Türkiye’s Energy Exchange Istanbul (EPIAŞ) introduced on Tuesday a partnership with Verra, the world’s largest carbon credit score company, to allow inventory exchange-based buying and selling of permitted carbon credit for the primary time.
The chief govt officers of EPIAŞ and Verra met on the sidelines of Climate Week NYC to signal a memorandum of understanding (MoU), EPIAŞ stated in a press release.
Within the scope of the MoU, Verra-certified carbon credit, which signify verified reductions in greenhouse fuel emissions, will probably be purchased and bought on the EPIAŞ platform.
By facilitating the change of those credit, each consumers and sellers will profit from a regulated, environment friendly and clear market, the assertion added.
In addition to exchange-based voluntary carbon credit score buying and selling by way of its platform, EPIAŞ may also use the partnership with Verra to arrange workshops to extend consciousness amongst potential market gamers.
The exchange-based voluntary carbon credit score buying and selling is predicted to start within the coming weeks, the assertion added.
With this settlement, EPIAŞ CEO Taha Meli Arvas stated they purpose to supply the world’s first exchange-based buying and selling of voluntary carbon credit.
“This will mean a central counterparty that is connected to registries, that verifies the existence of the credits and seamlessly allows for their trade,” Arvas added.
“This step will increase the product diversity of our environmental markets, allowing our market participants access to Verra credits,” he stated.
The partnership will assist the U.S.-based registry to increase entry to carbon credit globally, Mandy Rambharos, Verra’s CEO, stated.
“By integrating Verra-certified credits into EPIAŞ’s established platform, we are aiming to enhance the credibility and transparency of Türkiye’s voluntary carbon market and, through the educational workshops, foster greater participation and understanding through targeted educational initiatives,” Rambharos added.
“We look forward to seeing the positive impact this collaboration will have on both the market and broader climate action efforts in Türkiye,” she stated.
Source: www.dailysabah.com