Another organization has been tapped to address concerns about the legitimacy of carbon credits to be traded in global markets.
APX, Inc. has been selected to develop and manage a greenhouse gas emissions offset registry for the Switzerland-based Gold Standard Foundation.
APX technology is currently in use in numerous renewable energy markets in North America, including the PJM (GATS), ISO New England (NEPOOL GIS), WECC (WREGIS), MISO (M-RETS) and ERCOT (Texas REC) markets. Users of these systems include environmental commodity brokers, marketers, generators, and load serving entities.
The Gold Standard Foundation provides a quality label and sets international standards for offset credits and related transactions in the worldwide voluntary carbon market. Set up in 2003 by the World Wildlife Fund, SouthSouthNorth, and Helio International, the organization has the endorsement of more than 49 environmental NGO’s around the world.
According to the Gold Standard Foundation, APX will guarantee the transparency, quality, reliability, and security of carbon greenhouse gas emission offsets to meet exacting standards.
John Melby, President and CEO of APX, said, “This important assignment underscores the rapid global growth of the emissions offset marketplace requiring the high-quality, reliable, and transparent data infrastructure we provide to support voluntary markets and ‘cap-and-trade’ transactions.”
Once in place, the Gold Standard Registry provided by APX will offer stakeholders web-based software that creates, tracks, and enables trading of Gold Standard Verification Emission Reduction (VER) credits. Each reduced metric ton of carbon dioxide equivalent will be recorded and serialized by APX against an emissions baseline and then tracked as VER credits in participant accounts.
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