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Tianjin Climate Exchange

In September 2008, we jointly established the Tianjin Climate Exchange (TCE) with the Tianjin Property Rights Exchange Center and the Chicago Climate Exchange, with CNPC owning 53% of its stock. TCE, China's first climate exchange agency, is an international trading platform committed to energy saving and pollution reduction. It trades in credits of major pollutants such as sulfur dioxide and COD as well as energy-efficient products. The energy conservation and emission reduction projects conducted by TCE can save energy of over 200,000 tons of standard coal, equivalent to CO2 emission of over 500,000 tons on a yearly basis.

On December 23, 2008, TCE completed China's first Internet-based trading in sulfur dioxide emission indicators.

In 2011, TCE worked with Pacific Millennium Paper Group Ltd, and the Netherlands CVTD Consultation Company to sign a carbon neutralization and trading contract with the British Standards Institution, and bought 20,000 metric tons of voluntary carbon emission, completing first of its kind in China’s mainland based on PAS 2060 carbon neutralization standards.

In 2012, a financing vehicle dedicated to energy-saving service companies was set up jointly by TCE, Shanghai Pudong Development Bank, Industrial Bank, and ESCO Committee of China Energy Conservation Association. We also participated in the discussion of China’s Climate Change Response Act in terms of conceptual design, public engagement, legal responsibilities and adoption of international standards.

In 2013, we set up theplatform for enterprises to participate in energysaving and emission reduction.

In 2015, we completedthe largest CCER (Chinese Certified Emissions Reduction) transaction in China, with a tradingvolume of 506,125 tons.

In 2016, the China Carbon Market Capacity Building (Tianjin) Center was established to help enterprises in non-pilot areas enhance their capacity in low-carbon development and carbon market participation.

In 2017, technically prepared the initial emission right verification and quota management according to China's planning for the establishment and operation of the carbon emission trading system.