Powerledger’s blockchain technology shortlisted as solution for Australian Carbon Exchange

Press Release

Highlights:

• Powerledger shortlisted by the Australian Government’s Clean Energy Regulator (CER).
• CER aims to accelerate the establishment of an Australian Carbon Exchange.
• Powerledger has formed a consortium including The Midwest Renewable Energy Tracking System (M-RETS) and the Sydney Stock Exchange (SSX) bid for the project.

Perth, Australia – September 20, 2021: Energy trading company Powerledger has been shortlisted by the Australian Government’s Clean Energy Regulator in the next phase for the delivery of the highly anticipated Australian Carbon Exchange.

Powerledger has formed a consortium which includes The Midwest Renewable Energy Tracking System (M-RETS) and Sydney Stock Exchange (SSX) to bid for the project.

The Australian Carbon Exchange will operate in a similar way to online stock exchanges, but in the purchase, clearing and settlement of Australian carbon credit units (ACCUs) and potentially other types of carbon units and certificates.

Development of an online carbon exchange will support Australian industry by increasing market transparency including pricing, lowering transaction costs and reducing red tape.

It will also accelerate emissions reduction and provide a boost to Australia’s economy.

The exchange will make the trading of ACCUs simpler, supporting rapidly increasing demand from the corporate sector.

It will help foster the growth in Australia’s vibrant carbon markets, where ACCUs credited from approved Emissions Reduction Fund (ERF) projects can be traded among individuals and businesses.

The proposed exchange market will make a significant contribution toward the government’s aim in “Streamlining private sector action to support emissions reductions”, a deregulation measure announced in the 2020 Federal Budget.

One of these deregulation measures will see the Clean Energy Regulator halving the time taken to develop new ERF methods and reducing the time it takes to assess applications for registering new ERF projects and issuing ACCUs. This will lead to increased and faster supply of ACCUs.

Powerledger was founded in 2016 to develop software for environmental commodity and energy trading but also tracking and tracing for Energy Attribute Certificates, Renewable Energy Certificates and Guarantee of Origin.

Powerledger has more than thirty projects in eleven countries across Europe, Asia Pacific and North America.