Singapore: AirCarbon Exchange Offsets Emissions Through to December 2023

ACX, the world’s first carbon negative exchange, has offset all its emissions through to the end of next year by retiring Verified Carbon Units.

SINGAPORE, August 8, 2022 /EINPresswire.com/ -- AirCarbon Exchange (ACX), the world’s first carbon negative exchange, has offset all its emissions through to the end of next year by retiring Verified Carbon Units (VCUs) from the Katingan Peatland Restoration and Conservation Project.

The Exchange, which is revolutionizing the voluntary carbon markets by making them as

easy to access and as low cost as possible, is demonstrating its commitment to the environment and leadership in the sector by offsetting all its emissions on a forward-looking basis through to end-2023.

ACX purchased and retired VCUs from the Katingan Peatland Restoration and Conservation Project, an ecosystem restoration initiative on a peat swamp forest in Central Kalimantan, Indonesia. The project seeks to protect and restore 149,800 hectares of peatland ecosystems, to offer local people sustainable sources of income, and to tackle global climate change – all based on a solid business model. As well as storing vast amounts of CO2, the forest plays a vital role in stabilizing water flows, preventing devastating peat fires, enriching soil nutrients and providing clean water. The offsets are used to cover the Exchange’s emissions from 2021 through to December 2023. In May 2021, ACX became the world’s first carbon negative exchange, having offset its carbon emissions for the year ahead through the Onil Stoves Guatemala Uspantan project. This latest retirement underscores ACX’s commitment to remain carbon negative.

“In addition to helping others achieve their carbon neutral goals, we are pleased to continue to lead by example and to do our part by offsetting our carbon footprint” said William Pazos, Managing Director and Co-Founder of ACX.

As part of the global carbon trading market, companies and individuals can offset the emissions they are unable to reduce by buying and retiring carbon offsets. These offsets are generated by verified projects designed to benefit the environment and reduce greenhouse gas emissions. These projects must meet the strict criteria set by carbon registries like VERRA or Gold Standard and undergo strict verification and validation before offsets can be issued. Once these offsets are retired, they can no longer be traded or used.

Interest and investment in carbon trading has surged in recent years following the emergence of new regional markets. New mandatory emissions trading programs and growing pressure from consumers for businesses to become more carbon-neutral has driven companies to turn to the voluntary market for offsets.

ACX is at the forefront of efforts to make carbon markets global having expanded from its origins in Singapore into the Middle East, Brazil and most recently into Africa with its announced collaboration with the Nairobi International Financial Centre (NIFC) and the Nairobi Securities Exchange (NSE) to develop Kenya’s first carbon exchange.