The Global Carbon Council (GCC) signed a four‑party Memorandum of Understanding at the IETA Asia Climate Summit, held at the Hong Kong Convention and Exhibition Centre.
The summit, the first time the Asia carbon market and climate policy forum was hosted in Hong Kong, gathered leading participants and provided a platform for cross‑border cooperation.
GCC, described as an independent, internationally recognized carbon standard in the Global South, brings its expertise to the partnership.
Signatories and partnership details The agreement was signed by Dr. Yousef M. Alhorr, Founding Chairman of GCC; Mr. Liu Shu, Chairman of Wuhan Carbon Inclusion Management Limited Company (Tanpuhui); Mr. Fan Minfei, Chairman of CGS International Holdings Limited (CGI); and Mr. Asad Sultan, Chief Executive Officer of HKCRSB Limited. Each representative confirmed their commitment to work together under the new framework, with Wuhan Carbon Inclusion Management focusing on carbon inclusion, CGS International operating as a carbon register and services body, and HKCRSB serving as the Hong Kong Carbon Register and Services Body.
The MoU creates a cooperation framework that covers voluntary emission reduction methodologies, registry coordination, carbon credit registration and carbon finance facilitation. It also seeks to improve transparency, traceability and alignment with international climate objectives while preventing double counting across the participating registry systems, a step that supports the broader goals of the Paris Agreement.
Goals and future cooperation Under the agreement, the parties will recognise and develop high‑integrity carbon methodologies, with GCC‑approved methods serving as the benchmark. Initial work will focus on urban climate action in Hubei Province, with plans to extend the approach to other regions pending regulatory approval. The MoU also supports the development of locally applicable methods through review and approval processes, and enables cooperation on project registration, registry functioning and the exchange of non‑confidential project information. The MoU establishes a cross‑border methodology committee to review, recommend and periodically publish approved methodologies. This committee will meet regularly to ensure ongoing transparency and to support high‑integrity methodology development across participating jurisdictions.
“As carbon markets evolve from policy ambition to practical implementation, building trust across borders has never been more important.” — Dr. Yousef M. Alhorr, Founding Chairman, Global Carbon Council
Frequently asked questions
What is the Global Carbon Council? The Global Carbon Council (GCC) is an independent, internationally recognised carbon standard based in the Global South that develops high‑integrity carbon methodologies and oversees voluntary emission reduction projects.
What was the purpose of the MoU signed at the Hong Kong climate summit? The memorandum of understanding aims to boost cross‑border carbon methodology cooperation among GCC, Wuhan Carbon Inclusion Management, CGS International Holdings and HKCRSB, focusing on voluntary emission reduction methods, registry coordination and preventing double counting.
Who signed the four‑party MoU? The MoU was signed by Dr. Yousef M. Alhorr, Founding Chairman of GCC; Mr. Liu Shu, Chairman of Wuhan Carbon Inclusion Management; Mr. Fan Minfei, Chairman of CGS International Holdings; and Mr. Asad Sultan, CEO of HKCRSB.
How will the MoU improve carbon credit transparency? It establishes a cross‑border methodology committee to review, recommend and publish approved methods, enhancing transparency, traceability and alignment with international climate objectives while reducing the risk of double counting across registries.
