Climate Impact X
Climate Impact X is a Singapore-based startup that is building a series of markets to support voluntary carbon trading. It recently signed a deal with Nasdaq to provide its trading engine for the new spot market. This new market will offer investors a way to buy and sell carbon credits with greater transparency. In addition to the spot market, Climate Impact X also offers a corporate sustainability market and an auction venue.
The partnership between Nasdaq and Climate Impact X will further improve the transparency of global carbon markets. The joint venture will also help Climate Impact X achieve its goal of scaling the voluntary carbon market.
The ACX will use distributed ledger technology within its commodity trading process to create tokenised carbon credits. It plans to offer carbon credit futures as a commodity derivative. These digital tokens will be regulated through a Recognised Clearing House. This new regulatory body will play a pivotal role in the digital trading ecosystem, allowing companies to trade carbon credits as they would other financial assets.
The UAE, the second largest economy in the Arab world, has made a commitment to combat climate change. It has invested more than AED600 billion in renewable energy. Its goal is to become carbon neutral by the year 2050. By using ADGM’s AirCarbon Exchange, it hopes to help the UAE achieve its Net Zero 2050 strategic initiative.
In an effort to combat climate change, Thailand has launched the first carbon credit exchange. The country is trying to become carbon neutral by 2050 and will use this new market to help companies and governments keep track of their carbon footprints. The new carbon market will be run by the Federation of Thai Industries (FTI), a group of 12,000 private companies.
The carbon credit market is a marketplace in which developed countries with emission targets can trade their emissions for credits generated in developing countries. These countries can buy and sell carbon credits from entities in developed countries that are exceeding their limits. In this way, carbon credits can be exchanged between businesses and bought and sold on the global market at market prices. This practice serves the goals of both developing countries and developed countries with emission reduction targets.
The International Aviation Society (IBAC) has partnered with Carbon Trade eXchange to create a carbon credit exchange. The IBAC will provide aviation operators with credits in exchange for reducing emissions. Its mission is to facilitate a more sustainable aviation industry and help the environment. Currently, the IBAC operates under the umbrella of the EASA Ground Handling Rulemaking Task Force.
The IBAC carbon credit exchange enables air operators to buy offsets directly from other carbon offset projects. It provides an instant and transparent market for certified carbon credits and allows organizations to select projects that align with their business strategies.