Franshion Properties Concludes Its First Deal under “Panda Standard”

Date:2011-03-30 Source:Sinochem Group

On March 29th, Franshion Properties, a subsidiary of Sinochem Group, purchased, through China Beijing Environment Exchange (CBEEX), 16.8 thousand tons of Verified Emission Reductions Quota under “Panda Standard”, during the Seventh International Conference on Green and Energy-efficient Building & New Technologies and Products Expo, which would be used for the operational carbon emissions in the Zhonghe Beijing Guangqu Jinmao Mansion Project.

This carbon neutral plan under the cooperation between Franshion Properties and CBEEX is the first carbon neutral project in China’s residential industry and the first project following the issuance of the “Panda Standard” in China.

According to reports, the “Panda Standard” is the first standard related to carbon emission reduction in China, and was jointly issued by China Beijing Environment Exchange and other participants during the 2009 United Nations Climate Change Conference held in Copenhagen, which marked the first step taken by China to participate in the construction of carbon trade standard. This Standard is intended to provide transparent and reliable carbon credits for the coming China carbon market, and satisfy the objective of China’s Central Government to eradicate poverty by encouraging investment in rural economy. The amount of the verified emission reductions purchased by Franshion Properties arises from the first project of alleviating poverty through carbon emission reductions under “Panda Standard” – the Project of Yunnan Xishuang Banna Bamboo Forest Carbon Sink. This is one of the package of projects signed between China and France during China’s President Hu Jintao’s visit to France in November 2010, therefore enjoying a background of high-level Sino-France partnership.

Over the years, Franshion Properties has been committed to creating green, energy-saving and comfortable buildings through application of innovative technologies and solutions, with such projects as Jinmao Tower, Shanghai Port International Cruise Terminal, and Beijing Chemsunny World Trade Centre it built leading the industry in terms of applying green technologies in domestic commercial and residential properties. For the project of Beijing Guangqu Jinmao Mansion, the company has employed advanced ground-source heat pump and capillary meshwork technologies, reducing heavily the energy consumption per unit and CO2 emissions.