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Seamless exchange trading of top tier carbon credits now available through revolutionary partnership
Technology link between Climate Action Reserve and Carbon Trade Exchange demonstrates further maturation of carbon markets
LOS ANGELES, CA and SYDNEY, AUSTRALIA – The Climate Action Reserve, North America’s premier carbon offset registry, and Carbon Trade Exchange today announced a partnership that allows carbon market participants to seamlessly trade Climate Reserve Tonnes (CRTs) through a commodities exchange for the first time. The development signals strong growth in North America’s voluntary carbon market and potentially in California’s compliance carbon market, with over 12 million CRTs qualified to become Early Action Offset Credits in California’s market and more compliance-eligible credits being registered with the Reserve.
“This partnership brings new tools to the carbon market that will help increase transparency and also serve as evidence of the further maturation of the market. Advancements such as this are key to market growth and help to set the stage for working with other global markets in the future,” said Linda Adams, Chair of the Climate Action Reserve Board of Directors.
The new partnership links the Reserve and Carbon Trade Exchange systems, allowing transparent, exchange-cleared transactions on the Carbon Trade Exchange platform to be automatically reflected in the Reserve’s registry system. This linkage provides market participants with a simple, convenient, and efficient transaction platform when transacting CRTs and other Reserve issued credits.
“The voluntary carbon market is already global and Carbon Trade Exchange provides electronic, 24/7 trading services already to clients in 27 countries. We are extremely proud to provide this global access to buyers and sellers of Climate Reserve Tonnes in a deal that provides voluntary pre-compliance and regulated carbon market participants the opportunity to buy credits wholesale, real time electronically,” said Wayne Sharp, CEO of Carbon Trade Exchange.
All CRTs currently issued and those that will be issued in the future can be traded through Carbon Trade Exchange. Currently, over 33 million CRTs have been registered with the Reserve. These credits were verified against the Reserve’s offset project protocols, four of which were adopted by the California Air Resources Board (ARB) and credits issued under them are eligible to be transitioned to compliance offset credits issued by ARB. As an approved Offset Project Registry for California’s Cap-and-Trade Program, the Reserve is issuing more credits that are eligible to be transitioned to compliance credits.
“Advances in market infrastructure like this are critical to market liquidity and growth, but it is also important that the parties behind these advances have high quality products and services. Without the trust that comes with that real, high-quality offset credits, the market won’t embrace these advances,” said Gary Gero, President of the Climate Action Reserve.
Reserve initiates Urban Forest Project Protocol revision – seeking workgroup members
U.S. Landfill Project Protocol performance standard analysis update memo now available
Climate Action Offsetter: The University of Phoenix
written by the University of Phoenix
With about 700,000 alumni, more than 300,000 students and tens of thousands of employees and instructors, University of Phoenix has a large and vibrant community. Members of this global community proudly call themselves “Phoenixes.” And there are many reasons to take pride in being a Phoenix. Since our founding in 1976, we have become one of the largest higher education providers in North America, and we’ve made the dream of attaining higher education degrees possible for hundreds of thousands of working adults. For me, however, one of the most gratifying aspects of being a Phoenix lies in our commitment to clean energy and our work to support healthy and sustainable communities where our employees and students live.
As an institution, our motto is “Let’s Get to Work”, and this way of thinking is wholly manifested in our attempts to lower our carbon footprint by reducing greenhouse gas emissions. Additionally, we have put programs in place to prevent pollution, minimize waste, and conserve energy and natural resources. We believe vigilance today will go a long way toward preserving the environment for future generations.
One of the most important ways the University of Phoenix is working towards a cleaner future is through the purchase of Renewable Energy Credits (RECs). These are created every time a megawatt-hour (MWh) of clean energy is generated and added to the power grid. Once the electricity goes into the grid, the environmental attributes are bundled and sold. The University of Phoenix has used green e-certified RECs to contribute to wind projects in Texas and throughout the Midwest. This wind energy ultimately helps reduce fossil fuel-based energy.
We feel it is also very important to offset our carbon emissions that occur through the use of natural gas, on-site generators and emissions from transportation. We have set goals to reduce these emissions and then purchased carbon offsets to further reduce this impact. Carbon offsets are important because although we know they don’t remove our emissions, we believe they provide a positive net impact to the environment and climate, and promote innovative projects that help reduce the total amount of carbon in our atmosphere.
In addition to our investments in RECs and carbon offsets, the University of Phoenix furthers our sustainability goals with the implementation of comprehensive environmental policies and business practices. For example, through our many channels of communication we encourage and educate employees on environmental actions they can take at home, at work, and in the community. In the community, we support environmental education through a variety of non-profit partners, including the National Park Foundation, Cleantech Open and Green For All. You can learn all about our partnerships here.
At the operations level, we have taken steps to shift all copy paper to 30 percent post-consumer waste content and install energy efficient light bulbs. In fact, our lighting retrofit project alone is estimated to reduce over 1.3 million kilowatt hours of energy annually.
Another way the University of Phoenix is looking ahead is through our sustainability-related degree programs. Students can choose Bachelor of Science degrees in Environmental Science or Business, with a concentration in Sustainable Enterprise Management. We also offer a Master of Business Administration with a concentration in Energy Management. By training the environmental stewards of tomorrow, we are taking positive steps toward our sustainability goals.
We are proud of our commitment to building healthier communities by reducing waste, saving resources, and reducing local and national demand for dirty energy.
Register now for soil carbon scoping meetings: February 26 in Minneapolis and March 6 in Sacramento
Reserve scoping paper on potential peatland emission reduction projects is now available
Errata and Clarifications released for the U.S. and Article 5 Ozone Depleting Substances Project Protocols Versions 1.0 and 2.0
Errata and Clarifications released for the Rice Cultivation Project Protocol Version 1.0