November 2024
Issue #155
Buyers No Fees or Commissions till Dec 20th
For Verra VCS, Gold Standard, UNFCCC CERs or Biocarbon: With Hundreds of projects listed on CTX all of these credits are held in escrow and ready for immediate delivery or retirement. The CTX Trading team will execute any OTC trades at the listed price with no commission or fees added to the buyers. We will complete our CTX ERPA purchase agreements and then buy them ‘back-to-back’ off the seller’s exchange accounts, then transfer them or retire them on your behalf for FREE. Deals must close before C.O.B. in UK Friday 20th of December and our team will happily screen share if you need to see the listed prices.
Want to submit a request for inventory? You can do that via our new online Buyer request form here
For CTX members we will modify your fees immediately after your account is funded to buy pre-notified deals or rebate any fees (post transaction) that qualify for purchases made up to Dec 31st.
For CTX sellers our normal sellers’ fees apply when CTX or the buyers complete the purchase – after all we are the only PROFITABLE carbon exchange in the industry and are here to stay. But this early Christmas present is something any Non-member Buyers – corporate or brokers – can take advantage of.
CORSIA
Since 2020/21 when the Airline industry via IATA convinced the global regulator ICAO to remove the 2020 emissions from the CORSIA ‘baseline’, the same lobby groups have been successfully encouraging manipulation the rules for offsets (to avoid buying?) making inventory harder to find. But now both Gold Standard and Verra VCS are approved for Phase 1 (we are in it now) meaning that CTX has the largest inventory of CORSIA eligible credits on earth. Regardless of when the major CORSIA compliant Airlines actually buy now is the time for intermediaries to ‘stock up’. Many experts predict CORSIA eligible credits could rise to $100 by 2030 – and the current Phase 1 compliance period ends in 2027. This means credits purchased today (by Brokers or Airlines themselves) are only average around 5% of that forecasted price. What a time to take advantage of our December offer above.
CTX New Search Features
CTX has long held the view that transfer and retirement fees are unnecessary, given that the CTX Exchange tech and/or staff handle all transfers, and account holders (or CTX) manage retirements. For CTX members, the only CTX clearance and settlement ‘agreement’ (registry) that does not exclude these fees is Verra VCS, so unfortunately, we have had to pass these costs on to the buyers. CTX has activated this fee into its latest technology release, to make it as seamless as possible, so buyer pay on CTX, and Sellers only pay to transfer them to CTX to list (to Verra not CTX) – still no additional fees to list credits. Another additional new fee (not ours) is that if the credits need to be transferred back to the owner from our escrow – should they wish to sell them elsewhere – we also must charge these fees (in advance).
The good news is that if a CTX member has Verra VCS credits (or any others) listed with CTX (held in escrow), and they want to sell them OTC, we support that via our 50% fees discount deal – 2.5% to the seller and the buyer pays 2 cents per credit in the trade. So, for any OTC trade under $3.00 per credit, it is a no brainer when you do the math on up to 6 cents per credit payable for multiple transfers OTC yourself.
A new ‘fuzzy’ search window allows CTX members to search for ANYTHING in any project. Type in the word ‘forest’ and EVERY project with that in it will come as a filter – every project. The Accreditation ICONs now have their own search filter, so you can identify ALL projects with
4+ SDGs or all REDD+, CORSIA etc. This still interacts with the main search filters so you can search Vintage 2020+ Gold Standard with 4+ SDGs and see a shorter list of about 20 to choose from – from Turkish Wind at $1.70 too Ugandan Cookstoves at $11.00 (€10.00) For the Buyers these Symbols now appear on the Buyer Transaction Statement and on the Retirement certificates if CTX does them for you.
COP29 to go? Or not?
Having been to NINE of these events since 2007 in Bali, we wonder about outcomes and genuine actions resulting from this. Another fossil fuels driven economy like the UAE, where 80,000 people achieved nothing at all, and this looks equally bleak. We are very keen to hear who is going and why? What do you hope to achieve? Or were we right when we wrote this https://ctxglobal.com/the-paris-agreement-death-by-a- thousand-cuts/? Let’s face it 2024 has been swamped with Climate events with so called experts talking about the action everyone else should take. Climate Weeks in multiple countries, Carbon this – that – and the other events, ESG conferences…I mean Carbon and ESG must be the most used two words on the planet in 2024. But the ACTION isn’t there. It is here – in the Business world for offsetting we live in!
Global Carbon Registry (GCR)
The latest new project has issued and more in the pipeline for this month, and the first CTX online trades have been actioned. It is exciting to see that the GCR Retirement certificate shows all the individual SDGs for that project (as seen below)
The GCR National Sub-Registry solution has met with huge attention, and its latest listing is another ‘migration’ from a US based Registry where nothing had sold (see the projects of the month below). The entire purpose of a Carbon Registry is to register then support the monetisation of Projects activities after they’re done. Of course, quality, integrity and processes are important as it is the leading technology, security and electronic functionality – but if you can’t sell them, the registry makes money not the project.
GCR expects 2 – 3 strategic deals in early 2025, which it will offer to certain qualifying nations with little or possibly ZERO upfront fees, and the option to ‘upgrade’ to the GEM National Carbon Meta-Registry solution once their domestic and international market matures. For information email info@globalcarbon.co
We assure you that GCR can facilitate OTC Trades for Account holders plus CTX trades (of course) for these credits and other upcoming projects. Transfers and Retirements are FREE – no fees and no hidden costs. Even if CTX does it for you that’s included in the CTX buyer fees of only 2% (not this Xmas for 10kt+�-).
For the record GCR Credits can be listed directly to CTX for instant sale from their Registry account. When a CTX trade takes place, the interfaced technology INSTANTLY transfers the credits to the buyers linked GCR Registry account, for the CTX Retirement account for non-GCR account holders to retire for themselves or their clients. Of course, the Transfer of funds to the CTX sellers account is also instant.
When you combine all these low-cost instantaneous electronic solutions with GCR’s ultra-low project and issuance fees schedule, it is easy to see why this is the Registry likely to dominate the back half of this decade in the VCM. And don’t assume that other platforms will not be able to trade Global Carbon Credits ® (GCCs) – by the end of Q2 in 2025 GCR will open applications for other exchanges and trading platforms to trade GCCs.
CTX 52 weeks Average online Credits per trade increase for the first time this year.
Rock meets Bottom! For most Voluntary Carbon Market (VCM) industry players if you read mainstream or industry news recently the Global market had hit rock bottom. Some of our competitors charts make Dead Cat Bounce look joyful (yes CiX I mean YOU!). Major contractions in UAE (Verra and ACX pulled the pin) have further rattled the market after recent fraud issues in the USA. Currently the only big spenders seem to be ICVCM – talking down the current market ‘Quality’ as they seek bank funded control for their VCM 2.0. So, we were wrapped to see a rebound of our 52 weeks Average volume back to over 4,500 Credits per transaction, on the back of multiple trades of 10s of thousands of tonnes. Because CTX accepts electronic trades as small as 100 tons, of course with multiple trades every day they are often 100’s or Thousands – so no surprise in a supressed market that our heady days of 12,500 credits 52 weeks average per transaction are ‘so last year’. But we truly believe that programs like ReduceandInvest speaks volumes for how action can and should be taken. For more information Contact trading@ctxglobal.com
Projects of The Month
1. CDM UNFCCC
The Okhla MSW Composting Project in Delhi reduces methane emissions by processing municipal solid waste (MSW) through controlled aerobic composting instead of traditional landfill disposal. This process not only mitigates greenhouse gas emissions but also produces compost that can be used as organic fertilizer, benefiting agriculture. The project will primarily treat biodegradable waste from Delhi’s vegetable markets, diverting around 73,000 tons of waste per year from landfills.
The project offers environmental benefits such as reducing landfill use and recycling nutrients back into the soil. It also provides social and economic benefits by creating jobs and making compost more affordable, supporting local agriculture. The project aligns with India’s sustainable development policies and serves as a model for waste management in other urban areas facing similar challenges. The estimated average annual emissions reductions over the length of the project are 33,461 tCO2e for a total of 234.231 tCO2e.
2. Gold Standard
The project consists of 63 WTGs of 800Kw each, forming a combined capacity of 50.4 MW. The project activity generates electricity for the state grid of Gujarat and helps reduce the energy demand-supply gap in the state and contributes to sustainable growth by providing clean and green electricity.
This Project serves as a catalyst for sustainable development in the region and achieves 5 SDGs.
The Project presents a compelling opportunity to contribute to a sustainable future for Gujarat. By fostering a cleaner environment, creating jobs, strengthening the local electricity grid, and promoting economic development, this project paves the way for a more prosperous future for the region. The estimated average annual emissions reductions over the length of the project are 57,420 tCO2e.
3. Global Carbon Registry
Over consumption is one of the main drivers of emissions globally, every part manufactured, product made then shipped – it is a huge cycle. Globechain is the world’s largest ESG Re-use Marketplace, connecting enterprises, nonprofits, and SMEs to facilitate the reuse and redistribution of surplus items across sectors such as construction, real estate, retail, hospitality, and medical. Our marketplace enables businesses to repurpose and reuse unneeded, obsolete stock and assets, drastically reducing waste, storage, and disposal costs while providing and generating Environmental Social Governance and SDG data on the impact. This helps organisations address sustainability challenges, reduce waste disposal costs while improving operational efficiency and social impact at the same time. The estimated average annual emissions reductions are 77,427 tCO2e.
4. Verra VCS
In Vietnam, the shift towards renewable energy, particularly through hydropower, addresses both environmental and energy needs. Generating electricity from hydropower avoids the pollution tied to fossil fuel combustion, a significant benefit as Vietnam’s energy demand grows.
The run-of-river hydropower plant design in Vietnam has minimal environmental impact since it does not alter the water flow regime, maintains water quality and quantity, and ensures sustainable flow levels. Erosion risks are minimal as the reservoir is not intended for water storage, reducing soil displacement. An added benefit is a slight increase in groundwater levels, which positively affects the local ecosystem. This Project will contribute to Vietnam’s electricity grid in remote areas and will improve local infrastructure, like road access between villages. Furthermore, under Vietnamese regulations, a portion of project revenues will go to the Vietnam Environment Protection Fund to boost public climate change awareness.
To address environmental concerns, an Environmental Impact Assessment (EIA) has been conducted and approved, showing that the project area lacks protected species, and the chosen river’s steep location minimizes the potential for aquatic ecosystem disruption. Additionally, the EIA has proposed a monitoring and mitigation plan to handle potential impacts on water, air, noise, and soil quality.
In addition to environmental benefits, the project fosters economic and social advantages for Vietnam. By supporting the country’s push for energy independence, the project reduces reliance on imported electricity. Employment is secured for local workers as the project owner is a major economic entity in Vietnam, contributing to job stability. The local economy is supported through taxes paid by the company. As a renewable energy project, it offers flood and drought mitigation and requires no resettlement, thus protecting local communities and ecosystems. Overall, the project benefits Vietnam by promoting local employment, environmental protection, and increased energy independence. The estimated annual emissions reductions are 89,961 tCO2e.
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.
