Climex

Climex, also referred to as the Climex Exchange, is a Netherlands-based organisation that describes itself as a "pan-European" marketplace for the trading and auctioning of environment-related commodities and energy contracts. It is headquartered in Amsterdam and operates entirely online, without a physical trading floor. Its activities have centred on the auctioning of emission allowances — including European Union Allowances (EUAs), Certified Emission Reductions (CERs) and Emission Reduction Units (ERUs) — as well as auctions connected to the procurement of energy contracts. In its exchange operations, the Amsterdam-based energy exchange APX-ENDEX acted as the central counterparty, formally serving as the seller in every purchase transaction and the buyer in every sale. The business began in 2003 under the name New Values. In 2005 it formed the Climex Alliance, a partnership of European regional players including New Values in the Netherlands, SENDECO2 in Spain, Vertis Environmental Finance/euets.com in Hungary, STX Services and APX B.V. In 2007 New Values acquired the Dutch/Belgian auction platform EnergieKeuze (formally European Energy Auction), and in 2008 the regional partners merged into the present organisation, Climex. Climex became known for facilitating government pilot auctions of emission allowances. In October and November 2011 the Dutch government held two pilot auctions of emission allowances through Climex, selling a total of 4 million CO2 emission rights valid until 2020 and raising EUR 59.46 million. In March 2011, however, Climex announced that it would stop its main activity — spot trading (daily trading) in EU emission allowances and CERs — following the European Commission's suspension of trading in early 2011 after the theft of millions of allowances in Germany, Austria, Italy, Czechia, Greece and Romania. Climex decided to focus on auctions instead, while other emission exchanges such as BlueNext (Euronext), the European Climate Exchange (InterContinental Exchange) and the European Energy Exchange (Deutsche Börse) continued to offer spot trading. Since April 2014 Climex has been an independent company; before that, Rabobank and the grid operator TenneT were shareholders. Today Climex positions itself as a partner for the procurement of sustainable energy and CO2 compensation, combining market analysis with advisory work. Its client references include a collective of eight Dutch provinces coordinated through the Inter Provinciaal Overleg (IPO), for which Climex helped develop an energy procurement strategy leading to two successful tenders; Enexis and other grid operators, for whom Climex produced a market report on the sustainability of natural-gas grid losses; and Accenture, with which Climex researched the changing Dutch energy landscape and the behaviour of large consumers.

Climex traces its origins to 2003, when the company was founded under the name New Values. It was established in the Netherlands and based in Amsterdam, positioning itself in the emerging market for environmental commodities and emission allowances that had grown out of the Kyoto Protocol and the European Union Emissions Trading System. In 2005 New Values formed the Climex Alliance, a network of European regional partners: New Values (Netherlands), SENDECO2 (Spain), Vertis Environmental Finance/euets.com (Hungary), STX Services (Netherlands) and APX B.V. (Netherlands). The alliance was intended to give the platform a pan-European reach in the trading of emission rights. In 2007 New Values acquired the Dutch/Belgian auction platform EnergieKeuze, formally known as European Energy Auction. This acquisition added auction capability to the group's trading activities. In 2008 the regional partners merged into the current organisation, Climex, consolidating the alliance into a single entity. Climex operated as an online exchange for environmental commodities. Its trading activities included the auctioning of emission allowances — European Union Allowances (EUAs), Certified Emission Reductions (CERs) and Emission Reduction Units (ERUs) — and auctions related to the procurement of energy contracts. All trading took place online, with no physical exchange floor. The Amsterdam-based energy exchange APX-ENDEX acted as the central counterparty for all trades, formally serving as the seller in every purchase and the buyer in every sale. A turning point came in early 2011, when the European Commission suspended trading in emission allowances following the theft of millions of allowances in Germany, Austria, Italy, Czechia, Greece and Romania. In March 2011 Climex announced that it would stop its main activity — spot trading (daily trading) in EU emission allowances and CERs — and focus on auctions instead. Other emission exchanges, including BlueNext (Euronext), the European Climate Exchange (InterContinental Exchange) and the European Energy Exchange (Deutsche Börse), continued to offer spot trading because each was owned by a large derivatives exchange that could support such trading. Despite the withdrawal from spot trading, Climex continued to play a role in government auctions. In October and November 2011 the Dutch government held two pilot auctions of emission allowances through Climex. A total of 4 million CO2 emission rights were sold, valid until 2020, raising EUR 59.46 million for the Dutch government. In addition to the auctions, the government also ran a pilot for selling emission allowances through the banking system. In April 2014 Climex became an independent company. Before that, Rabobank and the grid operator TenneT had been shareholders. Following its independence, Climex continued to develop its advisory and procurement services. Its client references include a collective of eight Dutch provinces, formed with Climex on behalf of the Inter Provinciaal Overleg (IPO), for which Climex provided expert advice on an energy procurement strategy that led to two successful tenders, resulting in 100% green electricity from the Netherlands, additionality, a knowledge-development opportunity dossier, flexibility for supplying self-generated energy, stimulation of innovation and delivery of 100% green gas. Enexis, together with other grid operators and on behalf of Netbeheer Nederland, used Climex to obtain an up-to-date market overview — including supply, demand and price movements — of various options for making natural-gas grid losses more sustainable, with Climex delivering a thorough, constructive market report within a short timeframe. Accenture, in cooperation with Climex, researched the changing Dutch energy landscape, finding in Climex a partner with in-depth knowledge of the energy market and especially of the behaviour of large consumers; the results were worked into a report. Climex also describes itself as offering a unique auction platform.

• 2014

  In April, Climex becomes an independent company; previously Rabobank and TenneT were shareholders.

• 2011

  In March, Climex announces it will stop spot trading in EU emission allowances and CERs and focus on auctions.

• 2011

  In October and November, the Dutch government holds two pilot auctions of emission allowances through Climex, selling 4 million CO2 rights for EUR 59.46 million.

• 2008

  Regional partners merge into the current organisation, Climex.

• 2007

  New Values acquires the Dutch/Belgian auction platform EnergieKeuze (European Energy Auction).

• 2005

  New Values forms the Climex Alliance with European regional partners.

• 2003

  Company founded under the name New Values.

Pan-European online marketplace and advisor for environmental commodities, emission allowance auctions and sustainable energy procurement.

• Emission allowance auctions (EUAs, CERs, ERUs)

• Energy contract procurement auctions

• Sustainable energy procurement advisory

• CO2 compensation services

• Market analysis and reports

1. 1Climex – Partner voor inkoop van duurzame energie & CO2-compensatieclimex.com
2. 2Climexwikidata.org
3. 3Climexnl.wikipedia.org