The Bottom Has Gone – Trades Explode.
This November we ‘Called the Bottom’ & sure enough – record transactions.
The only way is up! Despite negative media and market headwinds, November and December hit a record number of CTX trades – over 140 and counting. Pulled down by many CTX competitors (who showed prices plummeting as low as 23 cents) CTX prices dipped to 50 cents on certain older CERs (300,000 credits) which is our HARD FLOOR price. Then within a week the next 50,000 trade was at 80 cents (+60%) but alongside these multiple trades over $4.00 & $5.00, and volumes of up to 250,000 this week, so despite our ‘micro trade’ minimums of 100 tones, the 52 weeks average remains over 6,000 credits per transaction. Buyers, Brokers and reseller platforms took advantage of the lowest prices you will see in the future. Sure, the recent trades are sometimes smaller or lower value than in previous years, but there is multiple every day – and by having a % of the trade as fees, we ride the same wave our buyers and sellers do.
CTX India – get ready for Growth.
When in November we signed the CTX India License it reminded our CEO of the first license in what became the $40 Billion Bartercard Empire globally. The Indian Buyers’ market is about to see immense growth. https://ctxindia.co/ and a new sales team is being recruited now, ready to hit the market in 2024.
The Launch event at COP28 was a great success, thanks to our friends at Global Carbon Council (GCC) for the use of their pavilion. And if you want to know more about the future contact via CTXindia@ctxglobal.com
CTX renews Partnership with UNFCC CDM
In case you missed it CTX and UNFCCC signed an extension for our unique partnership to trade CDM CERs. Under this unique partnership since 2017, when you buy CERs, CTX does the cancellation and issues the retirement certificates to confirm it. The CDM is the world’s first , largest and most reputable Carbon Credit /Offset solution and yet prices are well under many other credit standards. This 1st week of December we have already seen trades of 250,000, 15,600 and 150,000 credits, and the 52 weeks average 17,230 volume traded with prices ranging from USD $0.50 up to $4.00. There are currently some incredible CDM Malawi Cookstoves 2020 vintage listed (100k+) at just $3.50, with multiple Gold Standard also ranging from just $2.50 to $4.50.
Massive Announcements at COP28
Global Carbon Registry® (GCR) – GEMs deal of the century! There were some Game Changing announcements in Dubai, but few will have as much impact in years to come as the announcement of Global Carbon Councils acquisition of GCR from GEM. The full details of the positive impact on global Carbon Markets, Voluntary and ITMOs, will unfold in early 2024, with the anticipated relaunch in February.
ITMO Auction: it’s here and it’s the first and it’s live in February 2024.
With an amazing group of experts collaborating – EY, UNDP, GCC, Gem and CTX, and active participation from Ghana, Kenya and Oman – this is a world first ! For more information or to register as a buyer (or Nation supported future seller) email Auctions@CTXglobal.com = ITMO Auctions for our planet’s future.
N.b. Internationally Transferable Mitigation Outcomes (ITMOs) are Project Originated carbon credits approved by a qualified nation to transfer out of their Paris Agreement NDC target to a developed nation. Once purchased they can be then be cancelled for National use or ‘on sold’ to a nation that needs them to meet its obligations.
Projects of The Month
Safewater Project (4 SDG’s)
Africa (Uganda) – USD $10.50
In Uganda more than 45% of the rural population does not have access to safe water and rely exclusively on unprotected wells and other open water sources that are highly susceptible to contamination. Rural communities rely on wood as fuel for their traditional three stone fires to purify their water for drinking, cooking, and basic personal hygiene. This project implements a hand pumps technology that does not require fuel (wood or fossil) and supplies clean water while avoiding the release of GHG emissions with an emission reduction of 10,000 tCO2e per year. Many waterpoints, such as boreholes and protected springs, across the rural area are owned by community-based organizations (CBOs) and are not currently working because repairs are too expensive and poorly managed maintenance programmes. This project also identifies non-functioning waterpoints and implements a long-term maintenance programme to ensure that the quality of the water delivered by the boreholes is fit for human consumption for the entire length of the project, which will be 7 years. The Lango safe water project is the first world project fully certified under the Gold Standard´s Gender Equality Framework.
REDD+ – (8 SDG’s)
Colombia (South America) – USD $4.00
The territory of the Puerto Zábalo y Los Monos reserve has experienced a reduction in forest cover mainly due to land use changes associated with the expansion of the agricultural frontier, timber extraction for subsistence and commercialization, establishment of illicit crops, colonization processes, and alluvial mining activities. The forest cover has also been affected by landslides and soil erosion. This REDD+ project seeks to preserve the existing forests by strengthening the community’s territorial governance, capacities, and culture, developing sustainable productive activities compatible with nature that contribute to food security and income generation, implementing biodiversity monitoring actions, and improving social investment in the territory. The estimated emission reductions account for 1,049,418 tCO2 per year with a crediting period of 30 years.
BioCarbon Registry is now ICROA Endorsed 🌏! This endorsement from the International Carbon Reduction and Offset Alliance (ICROA) is a mark of the commitment to high standards in carbon offsetting and environmental stewardship.
Verra VCS
Hydro – (4 SDG’s)
Brazil (South America) – USD $1.70
Thermoelectric power plants compose the second greatest source of energy in the national energetic matrix of Brazil with a great concentration of coal thermoelectric power plants (greatest contributors to the emission of CO2 in the national energetic matrix). The hydroelectric Power Plant Barra Grande project supplies 30% of clean and renewable energy for the Santa Catarina State in the South of Brazil contributing to the sustainable development of its region and country. The hydroelectric plant has an estimated of 313,423 tCO2 emission reductions per year with a crediting period of 10 years. More than 5,000 direct and indirect jobs during the construction and operation stages were created. The taxes generated by the activities contribute to the socio-economical development of the region by allocating the money to health, education, leisure, security, and social assistance infrastructure of the municipalities. One of the activities includes a reforestation program that has the goal of planting one million seedlings and provide environmental education. The families affected by the project that lived in houses hanging from the river’s side, without electricity and sanitation were relocated to an area with excellent infrastructure conditions and services. Around 30% of the proceeds from carbon credits will go to a Development Fund in the region to finance small enterprises.
UNFCCC CDM CERs
Cookstoves – (3 SDG’s)
Malawi (Africa) – USD $3.50
The project promotes sustainable development and the reduction of 26,328 tCO2e from non-renewable biomass fuel through distribution of improved household cookstoves. Energy supply in Malawi is dominated by biomass in the form of (firewood, charcoal, agricultural and industrial wastes) due to lack of affordable and reliable alternatives. Rural & urban households mainly use wood and charcoal respectively for cooking and the current supply does not adequately meet demand. Further, Malawi has an energy sector with low purchasing power, Household Air Pollution affecting mostly women and children, and vast land degradation caused by overharvesting of wood. The project ensures that biomass is sustainably used. Carbon emissions are reduced using energy efficient technologies alongside partnerships that promote the manufacture, supply, use and financing of improved cookstoves. Additional goals include: air and soil quality improvement; income and employment generation by local technologies, stove production, installation, marketing, logistical and administrative support, and monitoring; improvement of livelihood of the poor by reduction of household expenditure and time collecting and transporting wood fuel; reduction of accidental burns and scalds since the project stoves are safer than baseline stoves; lastly technology transference and technological self-reliance by the local design and test that do not involve exotic parts or tools.
You can also find on the CTX platform additional cookstove projects ranging from USD $2.50 – $4.50.
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.
