China, the world's largest greenhouse gas emitter, is making new environmental protection commitments, now highlighted by the first voluntary carbon credit purchase in Beijing. Tuesday's buy falls under the Panda Standard, which is the country's carbon credit evaluation and calculation mechanism.

The world's fastest growing economy is looking to move into one of the globe's hottest new financial markets: carbon trading.

Franshion Properties, one of China's leading real estate companies, has voluntarily bought 17,000 tons of carbon credit from the Beijing Environmental Exchange.

It's one of the largest deals yet under the Panda Standard, the nation's very own carbon trading regime, which came out of the 2009 Copenhagen Climate Change Conference.

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