Wang Shi, Chairman of the Board of Directors of Vanke Group, introduced at the side event of "China Carbon Trading Market Start-up and Capacity Building Seminar" co-sponsored by Alashan SEE Ecological Association and World Resources Institute that Vanke was the first buyer of the "Expo Voluntary Emission Reduction" activity. The carbon emissions generated during the construction and operation of Vanke Pavilion in Shanghai World Expo are being independently verified, and then a corresponding number of physical objects are purchased through the platform of Shanghai Environment and Energy Exchange.
However, the voluntary emission reduction trading business of these three exchanges is relatively light, mostly of a "demonstration" nature. Wang Shu, deputy director of the Climate Change Department of the National Development and Reform Commission, said at another carbon market meeting held here that voluntary emission reduction is based on corporate social responsibility and personal awareness. Although the technical conditions are basically available, the demand is very limited without total restrictions and incentives.