London, 7 August 2009 

Once again Climex is introducing a completely new auction approach, this time to bring affordable Gold Standard VERs within reach of ‘smaller’ buyers through a very accessible set up, with a first online auction scheduled for 24 September 2009. 

Climex has entered a special arrangement with ITC, regarding their Turkish Landfill Waste Management Project ‘Mamak’. Volumes up to 25,000 tonnes of issued Gold Standard VERs will become available to the market through auctions in a standardised, efficient and therefore cost effective manner. This way it is feasible for every kind of organisation and buyer of Gold Standard VERs to directly buy the credits themselves, at prices which have only been seen so far in large scale bilateral transactions. All this is now possible starting from a minimum volume of 500 tonnes!

 “The advantage of this approach is that buyers do not have to spend a lot of time shopping around to acquire Gold Standard VERs, finding out if they are quoted at the right price, negotiating the deal and closing the VERPA”, says Sascha Bloemhoff, Commercial Director of Climex. “On top of this, buyers do not need to have all the nitty-gritty knowledge either. We are offering them a high quality project, which has been accredited with the Gold Standard and is available in the Gold Standard Registry. We have also checked the contract and assured it to be in line with market practice.”

The process will work as follows:
▪ Interested and registered buyers will receive extensive project information and a VERPA before each auction.
▪ Buyers can place anonymous bids during the online auction.
▪ If the transaction is successful, the details of the buyer, seller and the transaction will be entered into the VERPA, which will then be signed.
▪ The buyer receives an invoice for the transaction and upon payment the GS VERs are transferred from the seller’s account into the buyer’s GS Registry account.

To gain Gold Standard certification, a carbon offset project must use renewable energy or energy efficient technologies, promote local sustainable development and rigorously demonstrate additionality.

The Mamak Project is a Landfill Waste Project in Turkey. It reduces high amounts of emissions and also eliminates many negative side effects and social problems, like health risks for the people living in the neighbourhood and/or living on and off the waste site.
The basic technological principle of landfill gas projects is to literally cover the landfill site and assure proper insulation of the bottom. Subsequently methane is extracted from the landfill body through vertical gas wells; gas collection and transportation pipes transfer the gas to the extraction plant. The gas is used for power generation, which reduces greenhouse gases (1) by destroying the methane and (2) by producing green energy and thus replacing fossil-fuel derived energy.

Members of Climex will automatically receive full details on the auction and the project by Climex. Buyers interested in participating in the auction can contact Climex for more information or register for free membership with the Climex exchange:

www.climex.com