Tokyo-based banking and financial services company Mizuho announced today an investment in carbon marketplace and exchange Climate Impact X (CIX), and the launch of a new partnership with CIX aimed at scaling the international carbon credit market in Asia.
Singapore-based CIX was launched in 2021 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.
In a statement announcing the new partnership, Mizuho said that the agreement supports its “vision of the significant role that carbon credits play in decarbonisation efforts in Japan and globally.”
Masahiro Kihara, President & Group CEO, Mizuho Financial Group, said:
“Mizuho supports customer’s efforts towards achieving a decarbonised society through financial and non-financial means. Carbon credits serve as a mechanism to provide funding for climate action projects and support the overall decarbonisation of society. In addition to contributing to decarbonisation efforts beyond value chains, there is an increasing importance in connecting technologies that achieve carbon removal from the atmosphere with investors to accelerate their implementation in society.”
According to the companies, the investment from Mizuho will be used to build out CIX’s existing platforms, deepen the company’s offerings for the Japanese market and ultimately expand its regional footprint.
Mikkel Larsen, Chief Executive Officer of CIX, said:
“CIX sees Japan as an increasingly progressive market for decarbonisation solutions, including the use of carbon credits. Having a strong partner in Mizuho will allow us to meaningfully serve customers in the market.”