NovaFori To Provide Online Marketplace Technology For Climate Impact X (CIX), Scaling The Carbon Market To Tackle Global Climate Change

NovaFori has announced that it has been appointed as a technology partner by Climate Impact X (CIX), a global carbon exchange and marketplace to be established by DBS, SGX, Standard Chartered and Temasek.

NovaFori will support CIX in building the Project Marketplace, which will cater to a broad range of corporate buyers looking to buy from a curated selection of premium carbon credit projects, the firm explained in a press release.

The platform will integrate NovaFori's proven marketplace technology with transparent environmental impact, risk, and pricing data from market leading partners in the carbon credit space. The marketplace will showcase verified high-quality carbon reduction and prevention projects and deliver an impactful solution for the voluntary carbon market. NovaFori is well positioned to back CIX's long-term growth strategy, within natural climate solutions and beyond, by enhancing technical functionality and capacity effectively.

Value in the partnership between NovaFori and CIX lies in driving marketplace adoption, uniting buyers and sellers to concentrate demand and optimise supply, significant steps towards successfully scaling the carbon market.

Garry Jones, CEO of NovaFori, commented: “This partnership ensures the development of an impactful marketplace, fostering unprecedented transparency within the carbon market and creating a hub for new sustainable development projects to evolve. Together, NovaFori and Climate Impact X will build a solution for corporations to further their ESG agendas, driving demand to reach Net Zero.”

Mikkel Larsen, Interim CEO of Climate Impact X, added: “NovaFori is an important technology partner, providing expertise on marketplace design and technology. Uniting buyers and sellers on CIX's world-class platform of trusted carbon credits will drive demand and optimise supply, paving the way for an effective scaling of the voluntary carbon market. CIX looks forward to building a transparent marketplace that will drive the global economy's transition towards carbon neutrality by 2050.”