ACX partners with EcoRegistry and Cercarbono to promote carbon offsetting through the use of technology and innovation
ABU DHABI, UAE, SINGAPORE and MEDELLIN, Colombia, July 11, 2023 /PRNewswire/ — ACX (formerly AirCarbon Exchange) has joined forces with EcoRegistry and Cercarbono to help evolve the Voluntary Carbon Market, making carbon offsetting accessible and seamless for all. This dynamic partnership combines ACX’s expertise in exchange operations with EcoRegistry’s cutting-edge registry platform and Cercarbono’s role as a pioneering carbon credit standard setter.
William Pazos, Co-CEO and Co-Founder of ACX, said, “Together, we are transforming the carbon offset landscape, bringing innovation and technology to the forefront”.
Among the many benefits, the partnership will allow ACX clients representing 31 different countries to purchase and retire Cercarbono’s carbon credits held under EcoRegistry, while taking advantage of the use of interconnectivity to facilitate trades.
Juan David Durán Hernández, CEO of EcoRegistry, emphasized, “Our partnership empowers individuals and companies worldwide to contribute to carbon offsetting on a global scale”.
There is also the potential to develop a broader understanding of the use of carbon credits to pay regional carbon taxes, drawing on Cercarbono’s knowledge gained from its close involvement with Colombia’s approach to this growing area. While Colombia may have been the one of the first few countries to allow carbon credits to be used as payment for environmental taxes, others are certain to follow, with Singapore announcing a similar move last year.
Alex Saer, CEO of Cercarbono, highlighted the benefits of tax collaboration, stating, “This strategic alliance unlocks new avenues for utilizing carbon credits and encourages environmentally conscious practices through taxation systems.”
The other key area of mutual benefit is the widening of the respective companies’ client base via cross-referrals with project developers seeking to apply Cercarbono’s standards to establish carbon credits on EcoRegistry and know they have a clear route to market via ACX’s platform. The three-way collaboration between a registry, a standard setter and an exchange also has the potential to dramatically expand the membership of ACX’s exchanges globally.
More broadly, this latest partnership in a very active year for ACX, highlights the role the group sees itself playing as the bridge between the compliance and voluntary carbon markets. This strategic alliance empowers companies to cultivate confidence and trust in the value of the projects they aim to acquire credits from. As a result, the traded volume of credits generated by these carbon projects increases, creating a more financially incentivized landscape for developers to continue to invest in these environmentally crucial schemes. This momentum encourages a greater number of companies to leverage carbon credits, effectively offsetting their environmental taxes and contributing to a more sustainable and responsible business ecosystem.
Together, ACX, EcoRegistry, and Cercarbono are reshaping the voluntary carbon markets, championing sustainability, and forging a path toward a greener future.
About the ACX Group:
The ACX (formerly AirCarbon Exchange) Group, including ACX Ltd and AirCarbon Pte. Ltd. which operate environmental exchanges in Abu Dhabi and Singapore respectively, caters to corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX provides participants with an efficient and transparent trading platform that is user-friendly, seamless and offers the lowest transaction fees in the market. Leveraging distributed ledger technology, ACX facilitates the scalable growth of the environmental product markets to align with global ambitions of achieving Net Zero.
ACX is proud to be a member of the International Emissions Trading Association (IETA) and the International Sustainability and Carbon Certification (ISCC), further enhancing its commitment to sustainability and responsible trading practices for carbon and other environmental products. ACX has garnered international recognition as the Best Carbon Exchange globally in Environmental Finance’s esteemed Voluntary Carbon Market Rankings for two consecutive years (2021, 2022), solidifying its position as a leader in the industry.
For more information, please contact [email protected] or visit www.acx.net.
About EcoRegistry:
EcoRegistry is a company that aims to boost the implementation of solutions towards a sustainable development through technology.
Having achieved the landmark of being the first blockchain-based carbon credit registry, the company is continuing to develop new solutions to create positive impact, new opportunities for its clients and build trust in the market.
For more information, visit: https://www.ecoregistry.io/
About Cercarbono:
Cercarbono is a certified carbon standard with a voluntary carbon certification programme that facilitates and guarantees the registration of Climate Change Mitigation Programmes or Projects (CCMPs), the certification of emissions, and the registration of the carbon credits generated by these initiatives.
The company’s mission is to promote and support the development of initiatives in different economic sectors to mitigate climate change and strengthen the dynamics of the carbon market. Ultimately, it is seeking to be a voluntary carbon certification standard with international recognition and leadership, identified for offering security and transparency in its processes and services.
For more information, visit: https://www.cercarbono.com/
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