Climate change is a challenge that has been met through a diversity of policy responses. The market based variant typically sells ‘rights to pollute’ (aka carbon permits or units) to polluters at a market price. These units can then be traded on a secondary market (exchange). This type of Emissions Trading Scheme relies on auctions to create the initial price per permit. The process is similar to Government bonds that are sold at auction to set the initial price and which are then traded on exchanges.
Tradeslot has been selected to provide the technology required to run Australia’s Emission Trading Scheme. The platform offers an ascending clock auction mechanism, Government strength security and usability that has been designed and tested for non-sophisticated users. It is easily deployed (on cloud environments or dedicated hardware) and can be operated by in-house staff. It is also versatile enough to be used in other Government rights auctions, be they environmental rights, mining and drilling licenses, fishery licenses, taxi permits etc.