China Unveils Groundbreaking Carbon Credit Standard for Public Buildings in Collaboration with Industry Leaders

SINGAPORE, Jan. 16, 2024 /PRNewswire/ — Greenland Digital Technology Company Limited and MVGX Tech together with the Shanghai Academy of Quality Management, CABR Technology, Shanghai Society of Environmental Sciences, and other entities, have formulated China’s first emission reduction standard for public buildings by referencing international standards. The certification standard – “Technical specification for identification of carbon emission reduction of comprehensive renovation projects of public buildings” (T/CSES 128-2023), was released by the Chinese Society for Environmental Sciences on 20 December 2023. As China’s comprehensive public building carbon emission reduction methodology, this certification standard ensures that the emission reductions of public buildings are measurable, reportable, and verifiable, enabling it to meet the scientific and authentic requirements of the voluntary emission reduction mechanism. The standard actively encourages the use of digital technology to ensure the consistency and reliability of emission reduction data for public buildings.

Liu Meng, General Representative of the United Nations Global Compact Asia-Pacific Region, Xia Zuyi, Vice Chairman and Secretary-General of the Chinese Society for Environmental Sciences, Zhang Yuliang, Chairman and President of Greenland Group, Geng Jing, Director and Executive President of Greenland Group and Chairman and President of Greenland Financial Technology Group, Wu Qizhou, Deputy Director of the Shanghai Municipal Bureau of Ecology and Environment, Zhu Shiqing, Chairman of the Shanghai Society of Environmental Sciences, and Frank Zhang, President of MVGX Tech of Singapore, and other leaders attended the “China Building Carbon Credit (CBCC)” press conference. All entities involved in the conference will collaborate to align the entire industrial chain to promote aligning the development, verification, trading, and offsetting of CBCC to bolster China’s net zero targets.

The press conference also witnessed a signing ceremony for wider cooperation within the CBCC ecosystem. Greenland Sci-Tech and Innovation signed contracts with China’s Greenland Broad Greenstate and Singapore’s MVGX Tech as CBCC development partners; Guizhou Green Finance and Emissions Exchange (GGFEX) signed a cross-border trading cooperation agreement for CBCC with Singapore’s Metaverse Green Exchange (MVGX Exchange) and Hong Kong Digital Asset Exchange (HKDAX).

The attendees at the gathering strongly emphasized the significance of CBCC for promoting green and low-carbon development in Shanghai, the nation, and globally. The parties agreed to strengthen cooperation amongst Greenland Group, MVGX Tech, and other institutions to support the expansion and strengthening of the CBCC ecosystem and share successful case studies nationwide and globally.

About MVGX Tech Pte. Ltd. 

MVGX Tech is a Singapore-based Carbon Software-as-a-Service (SaaS) company that aims to empower corporations, governments, and institutions to take action at every stage of their decarbonisation journeys. Consolidated under the Carbon Connect Suite, MVGX Tech’s products, services, and software focus on carbon measurement, reporting, and verification (“MRV”) as well as decarbonisation rating, carbon credit development and issuance, carbon credit listing and registry, and carbon credit trading. Carbon Connect Suite is powered by MVGX Tech’s proprietary blockchain-enabled technologies including its Non-Fungible Digital Twin (NFDT^®) and Digital Carbon Credit (CNT^®).

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