CICC Arm Launches First Carbon Futures ETF in China

China International Capital Corporation Hong Kong Asset Management Limited, a wholly owned subsidiary of China International Capital Corporation Limited, announced the launch of the CICC Carbon Futures ETF, the first of its kind in Greater China.

March 24, 2022. By News Bureau

China International Capital Corporation Hong Kong Asset Management Limited, a wholly owned subsidiary of China International Capital Corporation Limited, announced the launch of the CICC Carbon Futures ETF, the first of its kind in Greater China.

Units of the ETF will begin trading on the Stock Exchange of Hong Kong under the ticker 3060 for HKD counter, 83060 for RMB counter and 9060 for USD counter.

The ETF invests in the most liquid and most representative ICE EUA Futures Contracts by tracking the ICE EUA Carbon Futures Index (Excess Return), which measures the performance of a long-only basket of EUA Contracts.

Each European Union Allowance is an entitlement to emit one metric tonne of carbon dioxide equivalent gas under the European Union Emissions Trading System.

The EU ETS is a cornerstone of the European Union's climate policy, and it contributed to the EU's reduction of GHG emissions by 31% from 1990 to 2020. The new ETF allows investors to participate in the carbon market efficiently in the Asia-Pacific time zone.

"This ETF highlights our commitment to the development of climate-themed products and our overall capabilities in structuring innovative investment solutions," said Ning Lin, Managing Director at CICC HKAM. "This new ETF will allow investors to access one of the largest, most liquid and most actively traded carbon markets in the world. Better still, as the carbon market exhibits low correlation with other assets, it is an excellent choice to deliver portfolio diversification."

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