GCC, S&P Global Commodity Insights, And CIX Announce Strategic Agreements To Enhance Carbon Market Services And Liquidity
Date
12/12/2024 2:35:03 AM
(MENAFN- The Peninsula)
The Peninsula
Doha: The Global Carbon Council (GCC) has signed two significant agreements aimed at transforming the carbon market by providing enhanced liquidity and ensuring market integrity.
GCC and S&P Global Commodity Insights Sign Strategic Agreement to Enhance GCC 2.0 Carbon Market Services GCC has signed a new Registry Services Agreement with S&P Global Commodity Insights (SPGCI).
This agreement marks the beginning of a new chapter of collaboration between GCC and SPGCI, aimed at serving the new-generation carbon market implementing GCC 2.0. SPGCI will provide GCC with its comprehensive registry services for transacting ACCs and ARECs through its Environmental Registry platform.
GCC has also entered into a strategic tri-party agreement with S&P Global Commodity Insights (SPGCI) and Climate Impact X (CIX), a leading carbon market solutions provider based in Singapore.
This strategic collaboration is set to revolutionize the carbon market by providing project developers with streamlined access to global buyers and enhanced liquidity. As GCC's issuance of high-quality ACCs continues to grow, this integration addresses a critical market need: enabling project developers to efficiently monetize their credits while offering buyers at CIX transparent, credible, and verifiable carbon credits.
Dr. Yousef M. Alhorr, Founding Chairman of the Global Carbon Council (GCC) said on this occasion,“We believe our three-party collaboration will unlock new avenues of liquidity for our project developers, creating far-reaching opportunities to scale up carbon offsetting initiatives and drive meaningful environmental impact.
By joining forces with Climate Impact X and leveraging S&P Global Commodity Insight's Environmental Registry, we are enhancing our ability to facilitate the seamless trading of high-integrity carbon credits issued by GCC. As I reflect on the incredible journey of the GCC program, it's clear that our efforts have earned us global recognition, with over 1,500 submissions from GHG mitigation projects across 45 countries.
The agreement we signed today will further expand the GCC program, helping foster sustainable development and supporting the transition to a low-carbon economy. This partnership is a testament to the power of collaboration, and together, we are creating a robust marketplace to drive transparency, efficiency, and accountability in carbon credit transactions. I look forward to the continued success this collaboration will bring.”
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