AirCarbon Exchange announces expansion with appointment of Director, Americas
AUGUST 24 2021, SINGAPORE, LONDON, HONG KONG & TORONTO -
AirCarbon Exchange (ACX), the world’s first fully digital exchange for voluntary carbon credits with real-time trading and settlement, is pleased to announce and welcome carbon market pioneer Corinne Boone as Director, Americas. In this role, Corinne will be responsible for strategising and implementing ACX’s expansion into the Americas, with an initial focus on Canada.
Corinne is the current Board Chair of the Canadian Energy Research Institute, a Director of EfficiencyOne and the Halifax Climate, Investment, Innovation and Impact Fund, and as ACX’s new Director, Americas, brings 30 years of experience in climate markets and energy finance to the role.
The Canadian carbon market is expected to develop rapidly in the coming years. During the Climate Summit hosted by US President Joe Biden in April of this year, Prime Minister Justin Trudeau stated that Canada will reduce its GHG emissions by 40-45% below 2005 levels by 2030 – a significant increase above its earlier target of 30%, made under the Paris Agreement.
The Government of Canada (GOC) has also pledged to achieve Net Zero by 2050. The GOC has established a minimum carbon price which currently sits at C$40/tonne and will increase to C$50/tonne in 2022 and by C$15/year thereafter up to C$170/tonne in 2030. This price will be used as a backstop for provinces that do not implement a carbon pricing system (carbon tax or cap and trade) as a central part of efforts to meet GHG emission limits.
Bill Pazos, Managing Director and Co-Founder of AirCarbon Exchange said: “We are thrilled to add someone of Corinne’s calibre to the AirCarbon team. She brings a wealth of knowledge and experience in the carbon markets and will undoubtedly be a strong asset as we continue to expand our business. We believe the Canadian carbon markets are poised to grow exponentially over the coming years. Canada, at the provincial and federal levels, represents a very interesting basis for a vibrant marketplace, and we are keen to bring our established infrastructure to help scale the market by providing transparency and low transaction costs.”
Corinne Boone, incoming Director, Americas at AirCarbon Exchange added: “The expansion of ACX into Canada represents a huge opportunity for increased access, volume and transparency in the developing Canadian offset market to contribute to Canada meeting its stated GHG commitments. I am so excited to lead this initiative as well as AirCarbon’s broader expansion into the Americas and am looking forward to rolling these out to their full potential.”
About AirCarbon Exchange
AirCarbon Exchange ("ACX") is a global exchange revolutionising the voluntary carbon market. The Exchange currently has a 130-strong client base comprised of corporate entities, financial traders, carbon project developers, and other industry stakeholders. ACX provides its clients with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest commission fees available on the market.
Launched in 2019, the Exchange is a hybrid platform with a traditional central order book architecture that will be familiar to all experienced traders. The Exchange also utilises the speed and efficiency of the Binance Smart Chain public blockchain to achieve atomic T-0 trade execution, clearing and settlement. The Exchange’s core matching engine can currently match trades in the order ~10k per second.
As of May 2021, ACX is the world’s first carbon negative exchange, having offset its carbon emissions 12 months into the future (to May 2022) through the Onil Stoves Guatemala Uspantan project. ACX is committed to continuing to offset all of its emissions 12 months forward.
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