How We Grow Trees

Global Carbon Exchange

Global Carbon Exchange (GCX) is a commercial enterprise reselling carbon offset credits supplied exclusively by the government operated NSW Greenhouse Gas Abatement Scheme. The company runs various projects catered towards greenhouse gas (GHG) emission reduction and aims to lead the field with an increasingly greater pipeline of projects planned for the future. GCX endeavours to directly address the threat of global warming and climate change, supporting the development of projects that reduce and eliminate GHG emissions caused by anthropogenic activity. The company asserts that their projects combine innovation with the implementation of cutting edge solutions.

NSW Greenhouse Gas Abatement Scheme

The NSW Greenhouse Gas Abatement Scheme (GGAS) is a government initiative that commenced on 1 January 2003. It is one of the first mandatory greenhouse gas (GHG) emissions trading schemes in the world. The GGAS’s central aim is to reduce GHG emissions associated with production and use of electricity by using project-based activities to offset production of GHG emissions. The scheme sets annual state-wide GHG reduction targets, implementing benchmarks for electricity retailers, and certain parties who buy and sell electricity in NSW, based on the size of their share of the electricity market. For the relevant parties involved, known as benchmark participants, failing to reach targets incurs a penalty.

Activity is monitored by the Independent Pricing and Regulatory Tribunal of NSW (IPART), acting as Compliance Regulator. IPART, also currently acting as Scheme Administrator, assesses abatement projects, accredits parties to undertake eligible projects and create certificates, and monitors compliance with GGAS. The Scheme Administrator also manages the Greenhouse Registry, which records the registration and transfer of certificates created from abatement projects.