The Global Carbon Council (GCC), a Qatar-based carbon offset programme, has signed two agreements for transforming the carbon market by providing enhanced liquidity and ensuring market integrity.
The new Registry Services Agreement with S&P Global Commodity Insights (SPGCI) marks a new chapter of collaboration between the organisations, for serving the new-generation carbon market implementing GCC 2.0.
SPGCI will provide GCC with its comprehensive registry services for transacting Approved Carbon Credits (ACCs) and Renewable Electricity Certificates (ARECs) through its Environmental Registry platform.
This partnership will ensure the integrity and confidence of the carbon market by exclusively tracking the issuance, transfer, retirement, and cancellation of carbon credits through the GCC Registry.
Under the new agreement, the GCC Registry operated by S&P Global Commodity Insights will be the sole platform for tracking all activities related to carbon credits issued by GCC Projects.
GCC has also entered into a strategic tri-party agreement with SPGCI and Climate Impact X (CIX), a leading carbon market solutions provider based in Singapore.
This strategic collaboration is set to revolutionise the carbon market by providing project developers with streamlined access to global buyers and enhanced liquidity.
As GCC’s issuance of high-quality ACCs continues to grow, this integration addresses a critical market need: enabling project developers to efficiently monetise their credits while offering buyers at CIX transparent, credible, and verifiable carbon credits.
Leveraging SPGCI’s robust infrastructure, the GCC-CIX connection ensures that GCC credits transacted on this platform are seamless, secure, and fully compliant with international best practices.
Dr Yousef M Alhorr, founding chairman of GCC said: “We believe our three-party collaboration will unlock new avenues of liquidity for our project developers, creating far-reaching opportunities to scale up carbon offsetting initiatives and drive meaningful environmental impact. By joining forces with Climate Impact X and leveraging S&P Global Commodity Insight’s Environmental Registry, we are enhancing our ability to facilitate the seamless trading of high-integrity carbon credits issued by GCC.
“The agreement we signed will further expand the GCC programme, helping foster sustainable development and supporting the transition to a low-carbon economy. This partnership is a testament to the power of collaboration, and together, we are creating a robust marketplace to drive transparency, efficiency, and accountability in carbon credit transactions,” he added.
Jonty Rushforth, head of Environmental Solutions at S&P Global Commodity Insights, commented, “This marks a renewal of our longstanding partnership with Global Carbon Council, as well as a new era for carbon markets. At COP29 in Baku, we saw first signs of revitalisation. We are committed to advancing integrity and liquidity in carbon markets, and together, we will drive growth and create new opportunities for climate action in the years to come.”
Ellery Sutanto, head of exchange at Climate Impact X, added, “COP29 has reignited optimism for carbon markets. The next step is to turn these agreements into action. By connecting to a wide network of registries, CIX is building the critical infrastructure to scale market liquidity, enhance transparency and unlock financing for impactful climate solutions. Our goal is to bridge buyers and sellers, creating more opportunities to access quality credits, and driving the evolution of a more liquid and efficient carbon market.”
Dr Yousef M Alhorr with the agreements.
