Carbon Trade eXchange (CTX)
2nd Floor Berkeley Square House, Berkeley Square, Mayfair, W1J 6BD London, United Kingdom
Carbon Trade eXchange (CTX): A message from our CEO
A message from our CEO
Voluntary Carbon Markets Task Force
For those who read the initial draft of this report, you may be surprised (or staggered as I was) to see that in the global market’s history CTX was ‘invisible’.
Equally surprising was the report almost glorifying the commoditised Chicago Climate Exchange (CCX) which failed dismally, and effectively discrediting of the 3 major credit standards we trade - UNFCCC CDM, Gold Standard and Verra VCS.
I have chosen to accept a belated invitation to join this group, because there is a grave danger the current path could plunge the Voluntary Market back into the dark ages of 2009 by ‘commoditising’ carbon credits to the lowest common denominator, perhaps driven by purported ‘future’ buying by fossil fuel companies for less money. Some might call that Greenwashing? More importantly, we do not agree with commoditisation.
Is this only our view?
Here is what the OTC Broker Industry ‘Association’ ICROA wrote to the Board of Gold Standard Foundation (GS) in January of 2011.
“1. Commoditisation of the market for GS credits may potentially mask the co‐benefits that make many projects unique;
2. A commoditised market drives a “race to the bottom” and discourages investment in higher‐cost, higher‐risk projects;
3. Excessively close ties with a commoditised market exchange carries repetitional risks for GS.”
Well, for once myself and ICROA (of which we are not a member) are in total agreement! Carbon Trade eXchange will continue as it always has - to provide its de-commoditised exchange platform for voluntary carbon credits and its soon to be re-released commoditised Global REC platform. We will continue with open, transparent trading with clearly defined features and benefits, including soon improved identification of SDGs, so premium projects continue to get the rewards they deserve.
And we hope our voice and yours will be heard!
Article and photo source: Press Release / Newsletter