Does Carbon Sync hold an Australian Financial Services Licence (AFSL) and if so, what does this mean?
Yes, Carbon Sync is a Corporate Authorised Representative of AFSL number 450874. This AFSL is held by Carbon IQ Trading Pty ltd (ABN: 167 028 211) and Carbon Sync has been authorised to provide financial advice under this licence.
According to the Clean Energy Regulator, “Australian carbon credit units are classified as financial products under the Corporations Act 2001. This means that some participants may require an Australian financial services licence to buy, sell and trade in the carbon market.
The Australian Securities & Investments Commission (ASIC) is responsible for issuing licences under financial law, and monitoring businesses that provide financial services in financial products.
The Clean Energy Regulator also states, “carbon market participants who provide financial advice, trade, or make and operate and market in Australian carbon credit units, or derivatives of these units, require an Australian financial services licence (AFSL). Participants who conduct other financial services such as operating a registered managed investment scheme, or custodial or depository services must also hold an Australian financial services licence.”
Carbon Sync’s team recognises the importance of assuring its customers and stakeholders that it holds such a licence, and that team members who are involved in advising, educating and/or selling Carbon Sync’s services are fully trained to enable Carbon Sync to operate under this AFSL.