New Year Sees CTX Team Expansion.
As January started with a bang – New Members records fall. When we signed in 10 New Members in December, CTX pushed past 120 for the year – and total over 600. As the world’s oldest and largest carbon exchange/ trading platform the records tumbled again in January with 12 new members, new staff and another record number of transactions. “Repetitious~” you say? Well, it is better than the constant negativity we see from many for sure 😊. When we add to that our new records for CTX listings (below in the Newsletter) it is a VERY bright start to 2024.
CTX India is assigned Indian clients for now.
Our fabulous new License in India has large dynamic team ready to start selling and for your inbound enquiries. Their new website https://ctxindia.co/ links you to an amazing team, freshly trained by the experienced CTX execs in Admin and Sales by Mano Lavan and Atul Singh, who now roll back into international sales roles. CTX members will have received an email for the handover of their accounts to initial service out of India, with CTX Operations and Trading still offering our usual support.
We are actively seeking Buyers in India – for obvious reasons, so let’s see loads of referrals for Corporate Buyers or Reseller Brokers or Sustainability Consultants (#no crypto thanks)
Project-Type Listings Updates
We want to update you on some changes we are making to our project listings.
We believe that by listing projects in more accurate and specific categories, we can give them more visibility and make it easier for our buyers to find what they are looking for.
As part of this effort, we are updating our “cookstoves” Project Type – listings before for those were under “Energy Efficiency domestic sector and Energy demand” (the UNFCC PT) so all are being transferred to “cookstoves”.
REDD (REDD+) Projects were previously listed under ‘AFOLU’, so will be moved to “REDD” project type and will also have the REDD+ symbol on them. This means “AFOLU” only applies to Verra VCS.
“Energy Industries” previously included some Wind, Hydro, Solar, and other projects are currently listed under “Energy Industries – renewable/non-renewable sources.” However, we will soon be moving these projects to a more specific category, such as “Wind,” “Hydro,” and “Solar”. This may also apply to other projects, such as Biomass or Landfill gas.
These changes will mostly only affect VERRA, Gold Standard, and CDM/CTX CERs credits for now.
If any of our sellers have any concerns or questions about these changes, please contact our operations team operations@ctxglobal.com. for further assistance. We are committed to making this transition as smooth as possible for everyone involved.
ITMO Auction hits unavoidable delays
ITMOs are Carbon Credits issued by Projects that are operational, verified and issued or capable of issuing high quality credits, but need a Crucial; additional Step of National Approval to transfer outside their nations Paris Agreement NDC. The approval is in the form of a letter, with specific criteria signed by the National Authorized Government Agency. Despite immense interest from Major global Buyers to participate CTX are still waiting for the projects with the correct structure and approval before we can launch the Auction. The GEM technology and all the contracts are ready, and Qualified Buyers (budget $5 Million+) or Sellers (with approvals) can email their interest to Auctions@ctxglobal.com, but for now it looks like this will be delayed until April.
Projects of The Month
Verra VCS
Hydro – (4 SDG’s)
Turkey (Asia) – USD $2.20
The run of the river hydroelectric plant generates electricity from renewable resources and contributes to an estimated of 846,765 tCO2 emission reductions in a 7-year crediting period. The plant reduces the demand for new thermal power plants that use fossil fuels as well as the dependency on imported energy. The plant creates direct and indirect employment opportunities for the local people during construction and operation phases. Newly built roads provide easier access to villages in the region. The project also supports the local stakeholders, the schools, and surrounding villages. Lastly students who need financial assistance are granted scholarships.
Biogas Heat (3 SDG’s)
Asia (China) – USD $3.20
The project helps farmers construct and install 15,946 biodigesters in 15,946 households of 17 towns in the Hainan Province. Before the project, all the swine manure was left and stored in an uncovered pit) for three months releasing a large amount of methane in the atmosphere. In addition to this, households used coal for cooking and heating. The constructed biodigesters collect and handle the manure of the pigs and collect the biogas generated for heat supply and cooking. The combined annual GHG emission reduction for both components of the project is estimated at 55,029 tCO2e per year.
Verra VCS
Cookstoves – (3 SDG’s)
Madagascar (Africa) – USD $5.27
This project reduces greenhouse gas emissions by distributing fuel-efficient Improved Cook Stoves in various districts of Analamanga region of Madagascar. Around 82.2% of the people in the region depend on firewood and charcoal as cooking fuel. These products come from the forests and local markets. Burning firewood or charcoal leads to significant GHG emissions and to increase expenditures for buying the fuel as well as time spent on collecting the firewood. In addition to this, firewood collection and charcoal production leads to increased deforestation and environmental degradation. With the implementation of the project the old low efficiency traditional cookstoves are replaced with new high thermal efficiency, low greenhouse gas emitting cookstoves known as Improved cookstoves (“ICS”). The estimated annual average GHG emission reduction from the project is 313,237 tCO2e and the GHG emission reduction estimated for the whole crediting period is 3,132,379 tCO2e.
Buy Credits now!
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.
