Capital markets technology and exchange company Nasdaq announced a new strategic technology partnership with carbon exchange and marketplace Climate Impact X (CIX). Under the new partnership, aimed at unlocking price transparency and liquidity in the voluntary carbon markets, Nasdaq will provide its matching technology to power CIX’s upcoming spot exchange for carbon credits. Singapore-based CIX was launched last year through a joint venture between DBS, Singapore Exchange (SGX), Standard Chartered and Temasek, aimed at offering distinct platforms and products that cater to the needs of different buyers and sellers, leveraging satellite monitoring, machine learning and blockchain technology to enhance the transparency, integrity and quality of carbon credits. The exchange offers access to nature-based solutions that protect, restore and grow natural ecosystems such as forests, mangroves and coastal habitats.

The spot exchange, expected to launch in early 2023, will be CIX’s third platform. The Nasdaq partnership aims to address one of the key challenges of the carbon exchanges of matching buyers and sellers with unique requirements for carbon credits, which may have a wide range of attributes, such as project type or location, that can influence value.

Source: ESGToday