The cross-border carbon market collaboration between Carbon Markets Club, or CMC, and Macao International Carbon Emission Exchange, or MEX, has been selected as one of China-ASEAN's outstanding green finance case studies for 2026. The mechanism opens the way for Thailand's T-VER carbon credits and China's Green Electricity Certificate, or GEC, to reach buyers in the other market through a Cross-border Mutual Listing system. Following the signing of a strategic memorandum of understanding on 20 November 2025, the two sides began listing products on each other's platforms. In February 2026, three T-VER projects registered with the Thailand Greenhouse Gas Management Organization, or TGO, namely a wind power project in Nakhon Si Thammarat province, a solar power project in Suphan Buri province, and a hydropower project in Laos, were listed on MEX's platform. At the same time, three Chinese GEC projects from 2025 electricity generation were listed on CMC's platform. The two sides officially launched the mechanism on 26 March 2026 at the 2nd Global Carbon Credit Market Development Forum in the Macao Special Administrative Region of the People's Republic of China, ahead of the first actual transaction. The carbon credits used came from a solar power project of BCPG Public Company Limited, or BCPG. Most recently, MEX presented the success of this mechanism at the BOCHK Green Forum 2026 and Sharing Workshop on Good Practices of Green Finance in Southeast Asia, organized by Bank of China (Hong Kong) and WWF, with Dr. Witchuwan Puengcharoen, Head of Climate Solutions at BCPG Public Company Limited and advisor to the CMC chairman, joining MEX to present the results.
BOC Hong Kong Holdings Ltd
BCPG Public Company Limited
