CIX confirms retaining of current CAX-C methodology to exclude credits from withdrawn projects

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  • Following market consultation, Climate Impact X (CIX) has made the decision to retain the current methodology for its CIX ARR X – China (CAX-C) standard contract. This methodology excludes credits from projects withdrawn from Verra’s Verified Carbon Standard (VCS) Programme or Climate, Community and Biodiversity (CCB) certification from delivery eligibility.

    The decision follows a proposal notice (MN2024/16) and public consultation that ran from 8 May 2024 and can be found here. Market feedback received during the consultation period was supportive of the decision.

    This means that Chinese ARR projects with a withdrawn VCS or CCB certification status will remain undeliverable into the CAX-C standard contract.

    Based on contract specifications and as of 18 June 2024, the list of projects that are deliverable into the standard contract is as follows:

    • Qianxinan Afforestation Project in Guizhou Province (VCS 1847)
    • Hechu Afforestation Project in Anhui Province (VCS 1855)
    • Xiguan Afforestation Project in Guizhou Province (VCS 1865)
    • Hunan Northern and Northwestern Area Afforestation Project (VCS 1896)
    • Guinan Afforestation Project (VCS 2070)
    • Liangdu Afforestation Project (VCS 2083)
    • Zhangye City Afforestation Project in Gansu Province (VCS 2370)
    • Jilin Sanchazi Afforestation Project (VCS 2375)
    • Gansu Tianshui Afforestation Project (VCS 2391)
    • Gansu Dingxi Afforestation Project (VCS 2405)
    • Gangsu Lanzhou Afforestation Project (VCS 2418)
    • Shanxi Loufan Afforestation Project (VCS 2451)
    • Yunnan Qiubei Afforestation Project (VCS 2565)
    • Henan Yiyang Afforestation Project (VCS 2652)
    • Wuwei City Afforestation Project in Gansu Province (VCS 2745)

    Comments, questions or feedback 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.

  • Climate Impact X (CIX) has today launched new daily price benchmarks reflecting the spot value of Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) Eligible Emissions Unit over time.

    The new assessments include CIX CORSIA X (CIX assessment code: CP00001) and CIX CORSIA Phase 1 X – Global Market (CP00002). Both assessments will reflect the most competitive daily spot value for immediate delivery of CORSIA Eligible Emissions Units as defined by the International Civil Aviation Authority (ICAO).

    These assessments will be further informed by standard contracts to be launched on CIX Exchange in the coming months. In the meantime, CIX Exchange members are already able to post live and firm bids and offers for individual projects that qualify as CORSIA Eligible Emissions Units for the 2024-2026 Compliance Period (First Phase), such as projects under the Architecture for REDD+ Transactions’ (ART) – The REDD+ Environmental Excellence Standard (TREES) – programme.

    CIX CORSIA Phase 1 X – Global Markets (CP00001) will track the daily spot value of CORSIA Eligible Emissions Units specifically for the 2024-2026 Compliance Period (First Phase).

    Both assessments will have the same value until the time when the next phase of the CORSIA scheme becomes more actively traded and relevant, at which point CIX CORSIA X (CP00001) will roll to reflect the new yet-to-be-launched assessment reflecting CORSIA Eligible Emissions Units in the following compliance period.

    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 will be given to transactions transparently executed on CIX Exchange and to firm, executable bids and offers on CIX Exchange.

    The CIX Benchmark Methodology Guidebook has been updated to reflect the addition of these CORSIA price assessments and can be found at the following link here.

    These new assessments will be published in CIX Intelligence products, including the CIX Carbon Daily report and via other data delivery methods. To report information for use in CIX assessments, please contact pricing@climateimpact.com.

    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 3135 1620 or email support@climateimpactx.com.

  • Climate Impact X (CIX) would like to inform members and other market participants that the CIX Operating Procedures have been updated with immediate effect.

    The clauses that have been updated are as follows:

    CIX Operating Procedures

    ClauseAmendments
    Part E (CIX Clear)Updated Clauses 1 and 6 to reflect an extension of CIX Clear operating hours from 9:00am to 12:00am SGT (GMT+8) for acceptance of Cleared Transaction and issuance of Transaction Confirmation
    Appendix III – Schedule of FeesUpdated transaction fees for CIX Clear to reflect a minimum fee of USD75 per side if the total transaction size is less than 5,000 tonnes or MWh

    The summary of changes is also documented on the last page of the Operating Procedures, under the section ‘Document Revision History’.

    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 3135 1620 or email support@climateimpactx.com.

  • Climate Impact X (CIX) has approved a new registry to CIX Clear, the clearing and settlement service for privately negotiated transactions.

    With immediate effect, credits issued and verified under the Architecture for REDD+ Transactions’ (ART) The REDD+ Environmental Excellence Standard (TREES) are available for clearing and settlement via CIX Clear.

    The CIX Operating Procedures has also been updated to incorporate the approved registry and permissible products under CIX Clear which can be found here.

    CIX Clear accepts only verified credits from pre-approved voluntary credits crediting certification programmes, as part of a single-project, multi-project or portfolio transaction. Other approved programmes include American Carbon Reserve, Carbon Standards International, Climate Action Reserve, EcoRegistry, Evident, Gold Standard, Puro.earth and Verra’s Verified Carbon Standard.

    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 3135 1620 or email support@climateimpactx.com.

    About Architecture for REDD+ Transactions

    The Architecture for REDD+ Transactions (ART) is a global initiative that seeks to incentivise governments to reduce emissions from deforestation and forest degradation (REDD), as well as restore forests and protect intact forests (+). ART provides a credible standard and rigorous process to transparently register, verify, and issue REDD+ emission reduction and removal credits that ensure environmental and social integrity. For more information, please visit https://www.artredd.org/.

  • Climate Impact X (CIX) is proposing to change the methodology for its CIX ARR X – China (CAX-C) Standard Contract along with the methodology for its associated benchmark assessment. This change will allow credits from projects withdrawn from Verra’s Verified Carbon Standard (VCS) or Climate, Community & Biodiversity (CCB) Standards to be eligible for delivery, as long as the issued credits remain tagged with a CCB label.

    The proposed new methodology would read: “CAX-C is designed to deliver ARR projects that are registered as part of Verra’s Verified Carbon Standard (VCS), domiciled in China and have Verra’s Climate, Community & Biodiversity (CCB) status. Chinese ARR projects holding either a VCS Standard or CCB certification status that are on hold by Verra will not be deliverable into CAX-C until the standard or certification status is restored. Projects with a VCS Standard or CCB certification status that is withdrawn will be deliverable as long as the issued credits remain tagged with the CCB label.”

    The proposal follows the voluntary withdrawal of several China ARR projects from the Verra registry, which has reduced qualifying volume for the contract.

    Market participants may provide feedback to pricing@climateimpactx.com before 8 June 2024. Feedback received will be published unless marked as confidential. Upon review of feedback received, CIX will publish a Decision Notice. Should the methodology change 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.

  • Following the decision notice (MN2024/07) and public consultation (MN2024/04) that ran from 2 February to 4 March 2024, Climate Impact X (CIX) confirms the reinstatement of the Kasigau Corridor REDD Project Phase II – The Community Ranches (VCS 612) to the list of projects deliverable into the nature-based standard contract CIX Nature X (CNX), with immediate effect.

    The project is now deliverable across all vintages of CNX standard contracts, including v16-19, v17- 20, v18-21, v19-22, and v20-23.

    Eleven projects are currently deliverable into the standard contract:

    • The Kasigau Corridor REDD Project Phase II – The Community Ranches, Kenya (VCS 612)
    • 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)
    • Resguardo Unificado Selva de Mataven REDD+ Project, Colombia (VCS 1566)
    • 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)

    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 3135 1620 or email support@climateimpactx.com.

  • Climate Impact X (CIX) would like to inform members and other market participants that single project symbols of nature-based contracts on the CIX client and trading portal will be updated effective 22 April 2024. Specifically, single project symbols on CIX Exchange will now reflect a standardised format consisting of the registry standard, project ID, and vintage start year of the project.

    Kindly refer to the appendix below for the full list of updates.

    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 3135 1620 or email support@climateimpactx.com.

    Appendix

    Project nameExisting symbolNew symbol
    Alto Mayo Conservation InitiativeAMYOVCS944
    Bale Mountains Eco-region REDD+ projectBALEVCS1340
    COMACO Landscape Management ProjectCOMAVCS1532
    REDD+ Project for Carribbean Guatemala: The Conservation CoastCONCVCS1622
    Cordillera Azul National Park REDD ProjectCORDVCS985
    Delta Blue Carbon – 1DBC1VCS2250
    The Envira Amazonia Project – A Tropical Forest Conservation Project in Acre, BrazilENVAVCS1382
    Florestal Santa Maria ProjectFLORVCS875
    ‘Guanare’ Forest Plantations on degraded grasslands under extensive grazingGUANVCS959
    Guoluo Grassland Sustainable Management ProjectGUOLVCS2458
    Huadu Afforestation ProjectHUADVCS2379
    JARI/AMAPA REDD+ ProjectJAMAVCS1115
    The Kasigau Corridor REDD Project – Phase II The Community RanchesKAS2VCS612
    REDD in Keo Seima Wildlife SanctuaryKEOSVCS1650
    Kulera Landscape REDD+ Program for Co-Managed Protected Areas, MalawiKLRAVCS1168
    Kariba REDD+ projectKRBAVCS902
    Katingan Peatland Restoration and Conservation ProjectKTGNVCS1477
    Luangwa Community Forests ProjectLGWAVCS1775
    Madre de Dios Amazon REDD ProjectMADDVCS844
    REDD+ Project Resguardo Indigena Unificado Selva de Mataven (RIU SM)MATAVCS1566
    The Mai Ndombe REDD+ ProjectMNDBVCS934
    Northern Kenya Grassland ProjectNKGRVCS1468
    Ntakata Mountains REDDNTAKVCS1897
    REDD project in Brazil nut concessions in Madre de Dios, PeruNUTCVCS868
    ADPML PORTEL-PARA REDD Project (Pacajai)PACJVCS981
    Qianbei Afforestation ProjectQNBEVCS2082
    Qianxinan Afforestation Project in Guizhou ProvinceQNXNVCS1847
    Rimba Raya Biodiversity Reserve ProjectRAYAVCS674
    Rio Anapu-Pacaja REDD ProjectRIOAVCS2252
    Southern Cardamon REDD+ ProjectSCARVCS1748
    REDD in Tambopata National Reserve and Bahuaja-Sonene National Park in Madre de Dios, PeruTMBPVCS1067
    Forest Management to reduce deforestation and degradation in Shipibo Conibo and Cacataibo Indigenous communities of Ucayali regionUNIKVCS1360
    UNITOR REDD+ ProjectUNTRVCS2508
    Zhangye Improved Grassland Management ProjectZHYEVCS2748

  • Climate Impact X (CIX) has approved two new registries to CIX Clear, the clearing and settlement service for privately negotiated transactions.

    With immediate effect, issued and verified credits by the approved standards under EcoRegistry and validated C-Sinks under Carbon Standards International are available for clearing and settlement via CIX Clear.

    The CIX Operating Procedures have also been updated to incorporate the approved registries and permissible products under CIX Clear which can be found here.

    CIX Clear accepts only verified credits from pre-approved voluntary credits crediting certification programmes, as part of a single-project, multi-project or portfolio transaction. Other approved programmes include American Carbon Reserve, Climate Action Reserve, Evident, Gold Standard, Puro.earth and Verra’s Verified Carbon Standard.

    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 3135 1620 or email support@climateimpactx.com.

    About Carbon Standards International

    At Carbon Standards, we’re at the forefront of shaping a sustainable future by setting carbon standards for biochar production and ensuring its quality (EBC, WBC). We also encompass carbon sinks with multiple methodologies (EBC C-Sink, Global Artisan C-Sink, Global Tree C-Sink). Whether you’re involved in industrial or artisanal biochar, we’ve got you covered. Moreover, with our World-Climate Farm Tool, we offer a comprehensive solution for calculating the carbon footprint of farms and their corresponding products. Join us as we set the standards for a greener tomorrow. For more information, please visit https://www.carbon-standards.com/en/home.

    About EcoRegistry

    EcoRegistry is dedicated to advancing climate action through technological innovation. Their platform offers scalable digital solutions that empower global efforts to combat climate change. From registration platforms ensuring secure data for environmental asset issuance, to accounting systems ensuring traceability of environmental commodities, and tracking systems for monitoring a country’s commitments to the Paris Agreement, EcoRegistry’s innovative tools drive tangible progress towards a sustainable future. For more information, please visit www.ecoregistry.io.

  • Climate Impact X (CIX) would like to inform members and other market participants that the list of projects eligible for delivery into CIX ARR X – China (CAX-C) has been updated with immediate effect. CAX-C is part of CIX’s first carbon removals contract series to launch on CIX Exchange.

    Deactivated

    The CAX-C contract specification stipulates that projects must be registered with Verra’s Verified Carbon Standard (VCS) and Community and Biodiversity (CCB) standards to be deliverable into CAX-C. Following changes in the certification and project status of Qianbei Afforestation Project, the project is no longer eligible for delivery into CAX-C. Please note that vintage eligibility for delivery into CAX-C still applies.

    Project NameProject ID
    Qianbei Afforestation ProjectVCS2082

    Please ensure that the appropriate members of staff within your organisation and customers are advised of the content of this notice.

    For any queries on this notice, please reach out to CIX’s support team at +65 3135 1620 or email support@climateimpactx.com.

  • Climate Impact X (CIX) would like to inform members and other market participants that the list of projects eligible for delivery into CIX ARR X – China (CAX-C) has been updated with immediate effect. CAX-C is part of CIX’s first carbon removals contract series to launch on CIX Exchange.

    Deactivated

    The CAX-C contract specification stipulates that projects must be registered with Verra’s Verified Carbon Standard (VCS) and Community and Biodiversity (CCB) standards to be deliverable into CAX-C. Following changes in the certification and project status of Huadu Afforestation Project, the project is no longer eligible for delivery into CAX-C. Please note that vintage eligibility for delivery into CAX-C still applies.

    Project NameProject ID
    Huadu Afforestation ProjectVCS2379

    Please ensure that the appropriate members of staff within your organisation and customers are advised of the content of this notice.

    For any queries on this notice, please reach out to CIX’s support team at +65 3135 1620 or email support@climateimpactx.com.