Trading Symbols Light Up Spot Trades
It’s a Buyers Delight: A series of new symbols launched on CTX to help buyers (and sellers) identify best quality and value for their Carbon Credits. These can now be added to every Credit Standard listing, whether the Registry has the data easily available or not. Some Registries do not show easily or publicly the information of SDGs (Sustainable Development Goals) and on some like the CDM for example they sort of ‘buried’ in the documents in text. Biodiversity Co-Benefits, for example are often text , plus there is no central ‘list’ of CORSIA-accredited projects.
The following Accreditation Symbols can now be added by CTX Operations to any listing:
Once you have selected from “any combination” of Vintage, Credit Standard, Project Type, Region or Country, and selected your currency, the Index immediately matches your search (the last three trades and 52 Weeks of high, low and average size of trades.) This can then be sorted by price or new listings
Of Course, sellers must certify their inclusion on the listing and provide evidence to CTX when required if the Registry does not , so every client with a listing will be contacted in the coming days to update it.
Of course, Project Ratings have recently become the ‘next big thing’, but they did not raise $10s of millions to generate a return for their investors (or vested interests?). The concept of a “Rating” for individual projects we applaud, but at what costs and who pays?
If only 10% of listed credits are rated, is it fair to give ‘quality’ benefit and ”premiums” to those who could pay? How can a Hybrid Credit Unit, a token and an individual Project Rating ‘co-exist’? Is a “Futures” contract linked to a Hybrid Credit ‘basket’ using the highest or lowest rating in its ‘basket’? How does one know what you will get from that ‘basket’ anyways?
CTX decided to enable all its buyers to make their own decisions. When it comes to sellers, they are now receiving the benefits of the generally accepted ‘co-benefits’ they have already invested in or paid for as part of the projects.
CCB Gold or Silver is only applicable to Verra VCS credits.
European Sustainability Reporting Standards (ESRS)
Voluntary Carbon Markets are the support tool
In November 2022, the European Commission adopted the Corporate Sustainability Reporting Directive (CSRD) which detailed the legislation affecting approximately 50,000 companies across Europe to make reporting on their sustainability performance mandatory.
The directive is applicable to all large companies and those listed on regulated markets (Stock or Futures Exchanges), even listed SMEs and non-European companies with a subsidiary branch and a net turnover of €150m+ in the EU.
The following companies are required to report on their sustainability performance across the fiscal year (2023) in 2024.
To ensure the compliance with emissions, Disclosure Requirements E1-7 to E1-11 states that
As per the Disclosure Requirement E1-13, ‘GHG mitigation projects financed through Carbon Credits’ the company will need to disclose the amount of GHG emission reductions or removals from Climate Change mitigation projects outside its value chain through the purchase of Carbon Credits from the CTX platform. Needs amending
COP that! Africa Lights Up at COP27
Sharm El-Shiekh, Egypt: GEM / CTX Chief Operating Officer Ms Lee Barton, and Wayne Sharpe, Founder and CEO headed to Egypt for her first UNFCCC event at COP27 COP27. Within Lee’s first week pass courtesy of IETA, or even more precisely, within the first 48 hours she was presenting CTX and the GEM Registry Technology in French to the Democratic Republic of Congo (DRC) at their pavilion, and we were already starting to see some great results.
And so, it has begun – ten days for Lee and seven days for Wayne, packed with plenty of meetings, presentations, events, and negotiations.
A Huge thanks to our partners at the UNFCCC CDM Registry for equipping us with the ‘observer’ passes, but let us give you full disclosure – we did not just observe. Whilst we presented the value proposition of CTX at multiple pavilions, GEM’s Registry Technology inspired many to meet and discuss about new projects for Nations, States, and Cities.
Amongst many other highlights, meeting the new Director General of the Nigerian Climate Change Committee truly stood out for us since we presented in French and English to over 50 people, including the entire group of COMIFAC (Commission of Central African Forests) and (Responsible for the National Carbon issues for each nation ) in a huge room adjacent to the Main COP27 Plenary. But the real deal was we agreed on a Pan-African Strategic Ambassador deal with Dr Paul Abolo of Ecologistics – covering both GEM and CTX for technology and trading units (responsible for the national Carbon issues for each nation) in a huge room adjacent to the Main COP27 Plenary. As a result, we are humbled to announce that we agreed on a Pan-African Strategic Ambassador deal with Dr Paul Abolo of Ecologistics, covering both GEM and CTX for technology and trading.
Over the course of two weeks, we also met DRC, Congo Basin, Nigeria, Indonesia, Brazil, Chile, South Africa, Singapore, Kenya, Botswana, Colombia, Egypt, and United Kingdom, among a few other countries. Stay tuned because many more exciting announcements are yet to come.
Membership Growth – Key to Exchange Success
For over 20 Years I had the privilege of being a CEO and a Founder of Bartercard, the world’s largest B2B Barter company, and in that time, we signed up over 50,000 businesses in 20 countries, with over 34,000 active accounts..
Every business can Barter, so, of course, it was an endless list of possible ‘members’, whilst in Carbon, not every company is willing or able to buy Offsets. Carbon Credit origination has become increasingly ‘focussed’ on very heavily financed companies with the resources to fund the expensive cost of Credit issuance via major Credit Standards.
However, our ever-expanding Business Development team led by Mano Lavan X are kicking goals across the world:
UCR is the first and the largest Indian Voluntary Carbon Standard and Registry known for its simple, yet fast and scalable protocol to accelerate the origination of Voluntary Carbon Credits from green projects, using a hybrid blockchain technology solution that’s now linked to CTX.
Data Finally Emerges – Red Hot and Real
As CTX is pure Spot Trades 95% of the proceeds goes to the project /credit owners. So far, we have only done data up to September for this year – and the blend of source of Credit Standards and Location is already changing with far more BioCarbon credits sold lately and now lots of new listings from Universal Carbon Registry.
The ultra-low prices of CERs have also recently seen high demand for corporate portfolios so Average prices lowered.
CTX has often been inundated with requests for trading data, something that is currently only available in a complex form on the live CTX platform.
Our competitors publish regular data for their hybrid contacts or Futures, but Futures could change hands 10-15 times before Carbon Credit is ‘delivered’ (and not necessarily as an offset).
Due to diversity of listings and search functionality, our data is much more complex, hence we now have a Data Analyst who homogenises the data into reports that can hopefully soon be distributed. How we deploy this data is still to be decided on, but here’s a glimpse:
Media Update: 24 Hours of Rocket Fuel our latest press release results blew us away
Our press release about the African Agreement we forged in Egypt at COP27 went global – big time. Check it out here and in multiple languages here
And the Statistics in the 1st 24 hours- you be the judge.
Projects of The Month
Clean Mechanism (CDM) Project:
Run Of River Hydro Vietnam
Project ID: CDM 4823
The Ba Thuoc 2 is a run-of-river hydropower project situated in Dien Lu and Luong Ngoai Communes that are situated in one of the poorest areas in Vietnam.
The project utilises water resources of the Ma River and helps to preserve non-renewable resources by promoting the exploitation and use of renewable resources. In Vietnam, the contribution of renewables to overall electricity decreases year by year. As one of the most-sensitive countries to the global challenges caused by Climate Change, Vietnam citizens have already experienced some of the most strenuous climate events which are expected to occur even more frequently.
Government of Vietnam has, therefore, developed a plan for flood and drought prevention, including the operation of hydropower plants for storing water during the rainy season and releasing it when water is lacking during the dry season.
Power plants, such as Ba Thuoc 2, are renowned for securing the daily life of the local population. The access to natural resources is improved for optimising agriculture and preventing the land from getting flooded and being polluted by hydraulic stress.
Run-of-river hydropower plant is required for flood and drought prevention in this highly sensitive area where no resettlement is required.
Positive benefits rely on green and renewable energy production, local employment and energy independence.
Gold Standard Project:
Methane Gas Capture and Electricity Production at
Kubratovo Wastewater Treatment Plant, Sofia, Bulgaria, Biogas
Project: ID4238
The project is both a methane emissions reduction and energy production project. Sofiyska Voda operates the water cycle of Sofia and is responsible for the water supply, wastewater collection services and wastewater treatment.
The overall objective of the project is to provide an environmentally friendly sludge treatment process reducing methane and carbon dioxide emissions. With the technological implementations carried out in 2017, over 91% of the electrical energy required for all services is provided by its own production.
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.
