Geneva, 9 December 2010

In one of the most notable voluntary carbon market deals done on the sidelines of COP16, Carbon Trade Exchange (“ CTX”), the world’s first web-based electronic platform for spot trading of Voluntary Carbon Credits and The Gold Standard Foundation, which manages the benchmark certification programme for premium quality carbon offsets, today signed an agreement that paves the way for Gold Standard credits to be transacted on CTX.

Gold Standard credits are set to be listed on the exchange, which enables carbon buyers, sellers and brokers from around the world to trade most major internationally recognised voluntary carbon standards online in a simple and efficient, end-to-end electronic process. CTX provides one easy interface on which to buy credits and track prices, enabling developers to have a clearer price signal to make investment decisions and buyers to have greater confidence and choice. The deal demonstrates that the voluntary market is prepared to lead the way in demonstrating best practice through increased transparency.

Adrian Rimmer, CEO of The Gold Standard Foundation said, “In order for the voluntary market to mature, it needs greater price transparency, customer choice and liquidity. Recognizing our influential role in the voluntary carbon market, we are making Carbon Trade Exchanges’ robust platform available to our stakeholders because it will drive the growth that the market needs.”

Wayne Sharpe, CEO of CTX said, “Businesses must take the lead to educate on this issue, and lead by example by offsetting and reducing CO2 emissions. We chose to develop the technology and tools needed to solve this global problem. This agreement in principle with The Gold Standard Foundation gives our clients access to the most internationally recognised and highest quality carbon credits. Business leaders cannot sit idly by or wait for Government regulation when there is so much that can be done to deal with the issues and opportunities presented by climate change. Many genuine leaders in the business community have chosen to make their companies carbon neutral despite no requirement to do so and every business should be following their lead.”

By working together to build the market, the new leader in electronic trading and the most reputable certification standard are demonstrating that business is taking the initiative to combat climate change, spur innovation and create solutions. Numerous speakers at COP16, including Ted Turner, Sir Richard Branson and Lord Nicolas Stern, have encouraged this type of business leadership.

Carbon Trade Exchange is currently in Cancun as part of the British Government’s trade delegation and is participating in the Department of Trade and Investment’s stand at the Green Solutions’ fair at the COP16, which is an initiative of the Mexican Government. The Gold Standard has an active CDM and voluntary project pipeline in Latin and South America, including five projects in Mexico. The first ever CDM Program of Activities, which has distributed more than 30 million energy efficient light bulbs across Mexico, was recently registered under the Gold Standard.

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Carbon Trade Exchange

Carbon Trade Exchange is the world’s first truly global electronic platform for spot trading of Voluntary Carbon Credits. The aim of CTX is to provide a trusted marketplace where businesses can buy emissions commodities with confidence in the quality and origin of the products being sold. The CTX platform allows buyers to search for credits based vintage, credit standard, project type and country of origin. It also provides full price transparency by tracking an offset from its generation and verification through to its transfer and eventual retirement through its electronic interface with the Markit Environmental Registry. The existence of CTX will make it easier and cheaper for companies to offset as an effective means in going carbon neutral.

CTX operates from offices in London, Australia and New York and has a dynamic and highly experienced management team supported by a global board of Directors, led by Founder and CEO, Wayne Sharpe.  Sharpe’s passionate commitment to combating global warming led to the conception and development of the CTX model, using 20 years of knowledge and experience gained by building Bartercard into the world’s largest credit unit exchange: 110 offices worldwide with over $25 billion traded.

Gold Standard

The Gold Standard Foundation developed and manages the Gold Standard, the leading certification standard for carbon emissions reduction projects. CDM/JI and voluntary projects in the renewable energy and energy efficiency sectors are currently eligible for certification under the Gold Standard.

The Gold Standard applies strict technical rigor and sustainable development requirements to ensure that all projects positively impact the local host community by delivering environmental, economic and social benefits. The Gold Standard is endorsed by more than 65 nongovernmental organizations worldwide including WWF, Greenpeace and REEEP (the Renewable Energy & Energy Efficiency Partnership).

Due to their strict criteria, Gold Standard carbon credits are preferred by a range of government and large private sector organizations and thus typically command a price premium over both voluntary and compliance market prices. This premium demonstrates the value placed by buyers upon robust environmental credentials and sustainable development benefits.