Climate Impact X (CIX) would like to inform market participants that carbon credits from the Southern Cardamom REDD+ Project (VCS 1748) in Cambodia have been suspended from delivery into the CIX Nature X (CNX) standard contract with immediate effect.

This Temporary Suspension decision follows a review conducted by Climate Impact X (CIX) to determine whether the project’s credits still meet the contract’s eligibility criteria, which was found not to be the case. CNX’s eligibility criteria can be found here.

The project has been placed under Monitoring Period, during which its credits are not deliverable into all vintages of CNX standard contracts, including v16-19, v17-20, v18-21 and v19-22.

For impacted clients, all open orders on CNX will be cancelled with immediate effect – there is no further action required from you at this stage. All credits from the Southern Cardamom REDD+ project have been unallocated from the CNX delivery basket, and no new credits can be allocated to the contracts until further notice.

CIX will conduct further reviews of the project’s adherence to CNX’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 the project within the contract. In either case, CIX will seek market feedback via a public notice.

Southern Cardamom REDD+ continues to be tradable as single project instruments on CIX Exchange and accepted for CIX Clear.

9 projects are currently deliverable into CNX standard contracts:

• Rimba Raya Biodiversity Reserve Project, Indonesia (VCS 674)
• The Mai Ndombe REDD+ Project, Democratic Republic of the Congo (VCS 934)
• Cordillera Azul National Park REDD Project, Peru (VCS 985)
• REDD in Tambopata National Reserve and Bahuaja-Sonene National Park, Brazil (VCS 1067)
• The Envira Amazonia Project – A Tropical Forest Conservation Project in Acre, Brazil (VCS 1382)
• Katingan Peatland Restoration and Conservation Project, Indonesia (VCS 1477)
• REDD+ Project for Caribbean Guatemala: The Conservation Coast, Guatemala (VCS 1622)
• Reduced Emissions from Deforestation and Degradation in Keo Seima Wildlife Sanctuary, Cambodia (VCS 1650)
• Rio-Anapu Pacaja REDD Project, Brazil (VCS 2252)

An additional project will become deliverable from 2 January 2024:

• Resguardo Unificado Selva de Mataven REDD+ Project (VCS 1566)

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.