Cherish Sunshine Proudly Secures HKEX Core Climate Trading Qualification

Cherish Sunshine is pleased to announce it has obtained qualification for trading on Core Climate, the international carbon market of the Hong Kong Stock Exchange. On September 20, 2023, Cherish Sunshine's trading account on Core Climate was successfully opened. This trading qualification enables the company to represent clients in listing carbon credits on the exchange, connect with more buyers locally and globally, and provide innovative carbon trading services.

Since late 2022, Cherish Sunshine has been in close discussions with Core Climate Exchange to obtain the trading qualification. We assembled an internal audit team to prepare materials meeting Core Climate's compliance requirements, maintaining strict quality control. Concurrently, we set up separate bank accounts to protect customer funds. During this period, Cherish Sunshine exchanged dozens of emails in English with Core Climate Exchange as we worked to obtain the trading qualification. After a rigorous process, Cherish Sunshine succeeded in obtaining the trading account qualification. Swiftly following this approval, Cherish Sunshine's carbon business division Design Carbon signed an agency agreement with a client and began preparations to list their Grassland Carbon Sinks Project.

Climate change is an international consensus. On April 14, 2023, HKEX adopted a new regulation taking effect in 2024 that makes climate risk disclosure mandatory. This upgrade aims to guide more companies to prioritize climate response by reinforcing their ESG responsibilities and duties.

Across the Atlantic Ocean, The European Commission recently adopted transitional rules for implementing the EU's Carbon Border Adjustment Mechanism (CBAM). These rules take effect on October 1, 2022 through end of 2025. The current carbon price in the EU market is approximately €80 per ton, or 500 yuan per ton.

Leveraging the Cherish Sunshine’s global market resources, Design Carbon provides comprehensive low-carbon services including carbon finance, development, and ESG consulting domestically and abroad. With an international team, extensive experience, and an exclusive carbon GPT model, Design Carbon has built cooperation networks and resource channels in carbon markets worldwide. Currently, Design Carbon has signed over 30 projects with over 10 million tons of carbon assets developed and traded. Moving forward, Cherish Sunshine will continue innovating to help enterprises smoothly transform and actively respond to China's "dual carbon" goals.