PR95161

LONDON, March 25, 2022 /PRNewswire=KYODO JBN/ --

Key carbon market players develop a pilot to enable reliable, secure, and

scalable trading of carbon credits.

Carbonplace, the new carbon credit settlement platform, 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.

The pilot will establish the technical, legal, and operational framework for

executing carbon credit transactions via CIX's platform, "Project Marketplace",

a new digital platform for businesses and carbon project suppliers launched

last week, with Carbonplace performing all settlements. It will enable many new

customers – including corporations and financial institutions of all sizes – to

progress their climate strategies, and buy and trade carbon credits to fund

large-scale emissions removals or reductions that would not otherwise be

possible.

The collaboration joins the strengths of the two new, high-profile carbon

market participants. Carbonplace's wide client base, unique settlement

technology, wallet service to record and store voluntary carbon credits, and

the high standards set by the regulatory environment for banks will be combined

with CIX's curated marketplace of quality-assured credits, giving existing bank

customers scaled access to the carbon market. The resulting end-to-end solution

will reduce complexity and increase access, trust, and transparency.

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.

Carbonplace is a settlement platform that will provide a record of ownership

and enable reliable, secure, and scalable trading of certified carbon credits.

Launched last year and expected to be fully operational by the end of 2022, the

fintech is being developed by banking giants BNP Paribas, CIBC, Itaú Unibanco,

National Australia Bank, NatWest Group, Standard Chartered, and UBS. Only

carbon credits verified according to internationally-recognized standards will

be processed on its platform.

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."

About Carbonplace [

https://carbonplace.com/assets/dist/files/CIX-Press-Release-FINAL-3.22.22.pdf ]

About Climate Impact X [

https://carbonplace.com/assets/dist/files/CIX-Press-Release-FINAL-3.22.22.pdf ]

About NatWest Markets [

https://carbonplace.com/assets/dist/files/CIX-Press-Release-FINAL-3.22.22.pdf ]

Contact

www.carbonplace.com

carbonplace@browningenvironmental.com

+44.7585-034895

www.climateimpactx.com

media@climateimpactx.com

Source: Carbonplace