CTX – Record December Defies Market Depression
Monthly Record Transactions, $ Value & Credits Volume
Trust, Confidence, Performance: The cornerstones of CTX for over 18 years. All the way to New Years Eve (15 transactions) CTX traded volume of over $2.5 million, with no interruption over Christmas or New Year, despite most of our team on holidays. And prices ranged from 30,000 Verra @ $8.15 down to 190,000 CTX UN CERs @ the new reduced Floor Price of $0.30. That wave of positive action has continued into January – the much-awaited resurgence in the global VCM has finally started, but it didn’t just happen, it required huge efforts over the entire year of 2025.
In this newsletter we will outline the new innovative technology solutions to support even more trading and growth
And the amazing once in a lifetime opportunity for buyers.
Credit Card buyer solution:
New Innovation for Immediate Credit Purchases.
After years of efforts the CTX parent Global Environmental Markets (GEM) has finally been able to find, develop and launch a new payment gateway to allow payments via credit card. Originally designed for the new Carbon Buyers Club accounts (to be launched in February) this has now been established for all CTX accounts, so any Buyer can purchase using any Credit Card. The Transaction will appear in your Cash Transaction Log as an account funding and purchase. For Full CTX members, the normal CTX fees apply – but credit card and/or FX fees still apply.
Cash Accounts & Transactions CSV files
CTX members can now download.
Previously CTX admin did this support for major traders, but now all CTX clients have access to download these files direct when the DAR is logged into the account. The Cash Account history includes all transactions, inbound and outbound transfers. The Transaction Log now also includes the Project ID and Buyer or Sellers credit volumes, also who (the DAR or which one of the AAR’s) did the trade.
CDM and CTX CERs – Window of Buyer opportunity
CTX lowers the Floor price to $0.30 cents for scale buyers.
In case you missed the Christmas message this opportunity has continued and escalated into 2026
https://ctxglobal.com/carbon-buyers-could-have-a-very-merry-christmas/
Due to seller and buyer demand we lowered the floor price but based on the additional Admin work involved CTX has introduced a small additional Retirement fee of USD 5 cents (in addition to the normal fee %). This fee will apply to both CTX or OTC Trades. CTX Members can use the “Negotiate Price” feature to make an anonymous offer for larger Volumes (partial purchase of the listing).
For information or support in relation to CTX Membership contact operations@ctxglobal.com
To Buy OTC or to establish CTX OTC Exchange cleared trades contact trading@ctxglobal.com
Article 6 Credits = ITMOs
The Moving Goalposts impact CORSIA Inventory.
When ICAO introduced the ‘corresponding adjustment’ requirements for CORSIA credits, it triggered a huge amount of pressure on projects. Then insurers jumped in, and Registries were forced to overcome a complex set of problems, all of which put more financial pressure on Projects and developing (host) nations. For reasons that are unclear ITMOs got ‘rebranded’ as “Article 6 Credits” but the original concept of ‘decentralization’ required host nations to have their own Registry. In the Decade since The Paris Agreement was signed, virtually none have done that, or have registries that don’t ‘qualify’, so the Incumbent major Credit Standards / Registry players continue to be the sole source of ‘supply’. As the 2027/28 deadline looms, supply is scarce, and Gold Standard and Verra VCS appear (rightly) fearful of future claims if they ‘certify’ credits that aren’t fully insured AND meet the stringent criteria. Host Nations struggle to meet the LoA issuance and reporting required (a GEM National Carbon Registry would solve that) so the entire ITMO market has frozen, meaning so has CORSIA credits/ offsets sales. The result is that all major Airlines will end up paying massively more to the EU and other regulators – the UK has published a plan to charge them £100 per ton under the UKETS. Where did it go wrong?
The original plan for CORSIA was for Voluntary Credits then some geniuses – lawyers and insurance companies – decided to introduce the ‘avoidance of risk’ by ‘corresponding adjustments. The reality is that the VCM credits fall outside the Host Nations NDC, so that concept was flawed at the outset. Legitimate retirement in any Voluntary Registry should be enough, and for CTX there is fully electronic ‘Audit Trail’.
Of course, CTX will trade the limited inventory if and when it’s there – but the Major Airlines have stepped into a massive minefield that will hit them with huge costs in 2027/28 and beyond.
CTX ceases trade of CERcarbono
Escrowed credits returned – EcoRegistry account will be closed
CTX has decided that the registry no longer qualifies as a trusted CTX ‘Partner Registry’ and the CTX directors are unwilling to risk CTX members credits (Sellers) or Buyers funds to purchase future transfers or retirements.
Projects of The Month
Global Carbon Registry (GCR)
Tree Plantation Programme in Different States of India Phase 1 & 2 (4 SDG’s)
India – USD$9.95
The Tree Plantation Programme in India is a large-scale afforestation initiative implemented in two complementary phases, designed to deliver measurable climate benefits while advancing multiple Sustainable Development Goals. The Project is executed across privately owned farmlands through partnerships with subsistence and smallholder farmers, enabling sustainable land use and long-term environmental impact. Phase 1 established the foundation of the Project through the cultivation of Mahogany (Swietenia macrophylla) trees by a growing network of farmers in the states of Karnataka, Maharashtra, Andhra Pradesh, and Telangana. Building on this success, Phase 2 expands the Project’s footprint across additional regions, extending implementation to Andhra Pradesh, Arunachal Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Tamil Nadu, Telangana, and Uttar Pradesh. Across both phases, the Project is implemented by Cropcity Agro Carbons Private Limited (CAPL) in close coordination with participating farmers, transforming dispersed agricultural lands into a unified afforestation programme that delivers long-term carbon sequestration, rural livelihood support, and sustainable development outcomes.
VERRA
Improved Cookstove Implementation in Nepal.
India – USD$6.00
The project in Nepal focuses on distributing fuel‑efficient improved cookstoves (ICS) to socially disadvantaged communities, replacing traditional low‑efficiency stoves with cleaner, more effective alternatives. By providing households, especially women, with safer cooking solutions, the initiative significantly reduces indoor air pollution and associated health costs while cutting reliance on biomass burned inefficiently.
The project further strengthens its impact by ensuring that improved cookstoves reach disadvantaged households through locally delivered training and community‑based implementation. Stove builders, prioritising the inclusion of women, are equipped with the skills needed to construct and install the ICS units, creating local livelihood opportunities alongside cleaner cooking access.
VERRA
1.6 MW Bundled Rice Husk Based Cogeneration Plant by M/s Milk food Limited (MFL) in Patiala (Punjab) & Moradabad (U.P) Districts
India – USD$1.20
The project introduces two rice‑husk–based cogeneration plants in Punjab and Uttar Pradesh to replace coal‑dependent steam and electricity generation for Milkfood Limited. By using locally available biomass, a carbon‑neutral fuel, the initiative displaces grid electricity and fully replaces coal‑fired steam production in Patiala, while supplying all new steam and power needs at the Moradabad facility. Together, the plants generate clean steam and electricity with capacities of 1.0 MW and 0.6 MW, cutting reliance on fossil fuels and avoiding an estimated 70,113 tonnes of CO₂ emissions annually, totalling 701,130 tonnes over the crediting period. Without this project, both facilities would have continued to depend on coal boilers and grid power, resulting in significantly higher greenhouse gas emissions.
For OTC Buyers contact trading@ctxglobal.com
CTX Members – if you have any questions, please email operations@ctxglobal.com
Thank you all for your contributions to help save the planet for our future generations.
