Carbon exchange and marketplace Climate Impact X (CIX), announced today the launch of Project Marketplace, a digital platform for carbon credits, which aims to accelerate the corporate’s sector ability to take climate action through verified carbon projects.
CIX was launched last year through a joint venture between DBS, Singapore Exchange (SGX), Standard Chartered and Temasek, aimed at offering distinct platforms and products that cater to the needs of different buyers and sellers, leveraging satellite monitoring, machine learning and blockchain technology to enhance the transparency, integrity and quality of carbon credits.
The new platform enables businesses and carbon project suppliers to list, discover, compare, buy and retire carbon credits. The platform also offers information on projects, along with third-party ratings and satellite monitoring technology to facilitate the increased interest and create greater trust in the voluntary carbon market (VCM).
Mikkel Larsen, Chief Executive Officer of CIX, said:
“Creating marketplaces defined by transparency and integrity is of utmost importance for a rapidly evolving landscape like the VCM, especially during periods of uncertainty.”
Project Marketplace currently offers credits from nature-based projects with the aim of expanding into other credits later this year. CIX stated that all listed projects are verified by global registries, subjected to internal evaluations of carbon sequestration performance, governance and risk management, social integrity and biodiversity contribution, and checked against independent ratings.
CIX stated that it has also set up an independent international advisory council to facilitate a deeper understanding of the VCM. A panel of subject matter experts will provide views on the latest science, policy and market application, and it will guide CIX on project evaluation and best-practice insight.
“Responsible corporates are looking for assurance that the credits they buy will deliver tangible, lasting climate impact. Therefore, we chose to launch Project Marketplace ahead of our Auction and Spot Exchange platforms. It is the ideal venue for companies that want to explore the VCM. Our aim is to engender greater confidence amongst buyers and sellers of carbon credits. To achieve that goal, we focus on curating quality credits and offering credible data, insights and practical guidance to our wider community.”