Singapore and London, 5 December 2023 – Climate Impact X (CIX), a global marketplace, auctions house and exchange for trusted carbon credits, has today unveiled plans to launch a new set of standard tradable contracts to support projected demand for credits approved under the Integrity Council for the Voluntary Carbon Market (ICVCM) Core Carbon Principles (CCP). The physical spot contract will comprise the first issuances of CCP credits expected in 2024.

The CCPs are designed to set a global threshold for high-integrity carbon credits, which will help to elevate confidence in the market and reassure potential buyers and investors, in particular.

Trading of the contract will be enhanced by CIX’s signature daily 30-minute pricing session. Taking place between 17:00-17:30 SGT, this aims to pool all-day liquidity from active carbon markets to help establish a liquid, transparent, market-driven spot benchmark price for CCP credits.

Ellery Sutanto, Head of Exchange at CIX, said, “A transparent, standardised and more efficient market will help to mobilise finance at the speed and scale necessary, and channel funds to projects that need it the most. CIX standard contracts are designed to evolve over time in response to market conditions, ensuring ongoing relevance and contract integrity. As CCP labels are increasingly rolled out, we will also look at transitioning existing contracts as appropriate to reflect this important new benchmark for high- integrity carbon credits.”

Eligible single project instruments listed on CIX Exchange will also carry a CCP label, enabling price discovery on such credits which are expected to trade at a premium. This will be similar to how Article 6 authorisation labels are now reflected alongside qualifying projects on the exchange, as CIX announced via market notice last week.

For more information, please contact:
Daphne Chuah
daphne.chuah@climateimpactx.com