CIX is pleased to announce that we’ve successfully facilitated our first-ever trade of Puro.earth CO2 Removal Certificates (CORCs)!
The transaction between Alcom and Standard Chartered involved vintage 2023 CORCs from Alcom’s NuevaChar facility in the Philippines, where rice husks are utilised as feedstock for biochar production. hashtag#Biochar is one of the most advanced technology-based carbon removal methods on the planet.
According to the IPCC, carbon removals are essential in all pathways limiting global warming to 1.5°C. Biochar alone could help remove a staggering 1.1 to 3.3GtCO2e per year by 2030.
We’re delighted to have worked with Alcom and Climate Impact X (CIX) to execute this purchase of high-quality carbon removal (CDR) credits using CIX’s clearing platform. Alcom has been issued CDRs under the Puro biochar methodology for the NuevaChar facility in the Philippines, which Standard Chartered has purchased via CIX’s clearing platform. Standard Chartered is pleased to support this first for CIX, which demonstrates our continued support for the developing CDR market and our commitment to global net zero.
With over 1,000 onboarded counterparties globally, CIX Clear expands your access to a deeper pool of buyers and suppliers, while safeguarding counterparty anonymity and minimising risks associated with payment defaults or non-delivery. We accept all valid credits from most international carbon and REC standards, offering one of the most comprehensive post-transaction settlement services in the market today.
For more information on how to use our services, contact us at exchange@climateimpactx.com!
Find solutions tailored to your needs
For Corporate Buyers
Buy and retire verified carbon credits and RECs with flexible procurement and deep market expertise to support sustainability goals.
For Traders & Intermediaries
Enhance trade execution and liquidity through robust market infrastructure and efficient settlement with a broad counterparty network.
For Project Suppliers
Tap into a global network of buyers to secure spot or forward demand, while ensuring fair pricing for carbon credit and REC projects.
This inaugural Biochar credits deal between Alcom and Standard Chartered – using Climate Impact X’s Clear platform has truly put Singapore on the carbon removals world map. Standard Chartered is at the forefront of banking sector engagement in the removals space and we would like to especially thank them for supporting CDR projects in Southeast Asia. We are ramping up our Biochar production activities in the region and look forward to many such transactions in the near future.