World’s first regulatory framework based in Abu Dhabi for voluntary carbon markets elevates confidence
ABU DHABI, SINGAPORE, October 25, 2023 /EINPresswire.com/ —
• World’s first regulatory framework based in Abu Dhabi for voluntary carbon markets elevates confidence
• First Abu Dhabi Bank (FAB) and Helix Climate conduct first trade on the exchange
• South Pole executes first over-the-counter transaction on Carbon Market Board
ACX (AirCarbon Exchange) proudly announces its exchange and clearing house in Abu Dhabi Global Market (ADGM), ACX Abu Dhabi, is live. Key trades have already been executed and settled on the platform, signifying the commencement of what is anticipated to be a burgeoning market for voluntary carbon markets (VCM).
ACX established its regional base in ADGM in August 2021 with the support of Hub71, Abu Dhabi’s global tech ecosystem. Hub71 is powered by Mubadala Investment Company PJSC (Mubadala), an Abu Dhabi sovereign investor. Mubadala invested in ACX in September 2022 as a strategic step in line with its economic diversification mandate and commitment to responsible investing.
In September 2022, ADGM, the international financial centre of the UAE’s capital that is established as a financial free zone, became the first jurisdiction to regulate voluntary carbon credits as financial instruments through the introduction of an Environmental Instrument…