Climate Impact X (CIX) is extending the market consultation period for its proposal to reinstate any cookstoves projects developed by C-Quest Capital (CQC) that are taken off hold and maintain a reverted status of ‘Registered’ on Verra, with effect from 17 March 2025.
The following standard contracts are impacted:
- CIX Cookstoves X – Developing Countries Verra (CCX-DV)
- CIX Cookstoves X – Least Developed Countries Verra (CCX-LV)
This announcement follows the proposal published on 21 October, under which the projects will be deliverable across all vintages of CCX-DV and CCX-LV contracts, including v20-23, v21-24, and v22-25, which will begin trading on 2 January 2025. CIX seeks further feedback on this proposal from market participants.
The proposal follows Verra’s announcement that the registry has completed quality control reviews of 22 of the 26 cookstoves projects developed by CQC. Verra determined that CQC must compensate for the excess issuances of the affected projects. Accordingly, CQC requested, and Verra has processed, the cancellation of the Verified Carbon Units (VCUs).
Market participants may provide feedback to pricing@climateimpactx.com before 31 January 2025. 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 this notice, please reach out to CIX’s support team at +65 6990 7518 or email operations@climateimpactx.com.
