ACX Group and Natural Capital Credit Consortium Sign a Collaboration Agreement on Carbon Market in Japan
The General Incorporated Association Natural Capital Credit Consortium (NCCC) enters into a partnership with AirCarbon Exchange (ACX) to further develop the Voluntary Carbon Market in Japan.
April 12, 2023, Japan, Abu Dhabi, Singapore –
Natural Capital Credit Consortium (hereinafter NCCC) has signed a Memorandum of Understanding with AirCarbon Exchange (ACX) to collaborate on accelerating Japanese companies’ decarbonization strategy and expanding the current carbon ecosystem in Japan.
Professor Shunsuke Managi, Chair of the Natural Capital Credit Consortium, said: “This MOU outlines our plans to establish a new trading scheme for carbon farming, blue ocean industries, and infrastructure within Japan and internationally. In addition to existing markets, we aim to create a new framework for determining the most effective combination of technologies to reduce emissions.”
“By developing a better understanding of how to mitigate emissions, we can establish a new mechanism for registering carbon credits. Furthermore, we plan to collaborate on carbon trading through the exchange in Singapore. We look forward to jointly developing and implementing a methodology for carbon trading that aligns with our shared goals.”
NCCC is a Japan-based alliance that brings companies, municipalities, and academic researchers together to revitalize Japan’s carbon credit market through the utilization of its forests and other resources to create carbon credits. The main objectives of the alliance are to create voluntary credits and develop carbon markets by advancing the implementation of tools and technologies contributing to faster and more efficient credit creation and resolving issues local agriculture, forestry, and other sectors are facing.
Akihiro Nishimura, Japan’s Minister of the Environment, said: “Climate change is a major global issue, and Japan has set a goal of becoming carbon neutral by 2050, making strong efforts to promote Green Transformation (GX). In this context, interest in carbon markets has been growing year by year, as demonstrated by the start of the carbon credit market on a trial basis last year.
The consortium's initiative is very timely, as it aims to solve regional issues by utilizing natural capital resources such as farmland and forests, and by generating carbon credits through the absorption of CO2.
By utilizing the natural capital of the region, the consortium will contribute to the 'Kunming-Montreal Biodiversity Framework,' which was adopted at the 15th Conference of the Parties to the Convention on Biological Diversity last year. This will also support the 2030 Nature Positive targets established at the same conference.”
The partnership with ACX, the leading carbon exchange platform, will open up Japanese companies to ACX’s international client orderbook, allowing buyers and sellers, international and domestic, to transact efficiently and transparently.
Thomas McMahon, Co-Founder and Co-CEO of ACX Group, said: “We are honoured to be partnering with the Natural Capital Credit Consortium to further expand Japan’s voluntary carbon market. We look forward to collaborating with the NCCC in this important and timely initiative towards Net Zero.”
ACX operates a digital trading platform on which carbon and other environmental credits are made available for trading in the form of digital receipts. The exchange is fast expanding around the world and is involved in the development of carbon markets in the Middle East, Brazil, India, Indonesia as well as this latest expansion into Japan. ACX will shortly launch the first regulated carbon exchange in Abu Dhabi.
Left: Professor Shunsuke Managi, Chair of the Natural Capital Credit Consortium,
Right: Thomas McMahon, Co-Founder and Co-CEO of ACX
About the Natural Capital Credit Consortium:
The NCCC aims to create a decarbonized society through the rolling out of an effective carbon market in Japan. The consortium, which is made up a wide range of Japanese companies, is targeting sustainable economic growth and social affluence by creating voluntary carbon credits using Japanese natural capital, such as forests and farmland, in cooperation with the relevant industries. It also aims to build an Asia-Pacific version of a carbon credit market.
About AirCarbon Exchange (ACX) Group:
AirCarbon Group ("ACX") includes ACX Technologies which provide technology services to ACX Exchange and Clearing House which hosts clients comprising of corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX Exchange provides its participants with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest transaction fees available on the market, and is intending to launch its fully regulated Exchange and Clearing House in Abi Dhabi Global Market in 2023 Its underlying distributed ledger technology will allow the carbon market to scale efficiently to meet global ambitions of Net Zero.
ACX Group was recognized as the Best Carbon Exchange globally in Environmental Finance's prestigious Voluntary Carbon Market Rankings, the largest and most closely watched survey of the world's Voluntary Carbon Market, for two consecutive years (2021, 2022). ACX Group was also named as the ‘Best Solution in Energy Trading’ by Wired UK and Publicis Sapient at their Global EnergyTech Awards, which spotlighted the companies that are ‘Winning the Race to Reinvent Energy’. For more information, please reach out to info@AirCarbon.co or visit www.aircarbon.co
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