Aera Announces a Carbon Credits Transaction with EDF Trading25 July 2022
Aera Group (“Aera”), the largest originator and trader of African carbon credits, is pleased to announce the signing of a carbon credits transaction with EDF Trading (“EDFT”), a specialist in the wholesale energy markets and part of EDF Group, a global leader in low-carbon energies.
The contract features the forward sale of Verra VCS related units (VCU) at a fixed price with a delivery expected in Q4 2022. The credits are generated by a cookstoves program developed in Central Africa.
Beyond this first trade, Aera and EDFT plan to extend the cooperation. The signature of a full framework agreement and standardised terms will facilitate and simplify further transactions.
Tania El-Khoury, EDFT Senior Originator – Environmental Products: “EDF Trading was an early mover in the carbon markets. Since inception we have extensively worked to provide liquidity across all carbon market segments from compliance to voluntary primary and secondary markets. Today global warming is at a turning point and EDFT is deeply committed to support carbon neutrality. Offsets are one efficient tool to support that goal in the short to medium term and we’re pleased to partner with Aera to provide our buyers and Group customers with access to a unique African project.“
Fabrice Le Saché, Chairman of Aera Group: “Aera consolidates its marketing and sales capacity by signing framework agreements with reputable and highly rated counterparts. EDF Trading is a reliable and strong partner, and we expect to increase our cooperation in the months to come. 2022 is a very ambitious year for Aera as we set a sales target at 10 MtCO2 for spot transactions alone which is twice the amount of 2021. We need to keep up a high pace as many more projects in Africa need carbon finance to take off or scale up.”
About Aera Group: Aera is the largest independent originator and trader of carbon credits in Africa with a total carbon credits portfolio amounting €550m market value
About EDF Trading: EDFT offers carbon credits from a diverse portfolio of projects covering different technologies and geographical locations. The projects are mainly registered under the three main internationally recognised standards: the UN’s Clean Development Mechanism (CDM), the Gold Standard and the Verified Carbon Standard (VCS). www.edftrading.com