European Union Emissions Trading Scheme (EU ETS)

In January 2005 the European Union Greenhouse Gas Emission Trading Scheme (EU ETS) commenced operation as the largest multi-country, multi-sector Greenhouse Gas emission trading scheme world-wide.The scheme is based on Directive 2003/87/EC, which entered into force on 25 October 2003.

Allowances traded in the EU ETS will not be printed but held in accounts in electronic registries set up by Member States. All of these registries will be overseen by a Central Administrator at EU level.

http://europa.eu.int/comm/environment/climat/emission.htm

Greenhouse Gas-Credit Aggregation Pool (GG-CAP)

GG-CAP is initiated by Natsource Group and is a carbon pool. Natsource Japan solicits Japanese entities for this GG-CAP which is run by its affiliate company Natsource Asset Management Corp. GG-CAP enables its participants to comply with domestic, international and voluntary greenhouse gas emissions reduction requirements by purchasing low-cost compliance instruments from a diverse portfolio of project-based emissions reductions.

GG-CAP will initially procure 15 to 30 contracts totaling 30 to 50 million tons of greenhouse gas emissions reductions for delivery in the 2004-2012 period.

http://www.natsourcejapan.com/english/works/greenhouse/ggcap.html

ICEcap Ltd.

ICECAP is a private sector provider of emissions credits from developing world CDM & JI projects in the emissions trading markets. In March 2004, the ICECAP Carbon Portfolio was launched, one of the world’s first private sector carbon hedging vehicles. This reached first closing on 17th January 2006 with aggregate commitments of 15 million tonnes. In addition, ICECAP has developed a track record in Certified Emissions Reduction transactions through its trading business.
http://www.icecapltd.com/index.asp

International Emissions Trading Association

The International Emissions Trading Association (IETA) is a membership organization dedicated to the establishment of effective market-based trading systems for greenhouse gas emissions by businesses that are demonstrably fair, open, efficient, accountable and consistent across national boundaries. To achieve its goals, IETA focuses on the following areas:

1.       Developing components of the GHG market and trading systems

2.       Promoting market mechanisms and participation in GHG markets

3.       Developing a global GHG market  

4.       Capacity building

http://www.ieta.org/ieta/www/pages/index.php

International Finance Corporation (IFC)

IFC has established Carbon Finance Facilities. The Facilities are arrangements under which IFC will purchase carbon credits for the benefit of the Government of the Netherlands under the international emission reduction transfer rules of the Kyoto Protocol. IFC presently has about $100 million under management in two facilities to purchase credits: (i) the IFC-Netherlands Carbon Facility (INCaF) operating under the rules of the Clean Development Mechanism (CDM); and (ii) the Netherlands European Carbon Facility (NECaF) operating under the rules of the Joint Implementation (JI) mechanism and managed jointly with IBRD. Payments for carbon credits purchased will be made to eligible projects in emerging markets and will provide them with additional revenue. The Government of the Netherlands will use the purchased credits to meet its GHG reduction obligations under the Kyoto Protocol. The credits will be purchased and paid for regardless of whether or not the Kyoto Protocol is in force.

http://www.ifc.org/ifcext/enviro.nsf/AttachmentsByTitle/p_2005SustReport_15/$FILE/ClimateChange.pdf

Kyoto Protocol

The Kyoto Protocol established in 1997, significantly strengthens the United Nations Convention on Climate Change by committing Annex I Parties to individual, legally-binding targets to limit or reduce their greenhouse gas emissions. 163 countries have ratified the Protocol to date (as of April 2006). Of these, 35 countries and the EEC are required to reduce greenhouse gas emissions below levels specified for each of them in the treaty. The individual targets for Annex I Parties are listed in the Kyoto Protocol’s Annex B. These add up to a total cut in greenhouse-gas emissions of at least 5% from 1990 levels in the commitment period 2008-2012.

The protocol provides mechanisms based on emissions trading to assist participating countries in meeting their reduction targets http://unfccc.int/kyoto_mechanisms/items/2998.php. The Kyoto mechanisms are:

Joint Implementation (JI)

JI provides for Annex I Parties to implement projects that reduce emissions, or remove carbon from the atmosphere, in other Annex I Parties, in return for emission reduction units (Eros).

http://ji.unfccc.int

Clean Development Mechanism (CDM)

CDM provides for Annex I Parties to implement projects that reduce emissions in non-Annex I Parties, or absorb carbon through afforestation or reforestation activities, in return for certified emission reductions (CERs, tCERs and lCERs) and assist the host Parties in achieving sustainable development and contributing to the ultimate objective of the Convention. The CDM is supervised by the CDM Executive Board.

http://cdm.unfccc.int

Emissions trading, provides for Annex I Parties to acquire units from other Annex I Parties. These units may be in the form of AAUs, RMUs, ERUs, and CERs.

Renewable Energy Certificate System (RECS)

RECS stand for Renewable Energy Certificate Systems and are considered as an international trading system in Europe (EU25) for renewable energy certificates. The system is initiated and coordinated by the RECS International Association in cooperation with the Association of Issuing Body (AIB). Every participating country has appointed an independent national issuing body to operate the system. This national issuing body should be a member of the AIB so certificates can be exchanged based on the same standard: the RECS. A RECS-certificate can be issued for every MWh of renewable energy as long as the trader or producer opens an account for RECS at its national issuing body. To do this, one should be a member of the RECS International association.

The RECS International Association is a non-profit European organisation registered in Brussels. Its members are all renewable energy producers, traders and suppliers in Europe that either wish to have a RECS account at their national issuing body and/or wish to influence policy on governmental and system level concerning the certificate trading. RECS International acts as the representative of market players towards national and European governmental authorities and facilitates all possible events and activities that will enhance the mission statement of RECS.

http://www.recs.org

The Union of the Electricity Industry

The Union of the Electricity Industry (EURELECTRIC) has undertaken a series of trading simulations called Greenhouse Gas and Energy Trading Simulations: GETS 1, GETS 2, GETS 3 and GETS 3bis, in order to learn more and demonstrate the usefulness of this "flexible mechanism" provided for in the Kyoto Protocol. Meanwhile, GETS 4 has been launched and is designed to assess the impacts of world-wide emissions trading and to test scenarios for the post-Kyoto period.

http://www.eurelectric.org

United Nations Development Programme - Millennium Development Goals (MDG) Carbon Facility

To capitalize on the potentially significant benefits of carbon finance for the developing world, UNDP is establishing the MDG Carbon Facility, a carbon-finance mechanism featuring emission offsets derived from a pool of projects designed to contribute directly to achieving the MDGs. UNDP will mobilize carbon finance and direct this towards developing a portfolio of projects that yield tangible sustainable development and poverty reduction benefits across a diverse group of developing countries.

http://www.undp.org/mdgcarbonfacility/docs/BookletMDGCarbonFacility.pdf

World Bank Carbon Finance Unit

The World Bank Carbon Finance Unit (CFU) uses money contributed by governments and companies in OECD countries to purchase project-based greenhouse gas emission reductions in developing countries and countries with economies in transition. The emission reductions are purchased through one of the CFU's carbon funds on behalf of the contributor, and within the framework of the Kyoto Protocol's Clean Development Mechanism (CDM) or Joint Implementation (JI).

CFU contracts to purchase emission reductions similar to a commercial transaction, paying for them annually or periodically once they have been verified by a third party auditor. The selling of emission reductions - or carbon finance - has been shown to increase the bankability of projects, by adding an additional revenue stream in hard currency, which reduces the risks of commercial lending or grant finance. Thus, carbon finance provides a means of leveraging new private and public investment into projects that reduce greenhouse gas emissions, thereby mitigating climate change while contributing to sustainable development.

http://carbonfinance.org/Router.cfm?Page=Home&ItemID=24675

World Bank - List of Carbon Funds: (as at 1 3 2006)

1.       Prototype Carbon Fund

2.       BioCarbon Fund

3.       Community Development Carbon Fund

4.       Italian Carbon Fund

5.       The Netherlands CDM Facility

6.       The Netherlands European Carbon Facility

7.       Danish Carbon Fund

8.       Spanish Carbon Fund

9.       Umbrella Carbon Facility

http://carbonfinance.org/Router.cfm?Page=Funds&ItemID=24670

IDBI

Besides offering various banking services, IDBI has also set up a dedicated Carbon Credit desk, which provides all the services in the area of Clean Development Mechanism/Carbon Credit (CDM). In order to achieve this objective, IDBI has entered into formal arrangements with multi-lateral agencies and buyers of carbon credits like IFC, Washington, KfW, Germany and Sumitomo Corporation, Japan and reputed domestic technical experts like MITCON. Our primary objective is to protect long-term interests of our clients and suggest various risk mitigation measures.

http://www.idbibank.com/idbi/idbi_cdm_carbon_credits.asp

Companies

SGS                                                                                                                 UK

The SGS Climate Change Programme offers a range of services addressing the growing need for mandatory and voluntary reporting of greenhouse gas emissions. The objectives of the programme are to facilitate trade in greenhouse gas (GHG) emissions and promote the harmonization of markets through the application of standardized verification procedures. Our services can help you whether you are captured in the EU Emission Trading Scheme (ETS), have a Joint Implementation (JI) or Clean Development Mechanism (CDM) project or simply want to report into one of the growing number of voluntary or state-based initiatives.

http://www.climatechange.sgs.com/

Ecosecurities                                                                                                    India

EcoSecurities is a leading company in the business of sourcing, developing and trading emission reduction credits.

EcoSecurities structures and guides greenhouse gas emission reduction projects from beginning to end, working with both project developers and buyers of emission reduction credits. EcoSecurities works with companies in developing and industrialising countries to create emission reduction credits from projects that reduce emissions of greenhouse gases. EcoSecurities has experience with projects in a wide range of sectors, including renewable energy, agriculture and urban waste management, industrial efficiency, and forestry.

http://www.ecosecurities.com/Home/EcoSecurities__the_carbon_market/Who_we_are/default.aspx

3C Group

1.       3C Carbon Investment Advisory

3C offers state-of-the-art risk management systems and consulting services for Carbon Fund Managers and Installation Operators, based on an in-depth financial analysis of the domestic and international effects of emissions trading.

http://www.3c-company.com/en/carbon-advisory.html

2.       3C Markets

3C Markets offers customized services based on our comprehensive market and trading know-how and on our expertise in management consulting. Our range of services guarantees the annual fulfilment of your emissions reduction targets in a cost-effective way.

http://www.3c-company.com/en/3c-markets.html

3.       3C Clean Development Mechanism / Joint Implementation

The Kyoto Protocol's project-based mechanisms are compliance instruments also under the EU Emissions Trading Directive. 3C offers extensive services regarding the development, implementation, and marketing of CDM/JI-projects.

http://www.3c-company.com/en/cdm-ji.html

4.       3C Climate Neutral

3C develops and implements climate neutral events, products and services. With our support, your company contributes to climate protection and receives a competitive advantage.

http://www.3c-company.com/en/climate-neutral.html

http://www.3c-company.com/en/

Agrinergy                                                                                                          UK (MNC)

Agrinergy is a leading provider of carbon credit services with a focus on the Clean Development Mechanism (CDM), one of the three flexibility mechanisms outlined in the Kyoto Protocol.

Agrinergy provides companies in industrializing countries with an end-to-end solution for the development and implementation of CDM projects, and assists companies and governments in the industrialized world to meet their Kyoto emissions targets.

Being one of the first players in this market, Agrinergy has a successful track record in registering and transacting CDM projects. The company has developed successful methodology submissions, registered the first bagasse CDM project and now has a diversified portfolio of established projects.

Agrinergy recognizes the importance of sustainable development in the CDM context and many of the projects developed have demonstrated developmental aspects that go beyond the pure reduction in emissions. Agrinergy is well positioned to be at the forefront of developments in the carbon market.

http://www.agrinergy.com/

EMIT Environmental Brokers

EMIT Environmental Brokers is a leading carbon origination and transaction services company specializing in the Kyoto linked markets of the Clean Development Mechanism (CDM) and Joint Implementation (JI).

http://www.emit-markets.com/component/option,com_frontpage/Itemid,64/

Aretae

Aretae is an environmental solutions company that focuses on climate change initiatives that can help to combat global warming. Aretae offers fully integrated services to identify, develop and also finance projects that can reduce greenhouse gas emissions the while supporting sustainable development through recycling of waste into value added by-products.

Aretae is not only a Project Developer for CDM/JI or Clean Development Mechanism and Joint Implementation Projects, that generates Carbon Emissions Reduction, Aretae also provides the full Carbon Asset Management services that consolidates, markets and trades on Carbon Credits.

http://www.aretae.com/home/index.html

Cemtrex                                                                                                            USA

Cemtrex is involved in projects to create Carbon credits worldwide and provide a comprehensive range of services related to the Clean Development Mechanism (CDM), one of the two project-based flexible mechanisms of the Kyoto Protocol.  Cemtrex assists project owners in buying and selling carbon credits globally.

Cemtrex is a publicly traded (OTC: CTEX) leading technology company providing turnkey services for CDM & JI projects for the reduction of carbon dioxide and other greenhouse gases. Cemtrex provides investment equity into CDM projects and arranges for the sales of carbon credits (CERs) for its customers.

http://www.cemtrex.com/index-1.html

Carbon Positive                                                                                      UK (MNC)

Carbon positive is a business that develops sustainable agro-forestry and bio-energy projects in non-industrialised countries.

These projects produce resources, such as timber and bio-diesel, in ways that protect the local environment and help build a sustainable local economy. They are also designed to cut greenhouse-gas emissions and generate Certified Emissions Reductions (CERs) wherever possible under the Kyoto Protocol's Clean Development Mechanism (CDM).

http://carbonpositive.net/default.aspx

Trading Emissions PLC

Trading Emissions PLC is an investment fund established to acquire tradable environmental instruments. Its initial investments will be in projects developed under the Clean Development Mechanism (CDM) and Joint Implementation (JI) of the Kyoto Protocol.

http://www.tradingemissionplc.com/index_english.htm

New Values                                                                                                       Netherlands

New Values facilitates trade in carbon emission rights by offering a user-friendly and reliable online trading platform.

As part of the Climex Alliance, New Values provides cleared pan-European EUA Spot Trading.on the Climex Spot Platform. New Values also stimulates the CDM, JI and Voluntary Markets by facilitating regular Auctions and Tenders on the Climex Auction Platform.

The Climex Auction Platform has been especially built to auction Carbon Credits, such as European Allowances (EUAs), Certified Emission Rights (CERs), Emission Reduction Units (ERUs), Secondary CERs or Voluntary Emission Rights (VERs). Both buyers and sellers can organise auctions and even investment needs can be put on the platform.

The New Values Community is a central resource for the entire industry to stay informed and share ideas on everything related to emission trading.

http://www.newvalues.net/Default.aspx?name=1.0_home

MGM International

MGM International is a project development, investment and commercialization firm whose objectives are the identification, design, negotiation, as well as execution and support of projects that contribute to reducing anthropogenic GHG emissions.

http://www.mgminter.com/

South Pole Carbon Assets Management Limited                          Brazil

South Pole Carbon Asset Management Ltd. is sourcing and developing premium greenhouse gas emission reduction projects that contribute significantly to sustainable development.
What we do:

·   Carbon Asset Development. We develop emission reduction projects together with technology partners;

·   Sourcing. We identify and contract high-quality emission reductions (CERs, ERUs and VERs) for large buyers;

·   Advisory Services. We provide distinctive advisory services on carbon markets.

We are currently developing projects in various countries, including Brasil, China, India, Indonesia, South Africa, Thailand.

http://www.southpolecarbon.com/

Eco Invest                                                                                                         Brazil

Our mission is to provide a broad range of financial services that meet the needs of environmentally conscious investors, helping them mange their money ethically and wisely.

http://www.ecoinv.com/english/

DNV

DNV has developed methodologies to secure transparent, reliable and credible audit results, and we are accredited under both the Californian Climate Action Registry and the Chicago Climate Exchange in the US, in addition to the UK Emissions Trading Scheme.

http://www.dnv.com/certification/climatechange/

Carbon Capital Market                                                                            UK

Carbon Capital Markets® is a vertically integrated player in the carbon market, and is authorised and regulated by the Financial Services Authority. As a principal carbon emissions trader, asset manager, and project developer, producing and managing carbon assets is our core business.

Our highly successful European trading desk buys and sells EU Allowances (EUAs), Certified Emission Reductions (CERs) and Emission Reduction Units (ERUs) for companies that have an allocation of CO₂ allowances under the EU ETS, and sells Kyoto compliant credits to companies that wish to voluntarily offset their carbon footprint. The trading desk also buys credits direct from projects and project developers.  Our asset management business invests private equity in Clean Development Mechanism (CDM) and Joint Implementation (JI) projects that reduce emissions. All of our investments contribute to sustainable development and improving social conditions in local communities.

http://www.carboncapitalmarkets.com/home.php

Global Carbon

Global Carbon is a leading expert on environmental consultancy and financial brokerage services in the international emissions trading market under the Kyoto Protocol. The company focuses on Joint Implementation (JI) project development in Bulgaria, Ukraine, and Russia, and the EU Emissions Trading Scheme (ETS) in Bulgaria.

http://www.global-carbon.com/en/

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