earth science

Tianjin Climate Exchange

Tianjin Climate Exchange is a earth science topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Tianjin Climate Exchange rather than just read about it. In short: Tianjin Climate Exchange (TCX) is a domestic carbon market cap-and-trade scheme exchange. Jeff Huang is assistant chairman of Tianjin Climate Exchange and vice-president of Chicago Climate Exchange.

Key takeaways

Tianjin Climate Exchange belongs to earth science; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect Tianjin Climate Exchange to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of Tianjin Climate Exchange from memory before moving on to harder problems.

Reference excerpt

Tianjin Climate Exchange (TCX) is a domestic carbon market cap-and-trade scheme exchange. Jeff Huang is assistant chairman of Tianjin Climate Exchange and vice-president of Chicago Climate Exchange. It is China's first integrated exchange for trading of environmental financial instruments TCX is a joint venture between Chicago Climate Exchange, the municipal government of Tianjin and the asset management unit of PetroChina, the country's largest oil and gas producer. Cap-and-trade schemes are programs under which member companies commit to lowering their greenhouse gas emissions by a certain amount in a certain period of time and trade carbon credits generated by this. As China does not have a national cap on emissions, any such scheme would be voluntary, similar to the situation in the US when the Chicago Climate Exchange launched in 2003.

History On September 25, 2008, Tianjin Climate Exchange, co-established by CNPC Assets Management Co., Ltd. (holding a 53% stake), Tianjin Property Rights Exchange (北方产权交易市场) (holding a 22% stake), and Chicago Climate Exchange (CCX) (holding a 25% stake), was unveiled in the Tianjin Binhai New Area. At the request of the State Council, Tianjin Climate Exchange is established as China's first comprehensive platform for trading carbon credits under the Clean Development Mechanism, and will promote environmental protection and emission reduction by means of market and financial measures. Tianjin Climate Exchange has the following goals: to help enterprises cost-effectively reduce emissions of pollutants, such as sulfur dioxide, chemical oxygen demand, etc.; to help enterprises achieve maximum energy efficiency at minimum cost; to help enterprises manage environmental risks and meet increasing disclosure requirements; and to provide enterprises with integrated international emissions market access and experience. In 2006, Tianjin Binhai New Area was designed by the State Council of the PRC as the national experimental zone for comprehensive reforms related to financial innovation, land and administrative management. China's Eleventh Five-Year Plan (2006–10) called for cutting energy consumption per unit of GDP up to 20 percent by 2010 while reducing major pollutants, such as sulfur dioxide (SO2) by 10 percent.[3]

Tianjin Property Rights Exchange TPRE was launched in 1994, under government approval. It is a government agent under the charge of Tianjin SASAC and is the only appointed exchange authorized by Tianjin SASAC for state-owned assets and equities transaction. It is one of three national institutions permitted by SASAC to transact assets and equities of SOEs under control of central government.[2]

Trade products and services Greenhouse gas emissions trading Energy efficiency market product trading Emissions trading based on mandatory government targets Carbon neutral trading and other forms of voluntary carbon reduction trading International trade in greenhouse gas emissions Trading of emission rights for major pollutants Sulfur dioxide emissions trading Chemical oxygen demand emission trading Emissions trading of nitrogen oxides and other pollutants Comprehensive services for energy conservation and emission reduction Integrated services for clean development mechanism (CDM) projects Integrated services for contract energy management (EMC) projects Low carbon solution design for region, industry and project Other advisory services Trading product development and design Emission trading product development and design Development and design of environmental financial derivatives

See also Clean Development Mechanism Beijing Environmental Exchange Richard Sandor

References

http://www.chicagoclimatex.com/news/press/release_20081223_CLE_announcement.pdf http://www.cnpc.com.cn/eng/press/newsreleases/CSR/d1495066-3c79-482a-a36b-88b834cf3f78.htm http://www.chinadaily.com.cn/bizchina/2008-10/27/content_7144537.htm

External links official website

Worked examples

Example 1 — a first encounter with Tianjin Climate Exchange

Start with the simplest possible case. Write down what Tianjin Climate Exchange claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In earth science, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Tianjin Climate Exchange before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Tianjin Climate Exchange ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Tianjin Climate Exchange

In research: Tianjin Climate Exchange appears in earth science research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses Tianjin Climate Exchange in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: Tianjin Climate Exchange is common in secondary-school and first-year university syllabi. It links to neighbouring topics Carbon finance, Climate change in China, so understanding it makes those chapters shorter.
In everyday life: Look for Tianjin Climate Exchange outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

Ask Teacher Smith questions about this articleOpens your AI tutor with a question about “Tianjin Climate Exchange” →

Affiliate

Preply — study more efficiently by working with a personal tutor. 50% off.

How to study Tianjin Climate Exchange in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what Tianjin Climate Exchange means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain Tianjin Climate Exchange out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Tianjin Climate Exchange in simple terms?

Tianjin Climate Exchange (TCX) is a domestic carbon market cap-and-trade scheme exchange. Jeff Huang is assistant chairman of Tianjin Climate Exchange and vice-president of Chicago Climate Exchange.

Why does Tianjin Climate Exchange matter?

Because it connects several earth science ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Tianjin Climate Exchange?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Tianjin Climate Exchange.