Carbon Trade eXchange (CTX) Launches ITMO Carbon Auction: Investors Can Now Enter Most Important Carbon Market on Earth

|

|

Last update:

LONDON & BRISBANE, Australia–(BUSINESS WIRE)–#ITMO–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.




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.”

Contacts

Wayne Sharpe

[email protected]
+44 20 3598 5890

Topics:

Follow us:

Business Wire

Business Wire, a Berkshire Hathaway company, is the global leader in press release distribution and regulatory disclosure. Public relations, investor relations, public policy and marketing professionals rely on Business Wire for secure and accurate distribution of market-moving news and multimedia. Founded in 1961, Business Wire is a trusted source for news organizations, journalists, investment professionals and regulatory authorities, delivering news directly into editorial systems and leading online news sources via its multi-patented NX network. Business Wire’s global newsrooms are available to meet the needs of communications professionals and news media worldwide.

Partner eventsMore events

Current Month

06dec5:15 pm7:00 pmLe Wagon Demo DayDiscover the students' final projects

12dec4:00 pm9:30 pmAI in ActionPractical Insights for Digital Transformation

28jan4:00 pm10:00 pmUnlocking operational efficiency with AIInsights for your future

Share to...