AirCarbon Exchange to host world’s first micromobility carbon credits auction

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April 08, 2022, Brazil & Singapore –

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​AirCarbon Exchange (ACX) will be hosting, later this month, the world’s first micromobility carbon credits auction, in collaboration with Bolsa Verde Rio, Tembici, BlockC and ZCO2.

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“We are honoured to be hosting the initial auction with the City of Rio, Tembici and BlockC,” said ACX’s Co-Founder & Managing Director William Pazos. “It opens a new frontier and allows for the true internationalization of ACX.”

 

The initiative is part of Rio de Janeiro-based Bolsa Verde, a municipality project which seeks to transform the city into a green investment hub. It will see Tembici, a leader in micromobility technology, as the first active mobility company in the world to make carbon credits available for auction in this segment.

 

“Today is a historical day. We want Rio to have a sustainable economic development drive and, for that, we are supporting the stakeholders who are involved with sustainability,” said Rio's Secretary of Economic Development, Innovation and Simplification Chicão Bulhões during the announcement at the Museu de Arte do Rio (MAR) on 30 March 2022. “Our role as a government is to simplify the system and make the population understand that small changes can help fight global warming... We now have the chance to rethink mobility in the city and embrace new opportunities.”

 

Bike Itaú, a bike sharing system managed by Tembici, and sponsored by Itaú Unibanco Bank, has been deploying programs to reduce traffic and improve transport conditions, in famously hectic Rio de Janeiro, for the past 10 years.

 

“Our carbon credits have a great differential because they are generated in the urban environment and in a collaborative way. Therefore, for the auction, we are partnering with organizations that understand the relevance of the subject, believe in the value of green initiatives and take urgent action to safeguard our plant,” said Tembici’s CFO, Leandro Fariello.

 

This innovative type of carbon credits will be issued using the AMS-III.BM calculation methodology developed by the UNFCCC (United Nations Framework Convention on Climate Change). The credits generated by Tembici were calculated by BlockC and ZCO2.

 

“Rio de Janeiro is a strategic location for the auction because it hosts a large number of companies in the so-called ‘hard to abate’ sectors, such as oil & gas and mining,” explained BlockC CEO, Carlos Martins. “These companies need transparent pricing and liquidity to eventually be able to offset their emissions by acquiring carbon credits.”

 

Any company can participate in the auction by bidding to acquire the carbon credits on offer. Firms interested in taking part, must register on the ACX platform to bid.

 

 

Webinar with more details about the auction

For more detailed information on the carbon credits auction process and for any other questions, companies can join a webinar which will be held by Tembici and ACX, on April 13th. To take part, please email: esg@tembici.com

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BACKGROUND

In 2021, CO2 emissions reached their highest level since records began. The scenarios estimated by international organizations are becoming increasingly worrying and irreversible, and highlight the urgent need to quickly reduce the amount of carbon released into the atmosphere.

The carbon market is instrumental to achieving this goal.

It represents a tangible way to help reverse the environmental damage and fight the causes of climate change and it empowers companies and governments to make a difference. It also helps to finance new technologies that foster the transition to a low carbon economy.

The Rio de Janeiro Municipality plans to transform the city into a sustainability investment hub through actions aimed at launching a green stock exchange.