The Global Carbon Market Utility
The GCMU is an early-stage financial services organization with a mission to build market infrastructure to help grow the carbon market. This market is essential to drive capital toward reducing and removing emissions. But today, the market is too small to make a significant climate impact, because it lacks many structures and processes that are critical foundations of the mature markets that make our global financial system safe and trustworthy.
The GCMU aims to provide the services of a public financial market-utility. It will establish and maintain robust data standards and ledgers and provide a central book of record. It will develop and operate systems for data transparency and management, contracts, audits, verification, and dispute resolution. This infrastructure will enable financial intermediaries to enter the market, provide project financing, manage risk, and match thousands of buyers and sellers together.
As the enabling infrastructure for a new market, the GCMU must facilitate efficient interaction among diverse market participants ranging from scientists, engineers, policymakers, regulators, audit and accounting professionals, corporations, and governments. The GCMU will be staffed with professionals working to meet the needs of various stakeholder groups, including financial institutions, auditors, technology providers, and regulatory agencies.