ALLCOT and AitherCO2 enter into a partnership in the European Compliance market
ALLCOT and AitherCO2 (from Milan, Italy) have entered into a strategic partnership for East European markets. Through this collaboration ALLCOT is now able to extend its services in the EU-ETS compliance market.
The first milestone in this alliance was the winning of a tender organized by Electrocentrale Bucharest (ELCEN) for “The acquisition of 1,300,000 European Union Allowances (EUAs), greenhouse gas emissions certificates for compliance purposes”.
European Union Allowances (EUAs) are the main carbon allowances traded in the EU Emissions Trading Scheme (ETS), and the limit on the total number available gives them a value. Each year, the emissions of facility operators are audited, after which they have up to the end of April to surrender the entire number of permits covering emissions for the previous year.
Those organizations that emit more carbon than their cap must buy additional EUAs, while those that are able to reduce their carbon emissions below their cap are allowed to sell their excess EUAs. Through this partnership ALLCOT is able to rapidly respond to EU-ETS installations’ needs.
“ALLCOT Group is a well-established environmental market leader with an extensive global presence. Our Carbon Trading operations provide instruments for our clients to efficiently and effectively manage their carbon exposure. This agreement with AitherCO2 will help us to continue with this philosophy”, Alexis L. Leroy, Founder and CEO of ALLOT, says.
AitherCO2 is a provider of financial services to the world’s environmental and energy markets offering consultancy and trading solutions supporting companies subject to compliance as well as in the voluntary sector. AitherCO2 is a major trading house within environmental markets with an extensive presence worldwide.