Carbon Offset Certification is a new partner of UAE exchange
30 May 2023 11:50
ACX Ltd, the Abu Dhabi-based global emissions trading exchange, is aiming to support its members in their efforts to achieve carbon neutrality with the help of Carbon Offset Certification (COC). The certification protocol, which is backed by the Geneva-based firm CN Commodity, offers verification for environmental claims with regard to commodity transactions, products and services.
Through the partnership with COC, ACX members operating in areas such as commodities, aviation and shipping can benefit from the targeted COC approach to their respective sectors, further details of which can be found in a press release issued by the exchange operator Aircarbon Exchange Group. In this way, the aim is to enhance the credibility of their environmental claims.
According to the press release, this approach involves calculating the carbon footprint based on recognized greenhouse gas accounting standards, before having the results verified by a qualified verification body and mitigating emissions through high-quality carbon credits, which companies are able to purchase and retire through emissions trading organizations such as ACX.
For Henri-Jean Bardon, Director of the ACX biofuels platform, transparency is particularly crucial due to the fact that ACX is expanding both in geographical terms and with regard to its product portfolio. For this reason, the collaboration with the Carbon Offset Certification initiative represents “a key step in this direction”.
According to Paul Sébastien, CEO of Carbon Offset Certification, efficient access to the CO2 market is vital for companies, as the demand for carbon offset certified products and services is rapidly on the rise. “COC is thrilled to collaborate with ACX, the leading global carbon exchange, to facilitate companies’ journey to decarbonation”, he states. ce/mm