The UNFCCCand Carbon Trade eXchange (CTX) have announced a collaboration to further strengthen the UN’s Climate Neutral Now initiative.
The collaboration will make it possible to access UNFCCC Certified Emission Reductions (CERs) for voluntary cancellation via the CTX global voluntary carbon market exchange. This is the first example of a new partnership model that UNFCCC offers carbon market exchanges wishing to include CERs in their portfolios.
Since its launch in 2015 the Climate Neutral Now initiative has engaged a global audience in the fight against climate change, encouraging actors to measure and reduce their climate footprint as much as possible, and facilitating the purchase and retirement of CERs by individuals and businesses, to compensate for remaining unavoidable carbon footprint.
CTX, which has been operating since 2009 in the voluntary carbon market, was designed specifically to provide a comprehensive choice for the offset step; the ability to select projects by a range of parameters to build an offset portfolio online; perform full due diligence online; demonstrate competitive, transparent pricing; and purchase securely in real time with zero delivery risk.
Wayne Sharpe, Founder of CTX, said: “Since its launch CTX has focussed on voluntary offset purchases certified by the major voluntary carbon standards such as Verified Carbon Standard (VCS) and Gold Standard. Many businesses wish to offset using UN certified credits but have lacked the confidence to do so via the opaque ‘over the counter’ market. We’re delighted that CTX will address this and help to grow the market for climate neutrality.”
Niclas Svenningsen from the UNFCCC explained: “This agreement will provide a new and welcome opportunity for all stakeholders to invest in climate action through CDM projects, as part of a wider climate action portfolio. The agreement will also support projects under the United Nations Clean Development Mechanism (CDM) to reach a wider audience for monetising their CERs and thereby fund continued emission reduction activities.”
CTX allows companies worldwide to easily purchase UN Carbon Offsets online via easy-to-use technology where they can search by country, project type, vintage, price and volume; review project documentation; and purchase in real time. The CTX platform operates 24/7 on any internet connection, is fully secure and provides fast, efficient and low cost clearance and settlement.
CTX’s Parent company Global Environmental Markets (www.gemglobal.com) designs and builds unique exchange technologies such as CTX Exchange, which was launched in 2009 in Sydney after 2 years of R&D in London.
For further information, please contact:
Carbon Trade eXchange : firstname.lastname@example.org UK: +442035985890 AU: +61731023045
UNFCCC : CDMemail@example.com
UNFCCC Press Office: press(at)unfccc.int
About the UNFCCC
With 197 Parties, the United Nations Framework Convention on Climate Change (UNFCCC) has near universal membership and is the parent treaty of the 2015 Paris Climate Change Agreement. The main aim of the Paris Agreement is to keep a global average temperature rise this century well below 2 degrees Celsius and to drive efforts to limit the temperature increase even further to 1.5 degrees Celsius above pre-industrial levels. The UNFCCC is also the parent treaty of the 1997 Kyoto Protocol. The ultimate objective of all agreements under the UNFCCC is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system, in a time frame which allows ecosystems to adapt naturally and enables sustainable development.
See also: http://unfccc.int
Follow UNFCCC on Twitter: @UNFCCC | español: @CMNUCC | francais: @CCNUCC | Deutsch: @UNKlima
UNFCCC Executive Secretary Patricia Espinosa on Twitter: @PEspinosaC
UNFCCC on Facebook: facebook.com/UNclimatechange
UNFCCC on Instagram: @UNFCCC
About Carbon Trade Exchange
Carbon Trade Exchange (CTX) is the first and still the only global electronic exchange for the voluntary carbon market, operating successfully for almost ten years, over which time tens of millions of tonnes of CO2 reductions certified by the major international standards have been securely transacted by corporates, project developers, brokers and NGOs. CTX offers a comprehensive, transparent and secure electronic marketplace for buyers and sellers of certified Gold Standard and Verified Carbon Standard VERs (Verified Emission Reductions, also known as carbon credits or carbon offsets).
How it works
Buyers and Sellers join the exchange as members, enabling them to list their VERs for sale and to buy from those listed. For CERs sellers can list for sale and buy for immediate voluntary cancellation.
By joining members agree to standardised legal and commercial terms, enabling contracts to be created and exchanged electronically in real time.
Buyers can easily search for and list the types of credit that they wish to buy against a range of fields (country, standard, project type, vintage etc.) in order to view all available projects and select according to price or other criteria
Buyers accounts must be ‘in funds’ to be able to procure from the exchange, meaning Sellers have total confidence that they will be paid as soon as a trade takes place.
VERs and CERs listed for sale are ‘locked’ whilst listed on the exchange, meaning that buyers have total confidence that they will immediately receive the specific VERs they have chosen or that the CERs they have purchased will be immediately retired on their behalf
Direct electronic connections to the Registries of the international standards enable immediate online access to project documentation and audit reports for research and due diligence.
Trades are cleared and settled electronically in real time and funds transferred simultaneously.
Buyers and Sellers can choose from four currencies (EUR, GBP, USD, AUD) in which to respectively view, buy and sell their VERs – paying and being paid in that currency (FX rates are updated every three hours). The exchange manages the FX conversion ensuring that buyers and sellers pay and receive the price they expect.
Westpac bank provides the secure banking connection to the CTX platform, which was first interfaced with Westpac bank in 2010 (read more: https://www.westpac.com.au/about-westpac/media/media-releases/2010/12-october-2010/)
CTX is free to join for any active market participant that has a relevant Registry account (UNFCCC, Gold Standard or APX) or that wishes to purchase CERs for voluntary cancellation.
See also: http://ctxglobal.com
To login to your account or apply for membership: http://www.ctxglobal.netEmail: firstname.lastname@example.org
Follow CTX on Twitter: @CTXglobal
Follow CTX on Linked-in: https://www.linkedin.com/company/carbon-tradexchange
About Environmental Markets (GEM)
GEM develops, operates and licenses exchange solutions and trading platforms for commodity and financial markets.
GEM provides market operators with electronic exchange trading platforms that facilitate fair, orderly and transparent marketplaces delivering participants the confidence to trade. GEM has a proven track record of designing, developing and operating web based exchange systems that suit any markets needs – from listing new products and disseminating market knowledge and information to facilitating trading and providing world class real time clearing and settlement.
GEM’s exchange and trading platform currently supports various global markets including the world’s largest voluntary carbon offsets platform, the world’s first water entitlement platform and various renewable energy certificate schemes. GEM and its partners are currently launching a stock exchange using the same underlying platform and assessing various soft commodities.
See also: http://www.gemglobal.com
The post UNFCCC and CTX Collaborate on Global Climate Neutrality Initiative appeared first on Carbon Trade Exchange.