In a transformative collaboration, the Global Carbon Council (GCC) and Global Environmental Markets Ltd. (GEM) have successfully acquired the Global Carbon Registry® (GCR). This strategic move positions GCC to efficiently manage carbon credits, simplifying issuance, transfer, and retirement processes, especially focusing on the Paris Agreement’s Article 6.2 credits vital for global climate initiatives.
Close-up of young tree seedlings.
The Global Carbon Registry® (GCR) stands as an advanced system within the voluntary carbon market (VCM), streamlining Internationally Transferred Mitigation Outcomes (ITMOs) or Article 6.2 credits. This innovative platform not only benefits GCC but also serves as a tool for governments and countries to develop their own carbon registries, fostering VCM solutions.
Read more: Rising demand for nature-based solutions spurs evolution in investment landscape
Wayne Sharpe, CEO of GEM, expressed pride in the partnership, emphasising the registry's role in connecting with exchanges, auctions, and other registries, providing a comprehensive solution for robust carbon markets. The user-friendly interface, coupled with compliance with CORSIA regulations, ensures a seamless experience for users.
Simultaneously, the Gulf Organisation for Research & Development introduces the Climate Action Center of Excellence (CACE) in a separate deal. Aligned with GCC's strategy, CACE accelerates the implementation of Article 6 of the Paris Agreement, aiming to mobilise climate finance efficiently and support emission reduction activities.
Read more: The role of carbon credits in business: benefits, challenges, and future outlook
As the Global Carbon Council focused on key topics at COP28, including Article 6.2 implementation and carbon credit integrity, the acquisition of GCR emerges as a crucial step towards enhancing transparency, facilitating transactions, and nurturing the growth of global carbon markets—a pivotal contribution to sustainable development and nature conservation.
Carbon credits serve as a potent tool for businesses striving to fulfil their decarbonisation commitments, yet determining the optimal role for these credits hinges on the specific context and strategy of each business. The landscape of carbon credit markets presents challenges in the form of escalating demand, pursuit of quality, and heightened unit supply costs, resulting in a scarcity of and increased expenses for credits.
In light of these dynamics, it becomes imperative for businesses to proactively discern their most effective decarbonisation strategy, evaluating the potential contributions of offsets and carbon credits over time. Act now to ascertain the best positioning for your business in the evolving carbon credit market. At DGB Group, we offer support in achieving your decarbonization objectives, providing access to our high-quality, independently verified carbon credits derived from our nature-based projects. Our expertise enables your business to measure, reduce, and offset its carbon footprint effectively.
Take action for nature conservation today
