CTX February 2024 Newsletter | Issue #151

New Year sees CTX Team Expansion!

In January, we began with a bang – New Member records were broken. After signing in 10 New Members in December, CTX surged past 120 for the year – totalling over 600. As the world’s oldest and largest carbon exchange / trading platform, records tumbled again in January with 12 new members, new staff, and another record number of transactions. “Repetitious,” you say? Well, it's certainly better than the constant negativity we see from many for sure. When we add to that our new records for CTX listings (detailed below in the Newsletter), it marks a very bright start to 2024.

CTX India is Assigned Indian Clients

Our fabulous new Licensee in India boasts a large, dynamic team ready to begin selling and available to handle your inbound enquiries. Their new website, https://ctxindia.co/, connects you with the team, freshly trained by experienced CTX Executives in Administration and Sales, led by Mano Lavan and Atul S. , who will now roll back into their international sales roles. CTX Indian members have received an email regarding the handover of their accounts, which will now be serviced out of India, while CTX Operations, Finance, and Trading continue to offer our usual support.

We are actively seeking Buyers in India – for obvious reasons – so let's see plenty of referrals for Corporate Buyers, Reseller Brokers, or Sustainability Consultants (#no crypto thanks).

Project Type Listing Update

We have an update for you regarding the positive changes being made to our project listing protocols. By listing projects in a more accurate and specific category, we can provide buyers with greater visibility, making it easier for them to find what they are looking for.

As part of this effort, we are updating our “cookstoves” project type listing. Previously, Cookstoves were categorised under “Energy Efficiency Domestic Sector and Energy demand” (the UNFCCC PT). This update will see them transferred to their own “cookstoves” project type.

REDD (REDD+) projects, previously listed under ‘AFOLU’, will be moved to the "REDD" project type and will also feature the REDD+ symbol. This means "AFOLU" now only applies to Verra VCS.

"Energy Industries" currently encompass Wind, Hydro, Solar, and other project types under "Energy Industries - renewable / non-renewable sources." However, we will soon be relocating these projects to more specific categories such as "Wind," "Hydro," and "Solar." This may also apply to other projects like Biomass or Landfill Gas. These changes will predominantly affect Verra , Gold Standard , and CDM / CTX CERs credits.

If any of our sellers have any concerns or questions about these changes, please contact our operations team at [email protected] for further assistance. We are committed to making this transition as smooth as possible for everyone involved.

CTX Listings – New Records Set Again!

ITMO Auction Hits Unavoidable Delays

ITMOs are Carbon Credits issued by Projects that are operational, verified, and issued or capable of issuing high-quality credits but need a crucial additional step of National Approval to transfer outside their nations' Paris Agreement NDC. The approval is in the form of a letter, with specific criteria signed by the National Authorised Government Agency. Despite immense interest from major global buyers to participate, CTX is waiting for projects with the correct structure and approval to be ready before we can launch the Auction. The Global Environmental Markets Pty Ltd (GEM) technology and contracts are ready, and qualified buyers (budget $5 Million+) or sellers (with approvals) can email their interest to [email protected], but for now, it looks like this will be delayed until April.

Projects of?the Month

1. Verra VCS

Hydro Project - 4 SDG’s

Turkey (Asia) - USD $2.20

The run of the river hydroelectric plant generates electricity from renewable resources and contributes to an estimated of 846,765 tCO2 emission reductions in a 7-year crediting period. The plant reduces the demand for new thermal power plants that use fossil fuels as well as the dependency on imported energy.?

The plant creates direct and indirect employment opportunities for the local people during construction and operation phases. Newly built roads provide easier access to villages in the region. The project also supports the local stakeholders, the schools, and surrounding villages. Lastly students who need financial assistance are granted scholarships.

Buy Credits Here

2.? Gold Standard

Biogas Heat Project - 3 SDG’s

Asia (China) – USD $3.20

The project helps farmers construct and install 15,946 biodigesters in 15,946 households of 17 towns in the Hainan Province. Before the project, all the swine manure was left and stored in an uncovered pit) for three months releasing a large amount of methane in the atmosphere. In addition to this, households used coal for cooking and heating.?

The constructed biodigesters collect and handle the manure of the pigs and collect the biogas generated for heat supply and cooking. The combined annual GHG emission reduction for both components of the project is estimated at 55,029 tCO2e per year.?

Buy Credits Here

3. Verra VCS

Cookstoves - 3 SDG’s

Madagascar (Africa) - USD $5.27

This project reduces greenhouse gas emissions by distributing fuel-efficient Improved Cook Stoves in various districts of Analamanga region of Madagascar. Around 82.2% of the people in the region depend on firewood and charcoal as cooking fuel. These products come from the forests and local markets. Burning firewood or charcoal leads to significant GHG emissions and increases expenditures for buying the fuel as well as time spent on collecting the firewood. In addition to this, firewood collection and charcoal production leads to increased deforestation and environmental degradation.

With the implementation of the project the old low efficiency traditional cookstoves are replaced with new high thermal efficiency, low greenhouse gas emitting cookstoves known as Improved cookstoves (“ICS”). The estimated annual average GHG emission reduction from the project is 313,237 tCO2e and the GHG emission reduction estimated for the whole crediting period is 3,132,379 tCO2e.

Buy Credits Here

CTX Members, if you have any questions, please email [email protected].

Thank you all for your contributions to help save?the planet for our future generations.