Renewable Energy Token (“RET”) introduced and traded on the Singapore based AirCarbon Pte Ltd (“ACX”)
February 18, 2021, SINGAPORE, SEOUL, SYDNEY & NEW YORK --
ACX is the world’s first fully digital exchange for environmental products and voluntary carbon offsets.
Real-Time Trading & Streamlined Settlement.
Lowest fees in the market.
RETs are backed by carbon credits generated by renewable energy projects inclusive of vintages excluded from CORSIA by ICAO.
Traditional commodities architecture for the carbon markets is the hallmark of the ACX value proposition.
ACX introduced the Renewable Energy Token (RET) on February 17th, 2021. The contract is backed by an equivalent ton of carbon emission reductions generated by renewable energy projects that have been verified and issued by internationally recognized verification standards. The RET will provide a benchmark price for carbon credits from the first Kyoto Phase and others generated by renewable energy projects.
YC Consultants, a carbon consultancy service based in Taiwan, and Viridios Capital, based in Australia, have transacted the first RET at a price of U$0.70/tCO2e.
YC Consultant’s COO, Ms Dora Yen said that, “We are delighted to work with AirCarbon for the first ever RET transaction.”
Viridios Capital’s COO, Mr Geoff Clear said, “The RET underlines the value that remains in pre-CORSIA renewables and we are happy to have facilitated the first transaction in this new instrument.”
Bill Pazos, COO and Co-Founder of ACX said, “Some renewable energy carbon credits are excluded from the CORSIA standard due to vintage restrictions. These credits remain a broadly traded asset class. The RET streamlines the trading of non-CORSIA eligible renewable credits generated by carbon mitigating projects certified by established registries. This is another important milestone for ACX to become a global carbon trading hub that eliminates market friction in a carbon-constrained economy.”
ACX allowed for two geographically separate entities to transact eliminating all transaction impediments. The transaction settled instantly without the requirement of a VERPA. Each party in the transaction had immediate settlement with full transparency.
About AirCarbon Exchange
AirCarbon Exchange ("AirCarbon") is a Singapore-based Commodities Exchange that brings traditional commodities trading infrastructure in the form of a central order book to the carbon markets. AirCarbon also leverages distributed ledger technology to reduce latency and cost associated with clearing and settlement while simultaneously increasing transparency. AirCarbon integrates with technologies across the commodities trading industry to attach Carbon Offsets to trades allowing any commodity to be quickly carbon neutral.
For more information or to trade carbon, please visit: https://www.aircarbon.co/
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