ABU DHABI, UAE, SINGAPORE and SAN FRANCISCO, Nov. 15, 2021
ABU DHABI, UAE, SINGAPORE and SAN FRANCISCO, Nov. 15, 2021 /PRNewswire/ -- AirCarbon Exchange (ACX), the world's first fully digital carbon exchange, launched the AirCarbon Household Offset Token (HOT) on November 15th, 2021. Each HOT represents a carbon credit generated from an improved cooking solution project, thereby creating a new benchmark price for such credits.
Only cookstove carbon credits issued under the Gold Standard (GS) or Verified Carbon Standard (VCS) which have been certified to have achieved at least 2 UN Sustainable Development Goals (excluding SDG 13: Climate Action) or have additional VCS Climate, Community & Biodiversity (CCB) certification will be eligible for the HOT.
"We are pleased to launch the Household Offset Token after consultations and the support of industry leaders like Terra Global. We look forward to seeing another ACX contract lead the establishment of a benchmark price in the voluntary carbon markets," said William Pazos, Managing Director and Co-Founder of AirCarbon Exchange.
Eddie Listorti, CEO of Viridios Capital added, "As the market matures, exchanges and standardization will come into play. ACX's new contract will provide an important price signal to the carbon market, and cookstoves in particular."
The HOT contract will provide projects generating cookstove carbon credits a transparent, cost-effective and liquid market. "The Kulera Program in Malawi is thrilled to provide the inaugural cookstove credits to the AirCarbon Household Offset Token. The finance generated through the sales of these tokens will expand access to cookstoves for communities in Malawi, reducing pressure on forests and bringing health benefits and labor saving to women and their families in the Kulera Program," said Leslie Durschinger, Founder and CEO of Terra Global, a partner of the Kulera Program.
About AirCarbon Pte. Ltd.
AirCarbon Exchange ("ACX") is a global exchange revolutionising the voluntary carbon market. The Exchange's client base comprises corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX provides its clients with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest commission fees available on the market. Its underlying technology will allow the carbon market to scale efficiently to meet global ambitions of Net Zero.
Launched in 2019, the Exchange is a hybrid platform with a traditional central order book architecture that will be familiar to all experienced traders. The Exchange also utilises the speed and efficiency of the blockchain to achieve atomic T-0 trade execution, clearing and settlement. The Exchange's core matching engine can currently match trades in the order ~10k per second.
As of May 2021, ACX is the world's first carbon negative exchange, having offset its carbon emissions 12 months into the future (to May 2022) through the Onil Stoves Guatemala Uspantan project. ACX is committed to continuing to offset all of its emissions 12 months forward.