Climex to host TNT's second VER auction
London, 1 November (Argus) — International express and mail delivery service company TNT intends to purchase 23,000 CO2 equivalent (CO2e) of Gold Standard verified emission reduction (VER) credits through Netherlands-based carbon exchange Climex on 25 November.
TNT hopes to buy the VERs through a reverse auction for customer-related offsetting purposes. A reverse auction allows the buyer to structure the purchase and define its requirements. The auction will begin at 14:00 CET. The format will be an open order book descending clock auction, with all anonymous offers visible. The auction will begin with a maximum price of €8/t CO2e.
Potential sellers will have until 18 November to register their interest in the auction. Each seller will have to expand upon the project details from which the VERs originate. Maximum limits on VERs from wind and biomass projects will apply, Climex managing director Sascha Bloemhoff told Argus. Further details will only be available on the fact sheet that is disclosed once potential sellers express their interest, she added.
Dutch postal company TNT's first VER purchase through Climex was for 13,800t CO2e of Gold Standard VERs on 5 November last year, which sold for €7/t CO2e each.
Climex is expected to host three EU emissions trading scheme (ETS) allowance auctions in the coming weeks. On 8 November, 200,000t CO2e of allowances will be auctioned on behalf of the Austrian government, with 2mn t CO2e of allowances to be auctioned on behalf of the Dutch government on 18 November.
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