MAG is “a boutique firm specialising in providing carbon market insights, trading advice and strategies” to clients including governments, financial institutions and consultancies.
In other words, it helps its customer get the most out of Article 6 of the 2015 Paris Agreement on climate change, which allows one country to pay for carbon emissions to be reduced in a second country and then count those reductions towards its own national targets.
Aurecon sees the acquisition as its most significant step so far to building a full-service offering in its sustainability and climate change advisory division.
“Welcoming MAG into Aurecon is a natural move in light of our shared visions to help society transition to a net-zero carbon future,” said Aurecon chief executive William Cox.
“MAG is the eminent carbon market expert in Australia with founder Raphael Wood instrumental in setting up the Emissions Reductions Fund that paved the way for Australia's carbon market. MAG's local and international experience in this space is second to none and offers a game-changing addition to our practice,” added Cox.
Aurecon now intends to extend its sustainability and climate change capabilities to include carbon trading by offering advice and insights on carbon market dynamics and trading, carbon procurement strategies, carbon market risks and mitigation strategies and analysis of policies and regulations.
“Integrating MAG’s carbon market expertise with Aurecon’s consulting and engineering know-how will ensure we remain ahead of the curve and provide our clients with the full toolkit for their climate transition strategies,” Cox said.
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