How Carbon Trade Exchange is transforming global environmental commodity markets

Carbon Trade Exchange (CTX) was founded in London in 2009 and now operates spot exchanges in multiple global environmental commodity markets, including carbon, renewable energy certificates and water.

Winner in the 2degrees Champions Awards 2015

The background

Mr Wayne Sharpe, Chairman and Founder of Carbon Trade Exchange (CTX), started studying the issue of climate change in the late 1990’s and became increasingly concerned about lack of action to deal with it. After identifying a gap in communication and transaction capability between the business and environmental sectors, Wayne became committed to educating business on the benefits of offsetting and fighting climate change by providing a global mechanism to finance environmental projects. For the past 15 years Wayne has devoted himself to bridging the nexus between financial markets and the environment, creating marketplaces and platforms that make it simple, secure and transparent for finance to achieve environmental outcomes.

What did we do

After two years of extensive research and development, Carbon Trade Exchange (CTX) was founded in London in 2009 and now operates spot exchanges in multiple global environmental commodity markets, including carbon, renewable energy certificates and water. Wayne designed the technology and infrastructure and led the development of the innovative platform, based on Microsoft Azure cloud technology, which included interfaces with multiple registries and banks, including Westpac in Australia. CTX was designed, developed and exists for the support of carbon pricing and is the only global exchange for all major international voluntary carbon standards, including The Gold Standard, Verified Carbon Standard, Climate Action Reserve and American Carbon Registry. CTX provides a secure, trusted and transparent electronic marketplace for buying and selling carbon offsets and ensures businesses can access offsets with confidence in the quality and origin of the offsets being sold.

The result

The CTX Exchange provides technology platforms and infrastructure for carbon markets to operate efficiently and effectively, both compliance and voluntary. The robust, scalable and commercialised technology requires minimal capital expenditure to expand into any international market and additional environmental commodities. The CTX Voluntary Carbon Market has members in over 25 countries, enabling businesses to access hundreds of carbon projects globally, searchable by price, standard, location, vintage and type. It provides an opportunity for businesses to effectively offset their emissions through the purchase of carbon credits, which represents the removal of one tonne of carbon dioxide equivalent from the atmosphere. This investment goes back into financing emissions reduction projects such as renewable energy, forestation, energy efficiency measures and methane capture activities among others.

The personal pitch

Wayne is a pioneer in the digital age, utilising the Internet’s global reach to link people with products through electronic exchange platforms. Before the creation of eBay, Alibaba, Airbnb or Wayne designed and built a global business based on the premise that the Internet can unlock unrealised economic value and create new markets. He founded the listed company Bartercard Ltd, now the world’s largest non-cash marketplace where members exchange goods and services on credit not cash via a unique alternative ‘currency’. Bartercard has operated for over 23 years and in 20 countries and has completed over US$40 billion in transactions. Now focused on the environment, Wayne’s leadership and commitment is critical to solving the problem of climate change at ground level and to discover how new opportunities, policies and technologies will drive a low-carbon future.

Suppliers, contractors and solutions providers used

Our key strategic partners to operate the exchange include APX, Verified Carbon Standard, The Gold Standard, Climate Action Reserve and American Carbon Registry.

Links to relevant supporting materials

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This article forms Carbon Trade Exchange's submission into the Energy Management Solution category of the 2degrees Champions Awards 2015. It was written and submitted by Nicole Favretto, marketing manager at Carbon Trade Exchange.