GLONGHUI, November 21 | HSBC Holdings cancelled plans to establish a carbon credit products trading team, according to Bloomberg sources quoted by Bloomberg. Some analysts pointed out that foreign exchange control actions reflect a change in their views on the development of the environmental financing market. The report said that as early as a few years ago, Foreign Exchange Control began hiring new people and preparing to set up carbon credit trading teams in response to a sharp increase in climate change financing and the voluntary purchase of carbon credit amounts by large companies. However, the relevant actions began to calm down last year, and Foreign Exchange Control also transferred newly hired personnel to other trading teams. At the time, some groups criticized that large companies that voluntarily trade carbon credits only wanted to “greenwash” (greenwash) and did not really promote the development of environmental protection businesses. Voluntary carbon credit trading activity has been drastically reduced by three-quarters.