What we do
The rationale of the Climate Warehouse is to make it easy for clients to permanently retire an emission offset. An offset may be a recognized emissions trading instrument (e.g. European Allowances or Certified Emissions Reductions) or an appropriately certified Verified Emission Reduction (VER). Clients pay for the offsets to be retired and are provided with appropriate documentation attesting to this. All offsets held by the Climate Warehouse are either issued by a governmental agency or managed in accordance with a recognised voluntary market based verification standard. In addition, the Climate Warehouse’s operations are audited by an independent third party.
Key elements of the delivery mechanism are:
- types of emission reductions will be selected in accordance with customer demand;
- simplification of the contracting process, to help avoid the need for the retail and reseller client to take ownership of the emission reduction and to reduce transaction costs;
- baseline and production verification by independent specialists;
- a delivery assurance in the form of a warranty; and
- retirement to a trusted repository.
The Climate Warehouse actively creates supplies of offsets by providing sellers of VERs with a robust forward contract. This unique initiative helps developers to raise finance and build their projects using the forward contract as security. VER suppliers are often small and without high credit ratings and they find it hard to raise financing. By providing long-term purchase contracts, the Climate Warehouse enables small project developers to build sustainable projects and ensure an ongoing supply of robust VERs to the Climate Warehouse and its clients.