The Global Carbon Council (GCC) has signed a strategic Memorandum of Agreement (MoA) with financial services group CGS International Holdings Limited and digital infrastructure provider Verdana HK Limited to establish a new carbon register and independent carbon finance facilitation platform in Hong Kong.
Signed during the Asia Climate Summit (ACS) 2026 at the Hong Kong Convention and Exhibition Centre, the agreement sets up the Hong Kong Carbon Register and Services Body (HKCRSB). The initiative is designed to create predictable pathways for climate finance across China and the Hong Kong region, whilst building the infrastructure required to support the future operationalisation of Article 6.2 of the Paris Agreement.
The partnership aligns with Hong Kong’s broader ambition to solidify its position as an international green and climate finance hub by connecting domestic, voluntary, and compliance carbon markets. While the platform will initially focus on voluntary carbon market activities, its digitized foundation is built for future interoperability, enabling the transparent transfer of Internationally Transferred Mitigation Outcomes (ITMOs).
Under the terms of the agreement, the three entities will divide operational responsibilities:
- The GCC will provide its internationally recognized carbon standard, governance framework, and Carbon Market Infrastructure (CMI) to maintain a neutral, regulatory role.
- CGS International will leverage its investment banking and carbon financial capabilities to lead fundraising, institutional investor engagement, and market outreach.
- Verdana HK Limited will establish and operate the technical registry, managing onboarding, carbon credit transfers, retirement services, and digital transaction workflows.
Dr Yousef M. Alhorr, Founding Chairman of the GCC, noted that predictable carbon finance is fundamental to accelerating global climate action. He stated that the collaboration translates this vision into practice, creating the foundation for more efficient Article 6.2 implementation.
Fan Minfei, Chairman of CGS International, highlighted Hong Kong’s unique positioning to connect international capital with high-integrity carbon projects. Asad Sultan, Chief Executive Officer of Verdana HK, added that secure digital infrastructure is the backbone of modern carbon markets, essential for driving transparency and transaction efficiency.
The GCC already has a significant footprint in Asia, with more than 150 project submissions from China alone, representing a potential issuance of over 500 million carbon credits over a ten-year period. The launch of the HKCRSB is expected to accelerate project onboarding and connect this substantial pipeline directly with international institutional buyers.
