DBS Bank (DBS), Singapore Exchange (SGX), Standard Chartered and Temasek will join forces to develop Climate Impact X (CIX), a global carbon exchange and marketplace.

According to a joint press release, the companies will enter a joint venture to establish CIX, which is aimed at providing organisations with high-quality carbon credits to address “hard-to-abate emissions”.

Organisations will be able to buy and sell carbon credits on CIX through different products and platforms that will be offered.

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