(Alliance News) - AQRU PLC on Tuesday announced the incorporation of London Carbon Exchange Ltd, its wholly owned subsidiary specialising in opportunities in the underserved voluntary carbon market.

"London Carbon Exchange is developing a web platform that will enable investors to easily and securely access and trade in the VCM, a market that allows individuals and organisations to offset their emissions by purchasing voluntary carbon credits that represent certified removals or reductions of carbon emissions," AQRU said.

It added that London Carbon Exchange has opened a waiting list for investors interested in using its platform once it launches in the first half of 2023.

AQRU said that the VCM market is on the rise, with the total value of voluntary carbon transactions reaching nearly USD2 billion in 2021. It noted that this is four times more than the USD520 million in transactions recorded in 2020.

Looking ahead, AQRU expects the growth of the market to continue, as an increasing number of businesses and individuals commit to lowering their carbon emissions and limiting their impact on the environment.

However, the company said that "the VCM is a complex market with significant barriers to entry".

Chief Executive Philip Blows said: "Our mission at AQRU is to develop solutions that can simplify complex investment opportunities so that they're not only the domain of large institutional investors. This is exactly what we're doing through the founding of the London Carbon Exchange. By supporting our subsidiary as they develop their platform, we're creating a solution that will enable investors to easily access and trade trusted carbon credits so that they can take advantage of all the opportunities in the growing voluntary carbon market."

AQRU shares were flat at 0.50 pence each in London on Tuesday afternoon.

By Sophie Rose, Alliance News reporter

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