Climate Impact X

Climate Impact X (CIX) operates as a global exchange and marketplace for high-quality carbon credits, established in 2021 and headquartered in Singapore. The company emerged from a joint venture between DBS Bank, Singapore Exchange (SGX), Standard Chartered, and Temasek, originating from Singapore's Emerging Stronger Taskforce's Alliance for Action on Sustainability. This strategic collaboration was designed to leverage Singapore's robust financial and legal infrastructure to scale the voluntary carbon market. In 2024, Japan's Mizuho Financial Group joined as an investor, further strengthening CIX's position in Asia.

The founding CEO was Mikkel Larsen, who brought extensive experience from his role as Group Chief Sustainability Officer at DBS and leadership positions at UBS, Citigroup, and KPMG. He played a pivotal role in the task force that led to CIX's formation. In March 2024, Larsen stepped down, and Oi-Yee Choo was appointed the new CEO, effective October 2024. Choo has over two decades of experience in investment banking with firms like UBS, Citigroup, and Morgan Stanley, and was most recently the CEO of the blockchain-based private capital markets exchange, ADDX.

CIX serves a diverse client base, including multinational corporations, institutional investors, project developers, and other organizations seeking to manage their carbon footprints. The business model is centered on providing transparent and reliable platforms for trading carbon credits, generating revenue through transaction-based fees. The company utilizes technologies like satellite monitoring, machine learning, and blockchain to ensure the integrity and quality of the credits traded on its platforms.

The company's offerings are structured into several distinct platforms to cater to different market needs. The **Project Marketplace**, launched in March 2022, allows for the direct purchase of credits from a curated selection of individual nature-based projects. The **CIX Exchange**, which went live in June 2023, facilitates two-way spot trading of standardized contracts, enhancing price transparency and liquidity for large-volume transactions. Additionally, **CIX Auctions** serves as a venue for price discovery of unique or newly issued credits, and **CIX Clear** provides a clearing and settlement service for bilaterally negotiated deals to reduce counterparty risk. Since its inception, CIX has achieved significant milestones, including transacting over two million tonnes of carbon credits across its platforms by October 2023.

Keywords: carbon credits, voluntary carbon market, carbon exchange, climate finance, emissions trading, Singapore, nature-based solutions, carbon offsetting, ESG, sustainable finance, decarbonization, green technology, carbon marketplace, environmental markets, Renewable Energy Certificates, climate solutions, carbon projects, corporate sustainability, price transparency, institutional investors