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Green finance: start-ups like Allinfra embark on carbon credit ventures as Hong Kong stock exchange inches closer to launching trading platform
- Hong Kong’s Allinfra, which teamed up with ADM Capital and Ultimate Carbon, aims to eventually list carbon credit products on the local bourse
- There is growing interest from start-ups in opportunities arising from corporate emitters of greenhouse gases looking to secure carbon credits
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Hong Kong start-up Allinfra, which recently teamed up with private equity firm ADM Capital and renewable energy company Ultimate Carbon, aims to eventually list carbon credit products on the city’s stock exchange.
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The trio last week announced they would pool an initial US$10 million to fund decarbonisation projects and buy carbon credits, as a pilot initiative to tap Hong Kong’s nascent voluntary carbon-offsetting market.
“HKEX (Hong Kong Exchanges and Clearing) will be interesting to us, eventually we would like to list our credits on exchanges like HKEX,” Allinfra co-founder and head of origination Bill Kentrup said, referring to the bourse operator.
The collaboration is an example of the growing interest from start-ups in business opportunities arising from corporate emitters of greenhouse gases looking to secure carbon credits to meet their climate goals. The system allows them to offset the carbon footprint they cannot reduce themselves.
Last week, Hong Kong-listed China Carbon Neutral Development Group said it had signed a preliminary agreement with Singapore boutique asset manager Northwaters Capital to explore cooperation in the carbon business.
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China Carbon Neutral Development recently launched the Carbon Asset Global Opportunity Fund, a Singapore dollar and US dollar duel-currency fund to invest in global carbon credit assets.
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