50,778 VERs sold in Climex Auction

During the fourth VER auction on the Climex Auction Platform all VERs on offer were sold on a forward basis. A total of 50,778 validated VERs were on offer from two Chinese Hydro Projects with vintages from 2006 to 2008. Verification and delivery are expected later this year. The transaction was supported by Caspervandertak Consulting and Gansu Tonghe Investment Project Consulting Co. Ltd. who prepared the documentation for the projects and the emission reductions and presented the projects to Climex.
This was the first forward auction of VERs on Climex. One project sold at € 3.50. This price included the costs of verification. The other project sold at € 3,00. In this price the verification costs were not included.
The next VER auction on Climex is scheduled for 28 August 2008. During this auction around 23.500 Social Carbon VCS VERs from a Fuel Switching to Renewable Biomass project in Brazil will be on offer with vintages from 2008 and 2009. Part of the volume consists of issued VERs and part of the volume will be sold on a forward basis.

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When and how will the US carbon market link-up with the EU ETS?

By Jos Cozijnsen

In an early June session, the Lieberman-Warner-Boxer proposal for an economy wide cap-and-trade system in the USA did not survive the vote. To be clear, the vote that was held was not a vote on the bill, but on: whether to stop debating the bill and proceed to a vote on the bill itself.

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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.

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Gold Standard’s First Exchange-Traded Carbon Transaction Completed on Climex

On 7 May the first Gold Standard exchange-traded carbon offset transaction was completed on the Climex Voluntary Platform. In the transaction, Rabobank purchased Gold Standard Verified Emissions Reductions (VERs) from Tricorona.

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Voluntary Carbon Market: can it meet the growing demand?

By Jos Cozijnsen

Probably not, because not only the quantities are increasing, also the quality wanted is on the increase. And both elements cause the prices to rise.

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Climex: first trade in 'gold standard' voluntary credits

Cologne, 7 May 2008 – Climex today announced the first Gold Standard exchange-traded carbon offset transaction was completed on its new Voluntary Platform. In the transaction, Rabobank purchased Gold Standard Verified Emissions Reductions (VERs) from Tricorona. APX serves as the registry provider and administrator of The Gold Standard VER Registry TM. The APX platform allows participants to originate, track, manage and retire carbon commodities. Climex, the Netherlands-based carbon exchange, recently launched a continuous electronic trading platform for VERs, which is now linked to the Gold Standard Registry. The APX registry system makes it possible to transfer VERs in a quick, transparent and reliable way from one owner to the next in a transaction.

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Successful e-auction for the Dutch Ministry of Transport

Energiekeuze, the Dutch branch of Climex Energy Auction, proudly announces the organisation of a successful e-auction for the Dutch Ministry of Transport and Public Works (Ministerie van Verkeer en Waterstaat). The unique Climex concept of e-auctions once more proved its merits by achieving excellent results for the customer.

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Climex to auction 37,764 pre-CDM VCS II VERs

A total of 37,764 VERs from a Wind Farm Project in China will be on offer in a VER Auction on the Climex Exchange. The auction is scheduled for 14 May 2008.
The issued VERs are from 2006 to 2007 and have been validated and verified by TÜV Nord and accredited with the VCS 2007 standard. The minimum price the auction will start at is € 4.50.

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Climex auctions 37,764 VERs of Enel, May 14

Italian power generator Enel will sell 37,764 voluntary carbon credits generated from a Chinese wind farm through an auction on the electronic Climex exchange. The credits from the auction, which will take place on 14 May, have been issued and verified by TUV Nord and accredited with the Voluntary Carbon Standard, a minimum non-UN standard for carbon offsets. The sale will take place between 14.00 and 16.30 CET and the minimum price will be €4.50.
The credits come from the 15-MW Rongchend Donschudao wind farm project in north China. The project is a registered clean development mechanism (CDM) project and the credits for avoided CO2 come from power generated from 28 March 2006 through 26 May 2007.

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Energy brokers' association launches secondary CER index

<(pointcarbon, Oslo)strong>A UK-based brokers’ group announced Thursday it will launch a new index for trades of certified emissions reductions (CERs) starting 3 December to make pricing more transparent in the secondary market for the credits.

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How to shop VERs; Issues related to legitimacy and good and marketable title

By Yves Legault

The Voluntary Emission Reductions (VER) market, also known as the voluntary offsets market, is currently booming world wide. From a marginal market five years ago, VERs became today an important market stream inside the carbon offsets market. In its report entitled: State and Trends of the Carbon Market 2007, the World Bank was estimating the size of the voluntary market to be 100 millions USD with the highest potential growth among all carbon segments.

The rapid growth of the VER market has created several issues for the carbon market participants. Because VERs are not issued and traded inside a regulatory framework, many questions are raised related to the quality and legitimacy of the VERs that are currently on the market.

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Insight in the Voluntary Market; Segments and Standards

VERs are products that are ultimately purchased to compensate for realised emissions on a voluntary basis. Currently, these projects can belong to one of two groups:

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27,150 VERs sold in Climex Auction

The first VER auction was held 18 October on the Climex Auction Platform, operated by New Values.

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First European VER Auction held by Climex

The first European VER auction was held yesterday on the Climex Auction Platform, operated by New Values. 340,601 VERs generated in vintages ranging from 1999 to 2006 and from three projects, were on offer and 27,150 VERs from 2 projects were sold. The sellers chose not to disclose the price.
Members of the Climex Auction Platform received Term Sheets and ERPAs two weeks 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 will sign the contracts provided by the Seller, which can still be adjusted as desired, as long as both parties agree.
“We are pleased with the smooth proceedings and are very encouraged that we managed to sell almost 30,000 VERS in the first ever electronic auction globally for verified VERs, ,”Axel Posthumus, CEO of New Values, operating the Climex Exchange said, “This is a relatively new market in Europe where there are currently a limited number speculative buyers but which is expected to grow rapidly. The majority of the offset buyers are already working on contracts for 2008. 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.”

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'Shakeout” due on voluntary carbon standards'

The current plethora of standards for carbon credits in the voluntary market is due to shrink within the next year, as buyers seek consistency and clarity for evaluating carbon reductions, according to an expert panel at a carbon market conference yesterday.
“While it is true that there are too many standards out there right now for carbon credits in the voluntary market, the situation will be radically different a year from now,” Ricardo Bayon, director of the non-profit group Ecosystem Marketplace, told a carbon trading conference in San Fransisco.
“There are so many standards now that we expect a shakeout over the course of this year, through which a few main verifiers of emissions reductions will emerge,” Bayon said.

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