SINGAPORE, ABU DHABIWATER and LONDON, August 82022 /PRNewswire/ — AirCarbon Exchange (ACX), the world’s first carbon negative exchange, has offset all of its emissions through the end of next year by removing Verified Carbon Units (VCUs) from the restoration project and conservation of Katingan peatlands.
The Bourse, which is revolutionizing the voluntary carbon markets by making them as easy to access and as inexpensive as possible, demonstrates its environmental commitment and its leadership in the sector by offsetting all its emissions on a forecast basis until the end of -2023. .
ACX has purchased and removed VCUs from the Katingan Peatland Restoration and Conservation Project, an ecosystem restoration initiative of a peat swamp forest in Central Kalimantan, Indonesia. The project aims to protect and restore 149,800 hectares of peatland ecosystems, provide local people with sustainable sources of income and fight against global climate change, all based on a solid business model. In addition to storing large amounts of CO2, the forest plays a vital role in stabilizing water flows, preventing devastating peat fires, enriching soil nutrients and providing clean water. The offsets are used to cover the Exchange’s emissions from 2021 to December 2023. In May 2021, ACX has become the world’s first carbon negative exchange, having offset its carbon emissions for the coming year through the Onil Stoves Guatemala Uspantan project. This latest withdrawal underscores ACX’s commitment to remaining carbon negative.
“As well as helping others achieve their carbon neutral goals, we are happy to continue to lead by example and do our part in offsetting our carbon footprint,” said Guillaume PazosCEO and co-founder of ACX.
As part of the global carbon trading market, companies and individuals can offset the emissions they are unable to reduce by purchasing and withdrawing carbon offsets. These offsets are generated by verified projects designed to benefit the environment and reduce greenhouse gas emissions. These projects must meet strict criteria set by carbon registries like VERRA or Gold Standard and undergo strict verification and validation before offsets can be issued. Once these offsets are withdrawn, they can no longer be traded or used.
Interest and investment in carbon trading has increased in recent years following the emergence of new regional markets. New mandatory emissions trading programs and growing consumer pressure for companies to become more carbon neutral have prompted companies to turn to the voluntary market for offsets.
ACX is at the forefront of efforts to make carbon markets global after growing from its origins in Singapore in the Middle East, Brazil and more recently in Africa with its announced collaboration with the Nairobi International Financial Center (NIFC) and the Nairobi Securities Exchange (NSE) to develop from Kenya first carbon exchange.
About AirCarbon Exchange (ACX):
AirCarbon Exchange (“ACX”) is a global exchange that is revolutionizing the voluntary carbon market. The Exchange’s clientele includes legal persons, financial operators, carbon project developers and other sector stakeholders. ACX provides its participants with an efficient and transparent trading platform that is easy to use, frictionless and with the lowest transaction fees available in the market. Its underlying distributed ledger technology will allow the carbon market to scale efficiently to meet global Net Zero ambitions.
ACX has been recognized as the world’s top carbon exchange in Environmental Finance’s prestigious Voluntary Carbon Market Rankings 2021 – the largest and most-watched survey of the global voluntary carbon market. ACX was also named ‘Best Energy Trading Solution’ by Wired UK and Publicis Sapient in their Global EnergyTech Awards, which highlighted companies that are ‘winning the race to reinvent energy’.
For more information or to trade carbon, please contact [email protected] or visit www.aircarbon.co.
SOURCE AirCarbon Exchange