Western Climate Initiative Inc. (WCI, Inc.), invites you to participate in our Request for Proposal (RFP) for Financial Services for Auction and Reserve Sale.
WCI, Inc., is a non-profit corporation providing cost-effective technical and administrative solutions for supporting the coordinated development and implementation of our Participating Jurisdictions' greenhouse gas (GHG) emissions trading programs to fight against climate change. WCI, Inc. Participating Jurisdictions – currently the State of California, and the Provinces of Québec and Nova Scotia – have established the largest carbon market in North America and they are continuing to develop and implement their separately managed economy-wide Cap-and Trade programs.
Together, WCI, Inc. Participating Jurisdictions Cap-and-Trade programs cover a population of more than 50 million people, representing about 3 trillion USD / 4 trillion CAD in gross domestic product (GDP) and impose a cap on 402 Mt CO2 eq. of covered GHG emissions in 2020.
Since its creation in 2011, WCI, Inc.'s services supported 37 auctions, which generated approximately 25.4 billion USD / 32.4 billion CAD of auction proceeds for its Participating Jurisdictions and California consigning entities. As of the end of June 2019, there were approximately 890 entities registered in our centralized market registry.
Over the next decade, WCI, Inc. intend to be recognized as the provider of world-class services that enable the success of its Participating Jurisdictions' emissions trading programs. In order to do so, WCI, Inc.'s secure, reliable and robust services must be flexible and expandable to support the evolving needs of its Participating Jurisdictions and the onboarding of new jurisdictions that join in the future.
This RFP seeks awardee(s) to develop and provide Financial Services to support the WCI, Inc.'s Participating Jurisdictions "Auctions", including:
- Multi-Jurisdiction Joint Allowances Auctions ("Joint Auctions"), such as the California-Québec Joint Auctions currently held on a quarterly basis;
- Jurisdiction-Specific Allowances Auctions ("Jurisdiction Specific Auctions"), such as the upcoming bi-annual Nova Scotia Auctions starting in June-2020;
- Potential Jurisdiction-Specific Reserve Sales (e.g., California Reserve Sale, Québec Sale by Mutual Agreement, Nova Scotia Sale by Agreement).
All Financial Services should be designed such that new jurisdictions can be efficiently added in a cost-efficient manner, and without requiring extensive redesign or changes to existing services.
Why Participate in this Solicitation?
This is a very exciting opportunity to incorporate the growing carbon trading markets in your company´s services portfolio while pioneering for the fight against climate change along with our Participating Jurisdictions. We celebrate the growth of WCI, Inc. Participating Jurisdictions Cap-and-Trade programs and are delighted to open up this RFP for financial institutions to innovate and offer cost efficient solutions to enable our journey into our vision and mission.
For more details about WCI, Inc.'s purpose, approach and services, visit our website at
http://wci-inc.org/index.php.
Feel free to contact us at rfp@wci-inc.org to learn more about WCI, Inc., the Purpose of this RFP and the exciting future our Corporation holds!
