The first offset deal has been recorded on the Shanghai Energy and Environment Exchange, with carbon trust fund AJC buying 200,000 pre-CDM CCERs from trading house Treasure Carbon.
The deal went through at an undisclosed price on Wednesday, the Shanghai exchange announced.
Pre-CDM CCERs normally trade at around 5-8 yuan ($0.80-1.30).
The CCERs were from a wind farm project in Gansu province, but are ineligible for compliance use in five of China’s seven pilot carbon markets – Beijing, Chongqing, Guangdong, Hubei and Shanghai.
The seller, Treasure Carbon, along with brokers Shanghai Securities, last December invested 10 million yuan in AJC, a 30 million yuan ($4.8 mln) trust fund.