Corporate organisations are increasingly investing in carbon offsetting initiatives in order to meet sustainability and corporate responsibility targets, announces a new report published today entitled ‘State of the Voluntary Carbon Markets 2012’. The global report, launched by Ecosystem Marketplace and Bloomberg New Energy Finance at the Carbon Expo show in Cologne, reveals that corporate buyers represent 65% of the total value of the voluntary carbon market, with the majority of those buyers based in Europe. Interest in carbon-funded projects with multiple positive outcomes is growing, with the biggest majority from Gold Standard projects in Africa.
“Buyers of credits are increasingly interested in the additional health and socio-economic benefits generated via many of our sustainable development projects,” explains Edward Hanrahan, Director, ClimateCare. “Corporate organisations are interested in supporting for instance the reduced incidence of pneumonia through cookstoves projects in Africa, or the purification of water and prevention of waterborne disease through the award-winning LifeStraw water filter.”
As corporate organisations strive to find new and innovative means to meet clearly defined sustainability goals, offsetting carbon emissions via charismatic development projects is consistently being adopted as a means to green supply chains, connect with customers and engage shareholders and employees. Among the most popular carbon-funded development initiatives in Africa are clean cookstove projects, which help to improve health by reducing indoor air pollution, while slowing deforestation and creating employment among development communities.
The voluntary carbon market was worth $576m in 2011, which is the second highest market value documented following 2008’s record high. This latest report examines trading volumes, credit prices, project types, locations and the motivations of buyers voluntarily purchasing carbon offsets. Its findings are based on data voluntarily reported by 312 offset suppliers, including ClimateCare, seven trading exchanges and all major carbon credit registries.
Among the other 2011 trends documented by the report are an increase in the purchase of carbon credits by North American buyers and strong support for carbon-funded wind farms in Asia. Please visit this link [http://www.ecosystemmarketplace.com/reports/vcm2012] for further information or to download the full report.
ClimateCare continues to strengthen its team of carbon market specialists with the appointment of carbon trading expert and respected market commentator Grattan MacGiffin. With an all-of-market sourcing capability and excellent knowledge of carbon market dynamics, MacGiffin will draw on his robust trading experience in both the voluntary and compliance markets to help provide ClimateCare’s clients with rapid access to the world’s highest quality carbon-funded projects, delivering maximum value for money and providing intelligent market insights.
“We understand the value of experience in a fast-moving market and we are delighted to augment our highly skilled team with Grattan’s extensive experience in this field,” comments Edward Hanrahan, Director, ClimateCare. “Grattan is renowned for his intimate knowledge of the carbon markets. His strong trading and brokerage experience together with his deep understanding of project-based carbon credit transactions will enhance our operational efficiency and ensure that we provide an increasingly comprehensive service to clients across the voluntary and compliance markets.”
One of the most experienced carbon market professionals in Europe, MacGiffin began his career in carbon finance at Man Financial, where he ran the Carbon desk. He has liaised with international standards, registries and governments to advocate and facilitate the role of the carbon markets. MacGiffin has previously held the position of Co-Chair of the CMIA Voluntary Markets Working Group, and has a proven history of communicating effectively with a wide range of stakeholders, from investment bankers to senior figures within non-governmental organisations.
“ClimateCare is exceedingly well known in the marketplace for its knowledge of the voluntary carbon market and the compliance market within the Sub-Saharan Africa and LDC climate and development space,” comments MacGiffin. “I’m thrilled to join such an experienced team and look forward to broadening our wholesale and compliance market offering while optimising the service we offer to our diverse client base.”
MacGiffin’s appointment follows weeks after the appointment of senior team member Rhiannon Szmigielski, who joins from recycling and resource efficiency specialist WRAP as Marketing Director.