ICE to Host Auctions of Nature Based Carbon Removal Credits for GreenTrees
August 08 2022 - 09:15AM
Business Wire
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global
provider of data, technology, and market infrastructure, today
announced that it plans to begin carbon credit auctions for
GreenTrees, a global leader in reforestation.
GreenTrees is the number one reforestation program operator in
the United States by credit issuance and wholly owned by ACRE
Investment Management LLC. ICE plans to host two carbon credit
auctions for GreenTrees in the fourth quarter of 2022. Each auction
will offer 250,000 Emission Reduction Tons (ERTs) from GreenTrees’
reforestation projects. The ERTs offered for sale by GreenTrees are
issued by the American Carbon Registry (ACR) with each ERT
representing the removal from the atmosphere of the equivalent of
one metric ton of carbon dioxide.
“Forestation is nature’s technology for removing carbon and
represents the most viable, scalable, cost-effective means for
answering climate change now and in the future. GreenTrees is the
only carbon removal project that is open to small, medium and large
landowners, covering acres from as low as 7 acres, up to 3,500
acres,” says Chandler Van Voorhis, Manager, and Co-Founder of
GreenTrees, LLC. “By working with ICE, the world’s leading
environmental marketplace, we can now connect one of the largest
global networks of companies to everyday landowners, who are our
first responders to climate change.”
“Leveraging our long history in environmental markets and our
global customer base, our goal for the carbon credit auctions is to
bring price discovery and transparency to the primary market,
allowing buyers to invest in high quality carbon credits from
leading carbon credit project developers,” said Gordon Bennett,
Managing Director of Utility Markets at ICE. “As companies
increasingly recognize their emissions footprint as liabilities,
recognizing the cost of pollution in their business models,
companies will invest in emissions reductions and removals. As
demand increases for these assets, price risk management will
become increasingly important.”
ICE has operated environmental markets for almost two decades
and offers customers access to the largest and most liquid
environmental markets in the world. During this time, over 100
billion tons of carbon allowances, over 250 million renewable
energy certificates, three billion carbon credits, and the
equivalent of over 1.4 billion Renewable Identification Numbers
have traded on ICE.
ICE has a ten-year history in conducting carbon auctions, having
conducted carbon allowance auctions on behalf of the UK Government
since 2012.
Further details on the carbon credit auctions, including how to
take part, will be announced in due course. In the meantime, please
contact Sales-UtilityMarkets@ice.com.
About GreenTrees
GreenTrees is wholly owned by ACRE Investment Management, LLC
(AIM). The AIM platform is designed to both deploy the ACRE
mechanism across a portfolio of companies while driving scaled
impact into the restoration economy. The purpose of GreenTrees is
to answer climate change through a revolution in reforestation.
With 128 years of carbon removal experience, and more than 133,000
acres of reforestation cleaning the air, purifying the water, and
providing critical habitat, the parent company’s new ACRE IO
platform will enable reforestation projects all over the world.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune
500 company that designs, builds and operates digital networks to
connect people to opportunity. We provide financial technology and
data services across major asset classes that offer our customers
access to mission-critical workflow tools that increase
transparency and operational efficiencies. We operate
exchanges, including the New York Stock Exchange, and
clearing houses that help people invest, raise capital and
manage risk across multiple asset classes. Our comprehensive fixed
income data services and execution capabilities provide
information, analytics and platforms that help our customers
capitalize on opportunities and operate more efficiently. At ICE
Mortgage Technology, we are transforming and digitizing the
U.S. residential mortgage process, from consumer engagement through
loan registration. Together, we transform, streamline and automate
industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key Information Documents for
certain products covered by the EU Packaged Retail and
Insurance-based Investment Products Regulation can be accessed on
the relevant exchange website under the heading “Key Information
Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2021, as
filed with the SEC on February 3, 2022.
ICE- CORP
Source: Intercontinental Exchange
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version on businesswire.com: https://www.businesswire.com/news/home/20220808005371/en/
ICE Media Contact: Rebecca Mitchell
Rebecca.Mitchell@ice.com +44 7951 057 351
ICE Investor Contact: Mary Caroline O’Neal
marycaroline.oneal@ice.com (770) 738-2151
GreenTrees Media Contact: Elizabeth Buccianti, Gabriel
Marketing Group elizabethb@gabrielmarketing.com 407-463-8865
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