Carbon Trade eXchange (CTX) Launches ITMO Carbon Auction: Investors Can Now Enter Most Important Carbon Market on Earth
July 03 2024 - 1:47PM
Business Wire
The long awaited ITMO Auction is ready to take buyer
Registration via the world´s first and leading global Voluntary
Carbon platform, Carbon Trade Exchange (CTX). Carbon market
brokers, investors plus new players like family offices or funds
can participate.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240703957790/en/
Malawi Vice President Honorable Michael
Usi with Gold Standard CEO Margaret Kim at COP28 Dubai (Photo:
Business Wire)
The Auction will commence on Tuesday 16th July to
finish on Tuesday 23rd July 2024, hosted at
https://ctxglobal.com/auctions/. Auction starting price is $10
USD per credit, with minimum starting bid of only
$250,000.
Featuring 1.5 million issued credits for sale, already
escrowed in CTX’s Gold Standard Registry account, triggers much
needed climate finance, benefiting people across Malawi. ITMO
prices are forecast by many exerts to be $100+ by 2030.
The Dual Certified project (Gold Standard and UNFCCC CDM) has
Malawi Government Letter of Authorisation under Article 6 - Malawi
support this Auction. “We want the carbon market to boost the
country’s economy, create jobs and real benefits in our towns and
villages and so we look forward to a successful auction and hope
this can be the first of many,” says Malawi’s Vice President and
Minister of Natural Resources and Climate Change, Honourable
Michael Usi.
Over 550,000 households benefit from this High Quality Gold
Standard project which disseminates the “Chitetezo Mbaula” cleaner
cook stove, designed, developed and produced in Malawi: tackling 7
Sustainable Development Goals (SDGs). The Stove reduces 46% in-home
particles and carbon monoxide by 44%, and decreases firewood
consumption by 40%, combating deforestation. By lowering emissions
by 2 tCO2e annually per family – Carbon Credits can finance the
project.
Final bid credits can be immediately transferred to any
GS Registry account or held under escrow by CTX for future resale
or cancellation – Voluntary or Nations or CORSIA.
“Finding High Quality ITMOs since we launched the Auction
concept at COP28, has been like digging for gold,” says CTX CEO,
Wayne Sharpe. “We found the richest vein we could hope for, in our
long-standing partners, Gold Standard, and a well-established CTX
client. Putting funds into Cookstoves in Malawi ticks every box we
ever created CTX for in the first place.”
Gold Standard CEO, Margaret Kim added, “Projects like this one,
funded by the purchase of carbon credits, make a real difference to
the planet and to people’s health and livelihoods.”
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Wayne Sharpe auctions@ctxglobal.com +44 20 3598 5890