Westpac today became Carbon Trade’s banker and will facilitate transactions on CTX’s web-based global carbon credit trading exchange.
In a statement today, Westpac said it would provide banking services to the exchange and transaction capability for its online trading exchange platform.
The price of the deal was undisclosed.
London-based Carbon Trade Exchange has offices in Queensland’s Southport and New York.
The exchange enables carbon buyers and sellers worldwide to trade most major voluntary carbon standards electronically and will soon offer trading of international offset credits.
Westpac said the deal with CTX was part of its five-year climate change strategy.
The bank plans to reduce its overall emissions by 30 per cent by 2013.
