01 Mar 2022

Joint Venture between Singapore Exchange, DBS Bank Ltd, Standard Chartered PLC and Temasek Holdings (Private) Limited to develop a carbon exchange and marketplace, Climate Impact X

Partners Sandy Foo, Favian Tan, and Kala Anandarajah from Rajah & Tann Singapore are acting for Singapore Exchange Limited in its joint venture with DBS Bank Ltd, Standard Chartered PLC and Temasek Holdings (Private) Limited to develop Climate Impact X, which is envisioned to be a carbon exchange and marketplace to provide organisations with high-quality carbon credits to address hard-to-abate emissions. 

An initiative born out of Singapore’s Emerging Stronger Taskforce’s Alliance for Action (AfA) on Sustainability and headquartered in Singapore, CIX will use satellite monitoring, machine learning and blockchain technology to enhance transparency, integrity and quality of carbon credits. The AfA aims to position Singapore as a hub for carbon-related services and nature-based solutions.

This joint venture is an initiative to take climate action and address climate change by empowering corporations to take effective action and complement carbon reduction efforts as part of a holistic climate mitigation strategy. Featuring carbon credits from high-quality Natural Climate Solutions (NCS) projects worldwide on its platforms, CIX uses technology, rating, and price transparency to address some key concerns on carbon trading and raise the bar for carbon exchange.

The platform comprises The Exchange, a digital platform that enables buyers and suppliers to trade large volumes of high-quality credits, and the Project Marketplace, a digital platform which aims to accelerate the corporate sector’s ability to take climate action through the provision of verified carbon projects and offers a curated selection of high-quality carbon credits that can meet corporate sustainability objectives.