enmacc, Europe’s largest OTC trading platform, launches innovative offering to compensate natural gas carbon emissions and accelerate climate action
Working alongside leading suppliers in the market, enmacc is happy to share their latest innovative proposition – ‘Carbon Compensated Gas’, a new bundled offering of voluntary emission reduction (VER) certificates and natural gas. VERs are resulting from emission-reducing or avoidance projects. RWE Supply & Trading GmbH (RWEST) will be the first provider of Carbon Compensated Gas.
Today, the fast-rising demand to combine Natural Gas and VER is usually met by customized, individual contracts; there is no combined offering on wholesale markets yet. enmacc is addressing this need. Jens Hartmann, CEO of enmacc emphasizes: “While direct emissions reductions by corporations should be the priority, carbon compensation can play an important complementary role to accelerate climate action. We acknowledge VER as one important mechanism to provide incentives to decarbonize and transfer capital from polluters to projects aiming at capturing, reducing or preserving CO2. We want to be a partner to our clients from the energy industry to transform towards a more sustainable future.”
With RWEST’s Carbon offsetting competencies and the high quality worldwide green portfolio RWE is able to offer Carbon Compensated Gas on enmacc. “Many corporates already use carbon offsets to fulfill their net-zero targets as they can currently not fully and directly reach zero emissions within their own operations and value chains. We are looking forward to now offering this new product to municipalities on enmacc.”, says Dr. Hendrik Niebaum, Head of Commodity Solution, RWE Supply & Trading GmbH.
As VER attracts more attention, stakeholders are working to improve standardization, processes and supply and demand-side integrity to allow for scalability of the market.
Supporting these attempts, enmacc will focus on enabling efficient transactions and price discovery on its RFQ marketplace, entender. It aims to be simple, efficient and scalable, building on Europe’s largest digital venue for direct bilateral trading for energy commodities.
In the upcoming months, further European gas suppliers will also offer ‘Carbon Compensated Gas’ on enmacc. Further market participants are also invited to contribute to the project.