CarbonX Signs MOU with AirCarbon Exchange, Building Indonesia's Carbon Marketplace
27 Mar, 2022, 23:00 ET
ABU DHABI, UAE, SINGAPORE and JAKARTA, Indonesia , March 27, 2022 /PRNewswire/ -- CarbonX, an Indonesian high impact Carbon asset developer, has signed a Memorandum of Understanding (MoU) with the world's first fully digital carbon exchange, AirCarbon Exchange (ACX) to jointly develop a carbon marketplace in Indonesia.
Director of CarbonX, Dessi Yuliana stated that the partnership will provide Indonesian carbon project developers with a domestic carbon market linked to ACX's international client order book. Also, the carbon marketplace will allow the growing Indonesian carbon market to rapidly scale up.
"The joint venture delivers all aspects of a comprehensive carbon infrastructure where buyers and sellers worldwide and domestically can transact in a transparent and efficient manner," Dessi said in an official statement, Monday (28/3/2022) in Jakarta.
Commissioner of CarbonX, Pandu Sjahrir added, Indonesia currently has committed to making a transition to a green economy through the Net Zero Emission (NZE) target in 2060 which is embodied in Presidential Regulation Number 98/2021 on the Implementation of Carbon Economic Value.
To achieve the target, all actors need to collaborate and are supported by enabling policies. Considering Bappenas data, Indonesia will require massive investments of around 3.4 to 3.5 percent of GDP per year to achieve the NZE.
"The carbon marketplace platform scheme created by CarbonX can contribute to assisting investment funding to achieve NZE targets. If all of this takes place optimally, Indonesia can produce a massive supply of carbon offsets and contribute to the NDC commitment, while also providing social and economic co-benefits," Pandu said.
AirCarbon Exchange Managing Director and Co-Founder, William Pazos stated the collaboration with CarbonX will provide more opportunities for carbon asset producers in Indonesia.
"Today's announcement marks another milestone in ACX's rapid ascent as one of the world's premier carbon marketplaces. By leveraging ACX's technology, the CarbonX partnership will launch with immediate scale. Indonesian buyers and sellers will immediately gain access to an international marketplace with participants from 30 countries," said Pazos.
ACX has been recognized as the Best Carbon Exchange in Environmental Finance's prestigious Voluntary Carbon Market Rankings 2021 - the largest and most closely watched survey of the world's Voluntary Carbon Market. With the first trade completed on the platform at the start of 2021, the Exchange has grown significantly and has been bringing transparency, efficiency, and liquidity to the voluntary carbon markets.
CarbonX is a high impact privately held Carbon investment company developing carbon asset investments across the region. The company will invest, develop, and maintain high-quality carbon assets and ESG projects in Indonesia with a hands-on operational approach.
CarbonX aims to promote Indonesia's green economy by growing carbon investments and financially supporting Indonesian developers to help Indonesia achieve its Net Zero Emissions target. Our mission is to invest in order to transform the lives of families across many outreached communities in Indonesia. Our investments provide social and economic co-benefits to relevant stakeholders, including communities.
About AirCarbon Pte. Ltd.
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.
Launched in 2019, the Exchange is a hybrid platform with a traditional central order book architecture that will be familiar to all experienced traders. The Exchange also utilizes the speed and efficiency of the blockchain to achieve atomic T-0 trade execution, clearing and settlement. The Exchange's core matching engine can currently match trades in the order ~10k per second.
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 its emissions 12 months forward.
SOURCE AirCarbon Exchange
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