London, 27 November 2010

Chicago Climate Exchange (CCX) which opened to huge fan fare in 2004, has announced that it will soon cease trading carbon; the very reason for its inception. The US-based operation was only open to US businesses, implying that Carbon trading in North America has ceased.

Alarmingly, this major news story, like the Exchange itself, has disappeared with a whimper. The story has either gone unreported or has been used by the American right, notably Fox News, to condemn the green movement and gleefully rejoice the demise of the only US effort at carbon trading.

Perhaps, most worrying is the rhetoric being used to describe the failings of the Exchange. Irresponsible and regressive reporting on the very real and potentially catastrophic threat of global climate change is now describing rigorous scientific data as “pseudo-science” and harmful pollutants have become “so-called greenhouse gases” despite irrevocable scientific evidence ruling to the contrary supported by the UN and an EPA.

With the US economy in trouble and hopes of a quick recovery now a distant memory, US commentators claim the downfall of CCX reflects that the world has cooled on the subject of global warming when faced with pertinent economic threats. While some big business (notably major emitters of GHGs) and the US media undoubtedly have little appetite for costly cap-and-trade and increased legislation, particularly, after the US mid-term election results, there is an alternative approach to carbon reduction, which is proving more successful. Major global companies such as Walmart, HSBC and News Corp are voluntarily reducing and/or offsetting their emissions and encouraging or even forcing that process down their supply chain.

Carbon Trade Exchange is a global carbon exchange which promotes a positive business message. Carbon limitations through cap-and-trade and legislation have proven unsuccessful because they are perceived as anti-business, inflame insidious climate change-denial and act as a stick with which to beat businesses when they are already down.

Carbon Trade Exchange provides a new business model for carbon trading attuned to the chastened economic times. It is a global carbon credit trading exchange that enables carbon buyers and sellers from around the world to trade voluntary carbon standards in an extremely efficient, end-to-end electronic process. Carbon Trade Exchange is the world’s first web-based electronic platform for spot trading Voluntary Carbon Credits (VERs) and will soon facilitate trading of international offset credits (Certified Emissions Reductions or CERs).

Unlike the failed Chicago Climate Exchange which carried out in-house assessment, verification, issuance, registry and trading of their own standard of carbon credits, Carbon Trade Exchange is truly independent. VERs are verified by reputable, independent third party standards, such as Voluntary Carbon Standard and Gold Standard, who verify projects environmental and operational credibility, and issue credits.  These standards have been independently asserted to be equivalent to the UN’s Clean Development Mechanism ( CDM) to ensure environmental credibility throughout the process. Global financial service Giant Markluit acts as an independent registry to ensure validity of credits issued and ownership.  Companies of all sizes want to reduce and offset their Carbon ‘footprint’, but there has previously been a veil over the process, price and origination of VER credits.

Carbon Trade Exchange ensures carbon offsetting is accessible and affordable for businesses and organisations of every size. It recognises that carbon reductions should not impede business, but be used to gain a competitive advantage and a differentiated product. It makes carbon neutrality viable for any business that wants to improve its efficiency and neutralise its environmental impact.  It does so by measuring and quantifying each client’s emissions output, and offsetting it through investment in green energy and environmental projects, to reduce greenhouse gases and promote green business and community projects across the world at the same time.

The Carbon Trade Exchange platform has shown that tackling climate change should not be the preserve of big business when small and medium sized enterprises account for an estimated 70% of global GDP. For the fight against climate change to be successful, opting-in must be made as attractive and accessible for as many as possible, because the world’s current economic problems will pale in to insignificance if urgent action on climate change is not taken now.

It seems global players and opinion formers agree, as shown by the massive growth in the Carbon Disclosure Project, which says “Some 3,000 organisations in some 60 countries around the world now measure and disclose their greenhouse gas emissions and climate change strategies through CDP, in order that they can set reduction targets and make performance improvements” and “act on behalf of 534 institutional investors, holding $64 trillion in assets under management and some 60 purchasing organizations such as Cadbury, PepsiCo and Walmart.”

As Wayne Sharpe, founder and CEO of Carbon Trade Exchange says: “Some very smart people on this planet and in business are seeing the scientific evidence and taking action, as I chose to do by forming Carbon Trade Exchange. The opportunity to address this challenge is now or never and business can and will take the lead as with any revolution, whether it’s the Industrial Revolution, Internet Revolution and now the Carbon Revolution.”

A Carbon constrained economy is upon us, and the naysayers are risking the future of our planet. Perhaps its time for the global media to take their responsibilities seriously and match the energy and commitment of business leaders in the face of political stagnation The livelihoods, perhaps the very lives of our children and grandchildren may depend on it.

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