Being a major platform for emissions trading in the Asia-Pacific region, the aim of the Australian Climate Exchange (ACX) is to provide the framework tools and the facilities for Australian public & private enterprise that addresses the legal, commercial and regulatory risks and opportunities associated with their greenhouse gas emissions.
ACX was officially born in December 2005 and has subsequently worked on frameworks and mechanisms to bring the suppliers and buyers of greenhouse gas (GHG) emission abatement together. In July of 2007 ACX launched the first electronic emissions trading platform (similar to the exchanges successfully trading GHG in Europe) in Australia. By listing for trade government accredited emission commodities, the ACX ensures that the abatement that is counted in the certificates traded actually represents a true reduction in the nation’s emissions.
This combined with the abatement registries for the offsets listed ensures that abatement is not double counted and that the sellers actually have the right to sell. The business rules of the ACX ensure an orderly and transparent market that no participants can manipulate or game.
ACX has received a NoCO2 certification from the Carbon Reduction Institute in October 2007.
