AUSTIN, Texas -- Starting today at 9:30 am Eastern/8:30 am Central, Texas Climate & Carbon Exchange (TCCX) opens worldwide trading, making the carbon credits of 145 members from 22 companies available to companies, utilities, and municipalities in North America. The electronic, emissions offsets mercantile dedicated to global trading of carbon offsets and credits celebrated the launch of the exchange last night in the Chase Tower in downtown Austin in the stalwart Headliners Club. TCCX is the sole licensee for the Carbon Trade Exchange for the United States, Canada and Mexico.
The event introduced TCCX executives (Melanie Barnes (CEO), Pam Reed (CXO), Jerald Wrightsil (COO), and Jo Reser (General Counsel)), Carbon Trade Exchange’s co-founder Nathan Rockliff (Sydney, Australia), and Mari Moritsugu, representing the municipality of Ōita—a flagship partner—also representing The O-Rid Corporation. Moritsugu is also the general manager of the Ōita Heat Devils, the city’s professional basketball team.
“Carbon Trade Exchange is proud to establish its first USA trading relationship from a central and strategic market such as Texas,” Said CTX’s Rockliff. “We see the US market as one of the fastest growing for Carbon in the world over the next decade.”
Distinguished guests for the special reception included representatives from Austin Energy, Blue Avocado, Circuit of the Americas, City of Austin, Clean Power Professionals, Environmental Defense Fund, Keystone Energy, Pecan Street, Inc., RES Americas, SXSW Eco, Tiga, and Representative, State of Texas - 'Honorable Mark Strama.'
The event commemorated the opening of North American trading with this global exchange as well as the exchange’s Australian and Japanese partners. The World Bank estimates the carbon trading industry will exceed a market value of $1 trillion by 2025.
About Carbon Credits
A carbon credit represents one ton of carbon dioxide equivalent that is removed, avoided or sequestered. Carbon credits are widely viewed as an existing, actionable answer to reducing the amount of greenhouse gas emissions in the atmosphere. The generation and sale of carbon credits funds carbon projects that would not have been feasible otherwise. Carbon credits also help lower the costs of renewable and low carbon technologies as well as assisting in green technology transfer to developing countries.
Benefits of Carbon Exchange Markets
Like other carbon exchange markets trading across the globe—including Texas Climate & Carbon Exchange, International Carbon Exchange, Advanced Global Trading, Green X, The Carbon Fund— TCCX is both a voluntary greenhouse gas reduction and offset trading program, as well as a cap and trade offset trading program. TCCX will help businesses, industries and individuals to understand, measure, and monetize their voluntary emissions reductions efforts—while preparing for potential regulation at the local, statewide, national, and international levels.
About the Carbon Market
The worldwide carbon market can be divided into two: the voluntary market and the regulatory (compliance) market. The voluntary system provides a means for businesses to quantify the true impact of industry's effect on our climate, while realizing the economic advantages of adopting environmentally friendly business practices. Cap and trade has not been legislated yet in many markets; however, competitive branding in this era of social network marketing demands green corporate practices including carbon footprint reduction. In the compliance market, carbon credits are generated by projects that operate under one of the United Nations Framework Convention on Climate Change (UNFCCC) approved mechanisms such as the Clean Development Mechanism
TCCX supports the trading of both voluntary and compliance credits. It is important to note that carbon credits differ from carbon allowances, yet the term carbon credit is interchangeably used to represent both. Although in most cases they both equal one ton of carbon dioxide equivalent, allowances do not originate from carbon projects but are allocated to companies under a 'cap and trade' system such as the EU Emissions Trading Scheme—therefore, they represent the right to emit.
Apply For Membership with TCCX
Cities, corporations, utilities, and individuals seeking to trade on the Texas Climate & Carbon Exchange must apply for membership by registering at www.tccxchange.com/registration.shtml Questions should be directed to Melanie Barnes at firstname.lastname@example.org 512/422.1023
About Carbon Trade Exchange (Sydney, Australia)
Carbon Trade Exchange (CTX) has been established to aid the growth and transparency of the carbon markets and become the world’s most inclusive trading platform. CTX maximizes the environmental benefits of carbon trading by bringing unrivalled liquidity and reach to all market participants. CTX offers its members a trusted and transparent electronic marketplace for buying and selling carbon credits. CTX supports the trading of carbon credits that are originated under both the United Nations Clean Development Mechanism (CERs) and independent voluntary standards (VERs). Their platform allows businesses to meet their compliance obligations under the EU Emissions Trading Scheme and other cap and trade systems—as well as voluntarily offset residual carbon emissions to become carbon neutral.
About Texas Climate & Carbon Exchange (TCCX)
TCCX is an emissions offsets mercantile dedicated to global trading of carbon offsets and credits for cities, corporations, and utilities. TCCX was established in 2011 as both a voluntary—and a cap and trade compliance—offset trading program. TCCX will help businesses, industries and cities to monetize their voluntary emissions reductions efforts.
- TCCX will use an Austin-based exchange and will network with cities around the world to create a market for the purchase, sale, and exchange of environmental credits.
- Commodities traded on the TCCX will include carbon offsets, renewable energy credits, emissions allowances and other environmental attributes.
- All emissions offsets will receive independent verification.