Renewable Energy Hub today announced the launch of its CORE Markets carbon and clean energy workbench, alongside the completion of a landmark Australian Carbon Credit Unit (ACCU) transaction.
The development of CORE Markets draws on 20 years’ experience as Asia Pacific’s leading carbon and clean energy commodity desk.
It is the outcome of extensive market engagement and consultation to develop products designed to increase participation and drive liquidity in carbon and clean energy markets.
Partially funded by the Australian Renewable Energy Agency (ARENA) and the first platform of its kind, CORE Markets is an OTC platform combining physical and financial market data with powerful analytics to facilitate price discovery, evaluate trading and project options and minimise transaction costs.
“As activity in the carbon market increases, the need for market data, greater transparency and suitable access becomes even more important. CORE Markets brings a mission-critical resource to new entrants and incumbents,” said Chris Halliwell, Co-Founder and Head of Markets at Renewable Energy Hub.
CORE Markets provides access to spot and forward contracts in carbon and electricity markets across a new suite of clean energy products developed by Renewable Energy Hub, and a full complement of carbon credits and environmental market certificates – creating a key tool for wholesale market proponents, project developers and end-users.
The data and insights on price, co-benefits visibility and benchmarking is supported by Renewable Energy Hub’s market-leading advisory and transactions team.
Alongside the release of the CORE Markets workbench, Renewable Energy Hub reports the execution of the first ACCU ‘Put option’ carbon transaction in 100k units – signalling a new level of sophistication and dimension to the ACCU market.
The ‘Put option’ affords the buyer downside protection via the right (but not the obligation) to sell ACCUs in early 2023 at a set price, with the option buyer paying an up-front premium to the seller for the contract.
The completion of this option transaction on ACCUs demonstrates the velocity at which the ACCU market, along with other carbon markets are developing.
Mr Halliwell said the CORE Markets Workbench brings structure and solutions at a time of dramatic transition.
“Consumer demand for net-zero imperatives has set business and investors on the march to decarbonise and the CORE Markets platform is an essential tool to understand and access the market,” he said.