Asia Carbon Exchange (ACX), the world’s first CDM-focused exchange announced its first independent auction in August 2006. The auction of Certified Emissions Reductions (CER) was collectively offered from Brazil, Sri Lanka and Viet Nam. The Vietnamese project, a hydro-power plant will be commissioned in late 2008 and will fully begin to generate CERs from 2009.The auctions helps establish a price for offsets. The Chief Operating Officer of the Asia Carbon Group believes the platform demonstrates the need for a trading system that allows for price discovery and transparency for the carbon markets to fully appreciate and mature in accordance with the key objectives of the Kyoto Protocol. This is especially relevant for the CER markets, which had evolved without a basis for price but used the EU allowance spot and futures markets.
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