In light of Verra’s announcement that it has completed its review into the Southern Cardamom REDD+ project (VCS 1748) in Cambodia, Climate Impact X (CIX) is inviting feedback on our proposal to reinstate the project into the nature-based standard contract CIX Nature X (CNX).

Verra has found that the project proponent has demonstrated the appropriate actions to address the alleged harm, mitigate the risk of future harm and continually improve project performance. As a result, Verra has clarified that the project remains active in all three programmes in which it is registered: the Verified Carbon Standard (VCS) Program, the Climate, Community & Biodiversity Standards (CCBS) Programme, and the Sustainable Development Verified Impact Standard (SD VISta) Programme.

Under the proposal, the Southern Cardamom project will be deliverable across all vintages of CNX standard contracts, including v16-19, v17-20, v18-21, v19-22, and v20-23. It will also be deliverable into the v21-24 contract, which will begin trading on 2 January 2025. CIX seeks feedback on this proposal from market participants.

Market participants may provide feedback to pricing@climateimpactx.com before 1 November 2024. Feedback received will be published unless marked as confidential. Upon review of feedback received, CIX will publish a Decision Notice. Should the addition go ahead as proposed, on the day of implementation, CIX will publish an additional Implementation Notice to alert market participants that the change has come into effect.

Please ensure that the appropriate members of staff within your organisation and customers are advised of the content of this market notice.

For any queries on these notices, please reach out to CIX’s support team at +65 3135 162 or email support@climateimpactx.com.