinese Academy of Social Sciences; Wei Zhihong, Professor at Tsinghua University; Lin Erda, Professor at Chinese Academy of Agricultural Sciences; Mei Dewen, General Manager of China Beijing Environment Exchange; Jin Guoliang, Deputy General Manager of China Beijing Environment Exchange; Jiang Qinghong, Director of Hebei Property Rights Exchange Center; Zhang Hanwen, Director of Hunan CDM Project Service Center; Wang Jichang, Director of Shanxi Atmosphere CDM Technology Center; Deli Du, Chairman of the Board of Directors, Deli Solar Technology Development (Beijing) Ltd.; Huang Daolin, Chairman of Henan Tianshi Group Corp.; Frank Tugwell, President and CEO of Winrock International; Serge Harry, Chairman of Bluenext; David Yarnold, Executive Director of Environmental Defense Fund (EDF); Dr. Zhang Xiaoquan, scientist from The Nature Conservancy (TNC); David Antonioli, CEO of Voluntary Carbon Standard (VCS); Dr. Andy from the World Agroforestry Center (ICRAF); Dr. Martin Bergfelder, Project Manager of International Carbon Action Partnership (ICAP); Dr. An Feng, Director of Innovation Center for Energy and Transportation (ICET); Bao Na, President for International Affairs of the Chicago Climate Exchange (CCX); Ru Song Hwan, President of Korean Carbon Finance (KCF); Chong Chan Yau, former Executive Director of Oxfam Hong Kong, as well as many other domestic and foreign institutions such as Duke Energy, APX Inc., and Caisse des Depots (CDC) (a French government-controlled bank).

　　The experts and scholars participating in the presse conference reiterated that the establishment and development of the Standard are conducive to promoting statistics making, reporting, and monitoring of China’s energy-saving emission reduction as well as the market system construction, favorable to the establishment of long-term effective mechanisms of ecological poverty alleviation and ecological compensation via voluntary emission reduction market, and also helpful to improve the voluntary emission reduction initiative of Chinese enterprises and individuals, thus accelerating the development process of China’s low-carbon economy and low-carbon society.

　　For more details about Panda Standard, please visit the websites of China Beijing Environment Exchange and BlueNext.

　　http:// www.cbeex.com http:// www.bluenext.eu

　　 Introduction to the Sponsors

　　 1. China Beijing Environment Exchange

　　Founded on August 5, 2008 with the authorization from Beijing Municipal Government, China Beijing Environment Exchange (CBEEX) is a professional market platform for trading various environmental equities. It is an corporative institution for open and centralized transactions of environment equities, which was initiated by China Beijing Equity Exchange (CBEX), The New Energy Investment Ltd. of China National Offshore Oil Corp., China Guodian Corp., and China Everbright Investment Management Corp. Through its advanced transaction system and extensive network of membership and partnership, CBEEX tends to realize optimization of resource allocation, minimization of pollution abatement cost and transaction cost, as well as effectiveness of environmental governance. Therefore, CBEEX regards the development of resource-saving and environment-friendly society as its own responsibility, and contributes to the realization of sustainable development through financial innovation.

　　2. BlueNext

　　BlueNext is an environmental equity market, jointly founded by the world’s largest and most liquid exchange group NYSE Euronext which holds 60% of the shares and French government-controlled bank, Caisse des Depots. It is currently the world’s largest spot transaction market of carbon dioxide emissions, accouting for 93% of the market shares, with trading species covering the spot and futures trade-offs of carbon dioxide emissions rights.

　　3. China Forestry Exchange

　　China Forestry Exchange (CFEX) is a state-owned company established in 2009 with the approval by the State Council, the State Forestry Administration and Beijing Municipal Government. CFEX is a comprehensive nationwide trading exchange for forestry rights and assets established to maximize the value of domestic forestland by attracting domestic and international capital. CFEX is committed to helping the reform of the forestry system in China and its transition towards sustainability.

　　4. Winrock International

　　Winrock International is a non-profit organization that works with people in the United States and around the world to empower the disadvantaged, increase economic opportunity, and sustain natural resources. As a critical part of meeting this mission, Winrock is committed to building capacity for actions that address climate change and prepare for adaptation. Winrock is a leader in developing science-based carbon measurement and monitoring standards and protocols. Winrock also runs the American Carbon Registry (ACR), a voluntary offset program in the United States with over a decade of operational experience in high quality carbon offset issuance and transparent on-line transaction reporting. ACR has issued over 30 million project-based carbon offsets, and was the most widely used voluntary carbon market registry in the world in 2008.