We are proud of the number of "firsts" we have achieved:

• 1st post 2012 Letter of Approval in China
• 1st reduction of emissions from deforestation and degradation (REDD) methodology approved by the Voluntary Carbon Standard
• 1st Programme of Activities project approved in China
• 1st trade in the pilot cap and trade scheme in Tianjin, China
• 1st trade on the China Beijing Environmental Exchange

This pioneering spirit, combined with our experience across a large network, has delivered value to projects and counterparties around the world.