Carbonplace and CIX Collaborate for Carbon Credit Trading

Carbonplace and global carbon marketplace and exchange, Climate Impact X (CIX), have teamed up on a pilot to lower entry barriers for organizations seeking high-quality carbon credits on the voluntary carbon market while delivering a seamless experience for customers to discover, compare, buy, and retire credits.

With global demand for voluntary carbon credits expected to increase fifteenfold by 2030 and a hundredfold before 2050, carbon markets will become an important driver of the shift to a low-carbon economy.

This pilot aims to transform the voluntary carbon market by building in the accessibility, trust, and transparency needed to grow at scale and maximize climate impact.

CIX, a joint venture with DBS Bank, Singapore Exchange, Standard Chartered and Temasek, enables the purchase of high-quality carbon credits directly from specific projects.

Using satellite monitoring and machine learning, CIX ensures transparency, integrity, and quality of carbon credits, ensuring projects are assessed for carbon sequestration potential and benefits to biodiversity and local communities.

Mikkel Larsen, CEO of CIX, said: "Voluntary carbon credits provide a robust, market-based approach to financing solutions for climate mitigation. However, the rate of finance is still very low compared to what is needed to keep global warming under a 2 degrees Celsius pathway by 2030. The collaboration between Carbonplace and CIX, through Project Marketplace, brings together easy access to curated, quality credits and a settlement system underpinned by transparency and integrity. It is precisely the type of accelerator we need for scaling up the voluntary carbon market."

Robert Begbie, CEO of NatWest Markets, said: "Collaborating with CIX has the opportunity to transform the voluntary carbon credit market. Through Carbonplace, we can drive transparent and secure trading, provide access to global distribution channels, and, due to the highly regulated standards of the banking industry, remove the need for multiple intermediaries, simplifying the process for carbon credit sellers and helping buyers to trust the process more."