28 Dec 2009
Sandor: China’s “Intensity” Plan a Bridge to Carbon Cuts
Chicago Climate Exchange Chief to Attend January Asian Financial Forum
28 December 2009 – The Chinese mainland’s offer to reduce its carbon “intensity” rather than actual emissions should be viewed as a bridge to international cooperation in reducing greenhouse gasses, according to Richard Sandor, founder and Chairman of the Chicago Climate Exchange.
Chinese negotiators at the recent Copenhagen climate summit offered a 40 per cent cut in emissions relative to the size of its economy, sparking a chorus of criticism about the talks. Dr Sandor, who heads the world’s only cap-and-trade system, which covers six major greenhouse gases, says the world should view the mainland’s first international agreement on carbon reduction as a step forward.
“We believe that carbon trading will evolve among sovereign nations around the world, and that we will have what I would like to call a ‘pluralateral’ trading regime,” says Dr Sandor.
Speaking in advance of the Asian Financial Forum (AFF) 2010, Dr Sandor’s interview with the Hong Kong Trade Development Council (HKTDC) also includes his prediction that markets in Europe, North America, China, India and Japan will ultimately be “linked by some sort of financial instrument, like a certified emission reduction.”
Please visit www.youtube.com/HKTDC to view the full interview.
Dr Sandor also says he is “very optimistic that China and India will play an incredible role in not only economic growth, but one that is sustainable and will serve and help job growth, technology changes and, in fact, a cleaner and greener Asia.”
Mr Sandor will attend the AFF, 20-21 January at the Hong Kong Convention and Exhibition Centre. Under the theme “Asia in the New Economic Order,” AFF 2010 is being organised by the Hong Kong Special Administrative Region Government and the HKTDC.
Global investment opportunities, regional infrastructure issues and energy and natural resources concerns will also find the spotlight in January. In addition to Dr Sandor, other major AFF speakers include Dominique Strauss-Kahn, International Monetary Fund Managing Director; Gerald Corrigan, former President, Federal Reserve Bank of New York and Managing Director, Goldman Sachs; Liu Mingkang, Chairman, China Banking Regulatory Commission; and Lou Jiwei, Chairman and Chief Executive Officer, China Investment Corporation.
Along with the Dr Sandor interview, the HKTDC webcast service at www.youtube.com/HKTDC carries discussions with other AFF 2010 speakers, including Morgan Stanley Asia Pacific Chairman Stephen Roach, US economist Professor Nouriel Roubini, Peter Wong, Executive Director of HSBC and Sir David Brewer, Chairman of the Britain-China Business Council.
Please contact the HKTDC's Corporate Communication Department:
Tel: (852) 2584 4216
About the Asian Financial Forum 2010
The Asian Financial Forum (AFF) gathers some of the world's most influential economic experts and dynamic business leaders for groundbreaking discussions about the opportunities and challenges now facing Asia. AFF offers bankers, institutional investors, fund managers, business leaders, senior executives of high-growth corporations and other key financial players a place to build new contacts and gather the latest intelligence, as well as explore business opportunities with a focus on China and the rest of Asia. Visit http://www.asianfinancialforum.com for more information about AFF 2010.
About the HKTDC
Established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 offices worldwide, including 11 in the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and the mainland, while providing information via trade publications, research reports and online. For more information, www.hktdc.com