April 3, 2013 by California Carbon
Climate Connect News, London: The Climate Action Reserve and Carbon Trade Exchange have recently forged a partnership which would for the first time in the history permit trade of Climate Reserve Tonnes (CRTs) through a commodities exchange. The step has undoubtedly moved the needle in the right for the North America’s carbon market, with above 12 million CRTs queued to be qualified as Early Action Offset Credits in California’s market and more compliance-eligible credits being registered with the Reserve.
Giving thumbs up to this recent partnership, Linda Adams, Chair of the Climate Action Reserve Board of Directors said, “This partnership brings new tools to the carbon market that will help increase transparency and also serve as evidence of the further maturation of the market. Advancements such as this are key to market growth and help to set the stage for working with other global markets in the future.”
Exuberant about the partnership, Wayne Sharp, CEO of Carbon Trade Exchange, commented, “The voluntary carbon market is already global and Carbon Trade Exchange provides electronic, 24/7 trading services already to clients in 27 countries. We are extremely proud to provide this global access to buyers and sellers of Climate Reserve Tonnes in a deal that provides voluntary pre-compliance and regulated carbon market participants the opportunity to buy credits wholesale, real time electronically.”
This linkage with the Carbon Trade Exchange will offer market participants with an easy, convenient, and hassle free transaction platform for trading CRTs and other Reserve issued credits.
All the currently issued and in future to be issued CRTs can be transacted through Carbon Trade Exchange. Above 33 million CRTs have already been registered with the Reserve which were verified against the Reserve’s offset project protocols. Four of these offset protocols have been adopted by the California Air Resources Board (ARB). Credits issued under them are now eligible to be transferred into compliance offset credits issued by ARB.
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