SCB Group, the low-carbon commodities broker, said it has joined the International Emissions Trading Association (IETA), the carbon trading body.
The IETA was formed with a mandate to establish a functional international framework for trading in greenhouse gas emission reductions.
With a membership including international companies from across the carbon trading cycle, the non-profit organisation says it collectively seeks to develop an emissions trading regime that results in real and verifiable greenhouse gas emission reductions, while balancing economic efficiency with environmental integrity and social equity.
“We’re very happy to have SCB become a member of IETA as we strive to deliver the Paris Agreement’s climate protection goals," said Dirk Forrister, IETA’s president and chief executive.
"In common with SCB, IETA advocates the power of markets to price carbon effectively and deliver net-zero targets. We’ll be working together to strengthen and scale-up carbon markets to finance the climate transition. We are glad to have SCB on board as your long commitment towards a low carbon future is widely recognized.”
SCB said it will share best practices on the promotion of carbon pricing systems as a valuable means of channeling increased finance to the climate transition.
"Recent market commentary heralding the accelerated growth of high-integrity voluntary carbon markets (VCM) underpins SCB’s view of the importance of scaling-up the VCM in order to help deliver a net zero future."