This month, ACX Brazil, the subsidiary of Singapore’s AirCarbon Exchange (ACX), is set to trade millions of tons of new carbon credits in the country as a result of work that began in 2022, when the company opened its office in Rio de Janeiro and held the world’s first carbon credit auction linked to micromobility, for Brazilian bike-sharing company Tembici.
ACX’s plans gained new momentum a few months ago when it entered into a BRL 10 million (USD 2 million) partnership with B3, the operator of Brazil’s main stock exchange.
ACX currently has more than 200 companies from 31 countries as clients. By entering its platform, a Brazilian carbon credit is automatically made visible in all other markets in which ACX operates.
“We are not just providing software [for a transaction], we are creating an integrated market. If a carbon credit is for sale in Brazil, it will also be for sale in Abu Dhabi, Singapore, and our partners, such as the Athens Stock Exchange (ATHEX) and the Indonesian Stock Exchange (IDX), because all ACX platforms are connected to our network, where our partners are,” William Pazos, co-CEO and co-founder of ACX, tells The Brazilian Report.
Without revealing numbers or names, he says that the transactions expected to take place on the Brazilian platform will make it the company’s second-largest operation....
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