Climate Impact X (CIX) has today launched new daily REDD+ single-project price assessments and differentials to its CIX Nature X (CNX) benchmark. These assessments will cover all projects deliverable into the CNX contracts.

CIX single-project differentials represent the daily premium or discount relative to the day’s CNX assessment. The assessments are “vintage-aligned” with the CNX benchmark. This means that in 2024, the single-project assessments represent the value of v20 credits. On 2 January 2025, the assessments will roll to reflect the value of v21 credits in line with the vintage roll of the CNX benchmark.

CIX single-project outright prices represent the daily outright value of each project’s credits and are also “vintage-aligned” with the CNX benchmark.

Assessments will be made holistically using all information available to the CIX Pricing team, including transactions, bids and offers for individual projects on CIX Exchange, other CIX trading venues and in the over-the-counter (OTC) physical spot market. Priority is typically given to transactions transparently executed on CIX Exchange, as well as to firm, executable bids and offers on the platform.

A price history for these assessments has been backfilled using the monthly price differentials for each project that were previously assessed and publish in the CIX Carbon Daily report.

The CIX Benchmark Methodology Guidebook has been updated to reflect the addition of these single-project price assessments and differentials and can be found here.

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 regarding CIX’s assessments and methodology, please reach out to CIX’s pricing team at pricing@climateimpactx.com.