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Carbon exchange CIX launches nature-based contract for forest conservation

Singapore-based carbon exchange Climate Impact X (CIX) announced on 23 March 2023 the launch of a nature-based standardised (NBS) contract, which will provide buyers with credits and proceeds that support forest conservation efforts. The CIX Nature X contract will trade under the code ‘CNX’ on its spot trading platform, with eligible projects including rainforests and biodiversity reserves in Asia, Africa, and South America. 

Carbon Exchange CIX Launches Nature-Based Contract for Forest Conservation_visual 1Tropical rainforest with background mountain.

Each lot of CNX represents 1,000 carbon credits, and each credit represents one tonne of reduced or avoided carbon dioxide from verified projects. CIX is a joint venture between banks DBS and Standard Chartered, Singapore Exchange, and Temasek Holdings. The exchange considers project size, recognition by market participants and rating agencies, and the volume of issued and unretired credits when selecting projects for contractual delivery. 

Read more: Xpansiv's annual carbon market review 2022: key takeaways

The eligible projects include the Kasigau Corridor REDD Project in Kenya, the Rimba Raya Biodiversity Reserve Project in Indonesia, and the Cordillera Azul National Park REDD Project in Peru. Carbon offsets, including NBS credits, are increasingly used by polluting companies to compensate for their emissions.

DGB Group is a project developer of high-quality, large-scale carbon and biodiversity projects accredited by leading verification standards. We design and manage reforestation and afforestation projects that restore biodiversity and degraded land and help communities with sustainable development. Our projects generate verified biodiversity and carbon credits to help you reduce your impact on the environment.

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