GCC-Catalyzing Climate Actions & Contributions to Sustainable Development

GCC is dedicated to a vision of the carbon market that promotes ambitious efforts to mitigate climate change while supporting sustainable development.

We have developed a program that applies stringent standards, rules, and procedures. These measures ensure that only projects of the highest quality are registered. GCC-registered projects achieve additional greenhouse gas emission reductions and/or removals while making significant contributions to sustainable development.

The output of registered projects is measured, reported, verified, and certified, granting them eligibility to participate in the global carbon market. We enforce multiple safeguards to ensure that the certified output of GCC-registered projects meets all   requirements of environmental integrity.

Additionally, we have also developed an advanced system of additional labels to carbon credits that allows for adding value to projects that provide greater benefits for sustainable development.

Our Carbon Registry service is available to facilitate the flow of carbon finance to the GCC-registered project owners.

Furthermore, we are dedicated to developing new methodologies aimed at promoting sustainable development-friendly technologies mainly in the Global South by making them available to projects targeting the carbon market.

S&P Global Meta Registry

GCC is connected to S&P Global Meta Registry to avoid the risk of double-counting and double-claiming, to allow for peer-to-peer interaction (no middlemen) and monitoring of Host Country Attestation as well as tracking of Internationally Transferred Mitigation Outcomes (ITMOs) and Corresponding Adjustments.

Exchanges

Numerous regional exchanges facilitate carbon trading. The largest platforms for spot trading of voluntary carbon credits include:

  • AirCarbon Exchange (ACX) is a digital exchange platform for airlines to trade carbon credits.
  • Carbon Trade eXchange (CTX) serves as  a digital exchange for carbon offsetting, offering spot prices and facilitating voluntary carbon credit trading.
  • Xpansiv CBL empowers clients to trade a diverse array of carbon offset projects sourced from major registries worldwide.

And in the Middle East & North Africa Region:
The Egyptian Exchange provides  a platform for trading stocks, bonds, structures products, and financial securities.

Notably, the GCC signed Memoranda of Understanding with Xpansiv CBL and the Egyptian Exchange reaffirming its commitment to collaboration and progress in the realm of carbon trading.

World Bank’s Climate Warehouse

The Climate Warehouse program prototypes, tests, and develops digital infrastructure to enhance transparency, trust, and integrity within carbon markets. The GCC Carbon Registry is integrated into a metadata platform known as the Climate Action Data (CAD) Trust. This integration serves to connect and aggregate registry information, thereby boosting the credibility of the voluntary carbon market. Its purpose is to prevent issues such as double accounting, double issuance, and double claiming of mitigation outcomes in the global context.

Project Supporter

Project Supporter, whether an individual or organization, provides financial or practical assistance to Project Owners throughout different phases of project development and/or implementation. This support may encompass activities related to capacity building.
The contractual agreement established between the Project Supporter and the Project Owner may include the transfer of carbon credits or other benefits of various nature originating from the project.
Project Supporters may either be final users of ACCs or intermediate entities such as carbon-credit traders or interested international capital, including philanthropies, sovereign wealth funds, and private-sector profit and no-profit financial institutions.
Project Supporters have the potential to contribute to the promotion of sustainable development within their respective countries or regions. This contribution is achieved through the support of projects that offer distinct environmental and social benefits tailored to their geographical areas.

International Non-Government Organizations (INGOs) / Multilateral Organizations

International Non-Government Organizations (INGOs) / Multilateral Organizations play a pivotal role as an important part of the stakeholders’ community. The following organizations are particularly active on matters related to carbon market:

Participants in Public/Global Stakeholder Consultation

Stakeholders, referred to as the general public, encompass both experts and laypeople, project participants and anyone directly or indirectly affected by the project.

Stakeholders may provide their input on projects submitted to or registered under the GCC at any time. In particular, they are publicly invited to provide their input at local and global stakeholder consultations. The input collected from stakeholders during these consultations is publicly displayed on the GCC website. For the Global Stakeholder Consultation page, please click here.

Stakeholders are welcome to offer their input on all features of projects and methodologies, including, but not limited to, matters related technical, social, environmental, economic, regulatory, policy as well as environmental, social, and sustainable development aspects of a project.

Public comments hold significance in the verification process. GCC Verifiers consider these comments during the project verification. Moreover, the GCC Operations Team, the GCC Steering Committee and the GCC Regulatory Committee take these inputs into account when making final  decision on projects or methodologies.

To contribute your comments, please direct them to the Global Carbon Council via email: operations@globalcarboncouncil.com.

For Stakeholders