ABU DHABI, SINGAPORE and RIO DE JANEIRO, May 4, 2022 /PRNewswire/ -- AirCarbon Exchange (ACX) successfully hosted the world's first micromobility carbon credits auction, in collaboration with Bolsa Verde Rio, Tembici, BlockC and ZCO2.
"The ACX Brazil auction is yet another milestone in our quest to bring transparency and efficiency to the carbon markets," said William Pazos, Managing Director & Co-Founder of ACX. "The unique Tembici carbon credits reached an international audience covering 30 countries through ACX's network. We are pleased to bring these international players to the Bolsa Verde."
The auction, which ran for 24 hours from April 27th to April 28th, offered credits generated from Rio de Janeiro's shared bike scheme run by Tembici, one of Latin America's leading micromobility technology companies. This was the first time micromobility carbon credits had been publicly available with the event attracting interest from a wide range of companies with StoneX Financial Inc. and ClimateSeed ultimately winning with bids of $8.45-$8.50.
"We're at the point where we urgently need to rethink the impact we're having on the environment so it is gratifying to see companies like StoneX and Climate Seed helping to construct a more sustainable world," said BlockC CEO Carlos Martins. The credits have been issued using the AMS-III.BM.: Lightweight two and three wheeled personal transportation calculation methodology developed by the UNFCCC (United Nations Framework Convention on Climate Change). The credits generated by Tembici were calculated by ZCO2, which is part of the BlockC group of companies dedicated to the decarbonization journey.
"We are pleased with every element of this pioneering auction. Our success in working alongside our strategic partners points to the start of a very promising business opportunity," said Leandro Fariello, Tembici's CFO. "The credits that were auctioned have a key point of difference to other carbon credits in that they are generated within an urban setting. This theme will become increasingly important so we will reinvest the revenue generated back into the business on new technologies and bicycles."
About AirCarbon Exchange
AirCarbon Exchange ("ACX") is a global exchange revolutionizing the voluntary carbon market. The Exchange's client base comprises corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX provides its clients with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest commission fees available on the market. Its underlying technology will allow the carbon market to scale efficiently to meet global ambitions of Net Zero.
As of May 2021, ACX is the world's first carbon negative exchange, having offset its carbon emissions 12 months into the future (to May 2022) through the Onil Stoves Guatemala Uspantan project. ACX is committed to continuing to offset all of its emissions 12 months forward. In 2022, ACX was named as the 'Best Solution in Energy Trading' by Wired UK and Publicis Sapient at their Global EnergyTech Awards, which spotlighted the companies that are 'Winning the Race to Reinvent Energy'.
Tembici is the leading micromobility company in Latin America, responsible for more than 60 million trips by bicycle in the main Brazilian cities, including Rio de Janeiro, São Paulo, Salvador, Recife, Porto Alegre and Brasília as well as in Santiago, Chile, and Buenos Aires, Argentina. It was named as one of the most promising and innovative startups in the country, in the list of the 100 Startups to Watch 2020 and 2021 and featured in the Mobility category in the "Best of ESG 2021", by Exame. Over the last few years, the company has boosted growth of the micromobility sector.
BlockC is a Brazilian company that has developed a blockchain-based platform offering a reliable, transparent and effective solution for organizations that want to make their transition to a low carbon economy. A solution that provides reliability, transparency and effectiveness to the decarbonization journey of companies through the use of disruptive technologies. A member of a group of companies with more than 20 years of experience in greenhouse gases and environmental assets, BlockC is a partner of AirCarbon Exchange and the City of Rio de Janeiro in the Brazilian operation of ACX.
For more information, visit: www.blockc.com.br
ZCO2 is an innovative coalition for environmentally-conscious individuals and companies engaged. It promotes responsible consumption and seeks to fight the causes of climate change, through tokens backed by carbon credits, transacted into digital wallets and inserted on a relationship platform.
For more information, please visit: www.zco2.com.br