New umbrella CO₂ offset contract launched

The GER contract has been designed to tackle some of the problems with existing voluntary carbon markets

A new voluntary carbon offset contract launched last week was priced at $7.23-7.70/t CO₂e on its first day of trading. The Global Emissions Reduction (GER) contract was devised by Net Zero Markets, and the risk management firm hopes it will become the global reference price for voluntary carbon market offsets. The GER has been designed to tackle some of the problems with existing voluntary carbon markets—which include a variety of different standards and prices—according to Louis Redshaw, CEO of Net Zero Markets. “The consequence of all these moving parts is that different carbon credits, from different countries, with different standards, of a different age, all have different prices,” he s