The Global Carbon Council International – the carbon credit and sustainable development programme – and Global Environmental Markets (GEM) have partnered to acquire a fully integrated carbon registry solution known as the Global Carbon Registry (GCR).
This registry marks a new era in reporting Article 6.2 credits known as Internationally Transferred Mitigation Outcomes (ITMOs), and further develops voluntary carbon market solutions, offering a host of features designed to streamline transactions and provide an unparalleled user experience.
With the Global Carbon Registry, governments and countries can find their home for launching their own National Carbon Registries.
This partnership offers a tailor-made package of service and technology solutions, based on Global Carbon Council’s expertise and framework, to meet the diverse needs of countries in setting up their own registry.
The Global Carbon Registry will deliver more efficient transactions, by supporting the entire spectrum of carbon market transactions, including credit issuance, transfers and retirements, enabling a seamless and efficient process for carbon market participants.
Additionally, the registry establishes seamless connections with external exchanges, enhancing accessibility and facilitating a broader market reach, and is equipped with a benchmark public interface that aligns with CORSIA requirements, to ensure regulatory compliance for market participants.
“Today, our collaboration with Global Environmental Markets Group reflects a culminating point in the acquisition of the cutting-edge Global Carbon Registry,” said Global Carbon Council founding chairman Dr Yousef Alhorr.
“It represents a significant leap forward in seamlessly integrating carbon credit certifications and insurance,” he said. “Our partnership not only revolutionizes the issuance of carbon credits but also empowers nations to shape their own registries, influencing the very structure of carbon markets.”
“Nations worldwide require a registry, and with the Global Carbon Council boasting one of the best credit standards globally, they needed a sophisticated registry they could own,” said Global Environmental Markets Group chief executive and founder Wayne Sharpe. “We've delivered just that through the Global Carbon Registry.”
“This advanced technology, coupled with enhancements for world-class credit standard delivery and electronic functionality for global credit trading, positions us as leaders in the marketplace,” he said. “This technology aims to assist nations in setting up sub-registries, providing a cost-effective solution.”
With over 118 governments pledging to triple renewable energy production by 2030, the Global Carbon Council is also utilising COP28 to advocate for the vital role that carbon markets will have to play in financing the global renewable energy transition.
Dr Alhorr and Sharp announcing the partnership.
