AirCarbon Exchange (ACX), the Singapore-based exchange using blockchain technology to accelerate the efficiency of carbon trading, has completely offset its own emissions from the date of the company’s inception to March 2022 (based on projected emissions), making it the world’s first carbon negative trading platform. No other exchanges, including the main exchanges in London or New York, are currently offsetting their own carbon emissions.
ACX calculated all of the company’s direct and indirect emissions from the last 3 years with the widely used international accounting tool, the Greenhouse Gas (GHG) Protocol (Scopes 1, 2, and 3). Using this data, the company also predicted its emissions in 2022 in order to offset CO2e in advance and become carbon negative.
To offset its carbon emissions until 2022, ACX purchased and retired VCUs (verified carbon units) from C-Quest Capital, a social impact project developer transforming the lives of families in poor communities around the world.
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