106 jobs created as London companies move to Sydney

11 January 2014

Sydney Harbour

The NSW Government has helped secure at least 106 jobs for the development of the State's trading hub with the relocation of two London companies to Sydney.

Carbon Trade Exchange, the world's first online platform for businesses to trade carbon credits, is moving its headquarters from London to Sydney and creating 85 jobs over five years.

Carbon Trade Exchange's sister company, Ventura Carbon, which provides corporate advisory services for clean technology projects, is also moving to Sydney creating a further 21 jobs over five years.

The NSW Government helped secure the two investments with assistance from the Office of Trade, Business and Industry.

"The securing of these investments for Sydney is a vote of confidence in the city's future as an Asia Pacific finance hub," Deputy Director General for Trade, Business and Industry, Barry Buffier said.

Carbon Trade Exchange provides an online marketplace for voluntary buyers and sellers of carbon credits to offset emissions and become 'carbon neutral'. The company's presence will help establish Sydney's position as an Asia Pacific leader for carbon trading.

Ventura Carbon is a boutique environmental advisory firm providing specialised services for projects in the energy efficiency, water, sustainable agriculture and forestry, energy from waste and geothermal sectors.

Carbon Trade Exchange Chief Executive Officer Wayne Sharpe said his company chose to relocate to Sydney to focus on strong emerging opportunities in the Australian market.

"Australia's transition to a low carbon economy over the next decade will present opportunities for businesses specialising in carbon reduction technology, consulting services, research and trading," Mr Sharpe said.

"We chose Sydney as the most strategic location for our global headquarters given its status as Australia's global city and an Asia Pacific finance hub.

"The presence of Carbon Trade Exchange will have a positive impact on the market and encourage businesses to actively trade carbon credits. We hope offering an easy to use, cost effective solution to carbon trading, more companies will chose to go 'carbon neutral'," Mr Sharpe said.

Carbon Trade Exchange and Ventura Carbon join a range of Sydney organisations providing carbon-related services including trading services; corporate and project finance; monitoring, reporting and verification services; carbon asset management and strategy;
registry and legal services.

These include key voluntary carbon market participants such as Westpac, Commonwealth Bank, Markit Environmental Registry, Ernst & Young, Bloomberg New Energy Finance, Thomson Reuters, Baker & McKenzie, Norton Rose, Climate Friendly, and COZero.

Mr Buffier said the growth of voluntary trading activities will present a range of additional opportunities for new products and services in well established sectors of the NSW economy.

"NSW is in a strong position to leverage its legal, accounting, finance, compliance and project management skills to meet the growing demand for renewable energy infrastructure, investment in clean technologies, and emissions trading and reporting," Mr Buffier said.