17,000 VERs sold in Climex Auction on 14 May

On 14 May the third VER auction was held on the Climex Auction Platform. 37,764 pre-CDM VCS II VERs from a Chinese Wind project from 2006/2007 were on offer. 17,000 VERs were sold for prices ranging between € 4.75 to 5 in three transactions. The auction started with a minimum price of € 4.50.

Members of the Climex Auction Platform received a Term Sheet and Sales contract prior to the auction. Because the VERs on offer had already been validated and verified, the auction was organised so that a transaction in the auction meant the actual closing of the sale. Buyer and Seller have signed the contracts provided by the Seller.

“This is a relatively new market in Europe where there are currently a limited number of buyers but which is expected to grow”, Axel Posthumus, CEO of Climex said, “With the VER auctions we want to offer buyers a direct way to purchase the credits they need straight from a project in an easy manner. The main goal for Climex auctions has always been to create standardisation, liquidity and transparency, to optimise the distribution chain and to provide access to carbon emission rights against low costs. We hope to provide a new group of players access to VERs and this auction proved this is working. Many potential buyers followed the auction with interest and hope more VER auctions will follow and we will do our best to accommodate and organise these. In May we also executed the first exchange traded Gold Standard VER transaction and we are working hard to expand the Climex VER Spot Platform.”