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ACX Announces Key Trades on World's First Regulated Carbon Exchange and Clearing House in ADGM
In September 2022 , ADGM, the international financial centre of the UAE's capital that is established as a financial free zone, became the first jurisdiction to regulate voluntary carbon credits as financial instruments through the introduction of an Environmental Instrument classification, a regulatory framework to license exchanges and clearing houses for both spot and derivatives markets for these products.
In November 2022 , ACX Abu Dhabi became the first entity to be licensed under this framework, being the world's first regulated Recognised Investment Exchange and Recognised Clearing House offering Environmental Instruments in the form of carbon credits.
These regulatory licenses bolstered trust, security, and investor protection for the trading of carbon credits by mandating fair and orderly trading and real-time market surveillance, resulting in heightened market integrity, transparency and efficient price discovery. ACX strictly adheres to client asset segregation, regulatory capital and audit requirements.
With investment secured and regulatory licenses approved, ACX laid the groundwork to allow VCM participants, for the first time, to trade carbon credits and other environmental instruments under a capital markets regulatory framework.
The inaugural carbon credits trade on the fully regulated exchange was executed between First Abu Dhabi Bank (FAB) and specialist carbon trading company Helix Climate.
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This follows a report launched by FAB in January 2023 which explored the possibilities to seize opportunities in carbon trading as a way to fight climate change while providing flexibility for businesses in how they reduce their environmental impact.
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Further enhancing its portfolio, ACX Abu Dhabi is also pleased to announce the first trade on its Carbon Market Board (CMB) – an electronic trading facility that allows participants to execute and settle over-the-counter transactions. The trade was concluded with South Pole, the world's leading climate project developer and solutions provider.
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Last month, ACX Group was awarded the best carbon exchange of 2023 by Environmental Finance. This is the third consecutive year that ACX wins this prestigious award, a valuable recognition of its ability to innovate and trigger positive change in this vital field.
ACX (AirCarbon Exchange) Group, including ACX Abu Dhabi (ACX Ltd) and AirCarbon Pte. Ltd., which operate environmental trading platforms in Abu Dhabi and Singapore respectively, caters to corporates, financial traders, carbon project developers and other industry stakeholders. ACX Group provides participants with an efficient and transparent trading platform that is user-friendly, seamless and offers the lowest transaction fees in the market. Leveraging distributed ledger technology, ACX facilitates and scales growth of the environmental product markets to align with global ambitions of achieving Net Zero.
ACX Group is proud to be a member of the International Emissions Trading Association (IETA) and the International Sustainability and Carbon Certification (ISCC), further enhancing its commitment to sustainability and responsible trading practices for carbon and other environmental products. ACX Group has garnered international recognition as the Best Carbon Exchange globally in Environmental Finance's esteemed Voluntary Carbon Market Rankings for three consecutive years (2021, 2022, 2023), solidifying its position as a leader in the industry.
For more information, please contact info@acx.net or visit www.acx.net.
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