UNFCCC launches its online initiative to promote the voluntary cancellation of UN-backed Certified Emission Reduction (CER) carbon offsets

Today the UNFCCC launches its online initiative to promote the voluntary cancellation of UN-backed Certified Emission Reduction (CER) carbon offsets, at an event in New York to coincide with Climate Week.

Although it has been possible to voluntarily retire CERs for some time, to date the process has been poorly promoted and technical to operate, resulting in a relatively small number of CERs cancelled. As part of its work plan for 2015, the CDM Executive Board has decided to promote CER demand to individuals and organizations and to develop an online tool to enable this. The Climate Neutral Now initiative features a customer facing website, www.climateneutralnow.org which links to a service platform,www.climatecreditstore.org where the actual retirements will occur.

Actively engaging individuals, as well as businessesis a growing trend within the voluntary carbon markets. A good examplewhy is the success ofCode REDD’s Stand for Trees collaboration with the artist, Prince Ea. His climate-themed video ‘’Dear Future Generations’’ has generated over 80 million viewsand thousands of new, discrete purchasers of carbon credits. A co-benefit of engaging with individuals is the collective pressure they bring to bear on the CSR and ESG policies of the businesses and governments they interact with.

In order to sell CERs on the platform, the Seller must have issued CERs in their CDM registry account. Sales of CERs from national registry accounts or transfers of CERs back from national to CDM registry accounts are not permitted.

Buyers can browse available CERs using a range of filters to make their selection. Payment is via credit card and PayPal with the UNFCCC taking no brokerage fees. Those retiring credits via the platform will receive a certificate, use of the logo and a brief listing of the retirement on the site.

Intermediaries without CDM registry accounts can still work with Buyers (and Sellers) by measuring their client’s carbon footprint, developing a reduction strategy; helping select the CERs that best suit the client and then writing the retirement listing. Sellers can be helped to promote their CERs and drive interest to their offered CERs on the platform or off it via other sales channels.

ALLCOT is an experienced CER and VER project developer and carbon credit trader. If you want to know how we can help you to sell your CERs or if would like to purchase CERs, please contact Grattan MacGiffin, grattan@allcot.com.

 

 

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