Climate Impact X (CIX) has announced the launch of Project Marketplace, a Singapore-based digital platform for businesses and carbon project suppliers to list, discover, compare, buy and retire quality carbon credits.
According to CIX, the marketplace will remove barriers for companies to access quality credits, enabling businesses of all sizes to participate in the voluntary carbon market.
"The platform will offer robust information on projects, along with third-party ratings and satellite monitoring technology to facilitate the growing interest, and create greater trust, in the voluntary carbon market," reads a March 16 press release.
One project on offer is the Tambopata-Bahuaja Biodiversity Reserve in Peru. The project creates an economic buffer zone around a 573,299-hectare forest that is critical habitat to 30 threatened species including the Giant Otter, Blue-Headed Macaw and Giant Armadillo. It also helps smallholder farmers transition to sustainable cocoa production, restores degraded land and helps relieve deforestation pressures by working with local and indigenous communities, says CIX.
Project Marketplace currently offers credits from nature-based projects, and aims to expand into other credits later this year.
Jointly established by DBS Bank, Singapore Exchange (SGX), Standard Chartered and Temasek, CIX is a global marketplace and exchange for high-quality carbon credits.
CIX also announced today the members of its board of directors. They include Mikkel Larsen, CEO of CIX; Piyush Gupta, CEO of DBS; Loh Boon Chye, CEO of SGX; Bill Winters, group CEO of Standard Chartered; Dilhan Pillay Sandrasegara, executive director and CEO of Temasek Holdings; and Claire O’Neill, co-chair of the World Business Council for Sustainable Development Imperatives Advisory Board.
The board will support the company as it drives investments in the voluntary carbon market and help connect CIX with relevant and influential knowledge and technology partners, says CIX.
“We are excited to have appointed a Board that brings both breadth of expertise and a global outlook," says Larsen. "Our board represents not just the strength of commitment from our shareholders but diverse views from beyond the corporate sector, all of which serves to enrich what we do. I have great confidence that the strengths of our individual board members will enable us to closely align our market strategy with our purpose and vision."
See also: UK to spend GBP22 bil on carbon capture sites as costs rise
CIX will adopt a rotational chairperson system, with Gupta as the first chairperson of the board.
Also by CIX is the Auction, launching in 1H2022, a specialised digital venue for discovering prices of unique projects and standardised products.
CIX's Exchange, launching in 4Q2022, enables two-way spot trade of high-quality credits through standardised contracts. It will host meaningful liquidity and provide the market with clearer price transparency and risk management solutions.
Photo: Bloomberg
