Climate Impact X (CIX) would like to inform market participants that carbon credits from an additional ten projects, which list C-Quest Capital (CQC) as a project proponent, have been suspended from delivery into the following standard contracts with immediate effect:
- CIX Cookstoves X – Developing Countries Verra (CCX-DV)
- CIX Cookstoves X – Least Developed Countries Verra (CCX-LV)
The additional suspensions follow an update on Verra’s system, which places both CQC projects and projects where CQC is listed under “Multiple Proponents” on hold. Kindly refer to the appendix for a full list of additional projects affected. An earlier market notice setting out impacted projects with CQC as the primary proponent can be found here (MN2024/21).
This Temporary Suspension decision follows a review conducted by CIX to evaluate if the projects’ credits still meet CCX’s qualifying criteria, which was found not to be the case. As per CCX governance protocols, this contract change type is used to urgently suspend credits which no longer meet our eligibility criteria; for example, due to a market event or sudden loss of acceptance.
The projects have been placed under Monitoring Period, during which its credits are not deliverable into all vintages of CCX-DV and CCX-LV standard contracts, including v21-24 and v20-23. In total, all credits from 25 affected projects have been unallocated from the CCX-DV and CCX-LV delivery baskets, and no new credits can be allocated to the contracts until further notice.
CIX will conduct further reviews of the projects’ adherence to CCX’s qualifying criteria. Depending on the outcome, CIX will initiate either a formal and permanent project removal process or a formal addition process to reinstate projects within the contract. In either case, CIX will seek market feedback via a public notice.
CIX welcomes comments on its decision and its processes. These can be sent to pricing@climateimpactx.com.
Please ensure that the appropriate members of staff within your organisation and customers are advised of the content of this market notice.
Appendix
| Contract Code | Project ID | Project Name |
|---|---|---|
| CCX-LV | VCS2340 | Installation of high efficiency wood burning cookstoves in Zambia |
| CCX-LV | VCS2371 | Installation of high efficiency wood burning cookstoves in Zambia – Project 2 |
| CCX-LV | VCS2372 | Installation of high efficiency wood burning cookstoves in Malawi – Project 2 |
| CCX-DV | VCS1720 | ONIL Stoves – Guatemala – CPA 002 |
| CCX-DV | VCS1721 | ONIL Stoves Guatemala Uspantan |
| CCX-DV | VCS1803 | Distribution of ONIL Stoves – Mexico, CPA 002 |
| CCX-DV | VCS2366 | Installation of high efficiency wood burning cookstoves in Tanzania |
| CCX-DV | VCS2523 | Installation of high efficiency wood burning cookstoves in Vietnam |
| CCX-LV | VCS2712 | Distribution of Improved Cook Stoves in Sub- Saharan Africa-Malawi-CPA-006 |
| CCX-LV | VCS2713 | Distribution of Improved Cook Stoves in Sub- Saharan Africa-Zambia-CPA-007 |
