ABU DHABI, UAE and SINGAPORE, Jan. 17, 2024 /PRNewswire/ — ACX Ltd (ACX), the leading environmental Recognised Investment Exchange, associated with its Recognised Clearing House, both regulated by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM), proudly unveils its latest milestone with the inaugural listing of American Carbon Registry (ACR) standard carbon credits on the ACX Carbon Market Board (CMB). The milestone encompasses Rebellion Energy (RES), the first carbon project developer issuing carbon credits under the Plugging Orphaned Oil and Gas Wells Methodology, choosing ACX as its preferred platform for trading and settlement.
ACR is renowned for its rigorous approach to carbon accounting and commitment to driving sustainable practices. By facilitating market access to ACR carbon credits, ACX enhances its role as a key player in advancing accessibility to quality carbon credits globally.
"We are honoured to be the platform of choice for RES in bringing ACR carbon credits to the market. This collaboration strengthens our commitment to providing unparalleled access to high-quality carbon credits. RES’s choice reaffirms our role as the preferred market venue for leading project developers," said William Pazos, co-CEO and co-Founder at ACX.
RES has listed their inaugural ACR project on the ACX CMB, leveraging its robust features for seamless trading and settlement. The decision underscores ACX’s reputation as an efficient venue for esteemed project developers like RES.
"As Rebellion opens this important frontier for real methane-abatement projects, it is important to understand the global market for these ACR-issued credits and to do so in a regulated environment. Listing our credits with ACX is the only viable forum to accomplish those objectives," said Staci Taruscio, Chief Executive Officer at Rebellion Energy Solutions. "We believe these steps we’re taking with this first-of-its kind, orphan-well plugging project are consistent with what it takes to drive greater worldwide demand for high-quality carbon credits that are transparent, have an immediate impact and are socially conscious."
ACX’s dedication to sustainability and innovation is showcased through this collaboration, creating an exchange where environmental responsibility meets cutting-edge methodologies. The platform continues to be an influential force in advancing sustainable practices in the carbon credit trading landscape.
About the ACX Group:
ACX Group, including ACX Abu Dhabi (ACX Ltd and ACX Clearing Corporation Ltd) and AirCarbon Pte. Ltd., which operate environmental trading platforms in Abu Dhabi and Singapore respectively, caters to corporates, financial traders, carbon project developers and other industry stakeholders. ACX Group provides participants with an efficient and transparent trading platform that is user-friendly, seamless and offers the lowest transaction fees in the market. Leveraging distributed ledger technology, ACX facilitates and scales growth of the environmental product markets to align with global ambitions of achieving Net Zero.
ACX Group is proud to be a member of the International Emissions Trading Association (IETA) and the International Sustainability and Carbon Certification (ISCC), further enhancing its commitment to sustainability and responsible trading practices for carbon and other environmental products. ACX Group has garnered international recognition as the Best Carbon Exchange globally in Environmental Finance’s esteemed Voluntary Carbon Market Rankings for three consecutive years (2021, 2022, 2023), solidifying its position as a leader in the industry.
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