ACX Executes its First Regulated Carbon Trades, Verra launch Public Consultation on Non-Native Monoculture Requirement, Patch Integrates Puro Registry, more...

VCM Vibes and Vices

Headlines

• ACX Executes its First Regulated Carbon Trades

• Verra launch Public Consultation on Non-Native Monoculture Requirement in the VCS Standard

• Patch Integrates Puro Registry for Efficient Carbon Credit Management

• Project Developer Forum Addresses UNFCCC's New fNRB Draft

• UNDO Partners with Canadian Wollastonite for Climate and Agricultural Benefits

• DevvStream Nears Nasdaq Listing via Merger

ACX Executes its First Regulated Carbon Trades

• ACX (AirCarbon Exchange) announces the launch of its exchange and clearing house, ACX Abu Dhabi, within the Abu Dhabi Global Market (ADGM), marking the start of regulated trading in voluntary carbon markets (VCM).

• The world’s first regulated carbon exchange, ACX Abu Dhabi, has successfully completed key trades, including the first carbon credits trade between First Abu Dhabi Bank and Helix Climate, and an over-the-counter transaction by South Pole on the Carbon Market Board.

• ACX's regulatory framework in ADGM boosts market confidence by providing security, transparency, and integrity for carbon credit trading.

Verra launch Public Consultation on Non-Native Monoculture Requirement in the VCS Standard

• Verra opens public consultation on non-native monocultures in the VCS Program.

• Feedback requested by November 26, 2023, for potential VCS Standard updates.

Patch Integrates Puro Registry for Efficient Carbon Credit Management

• Patch has integrated Puro.earth’s registry into its CarbonOS platform, enhancing carbon credit management efficiency.

• This first-of-its-kind integration streamlines sales, purchases, and tracking of carbon removal credits, simplifying operations.

• The partnership connects more buyers with Puro.earth's CO2 Removal Certificates, expanding market access and impact.

Project Developer Forum Addresses UNFCCC's New fNRB Draft

• The Project Developer Forum supports the UNFCCC's initiative to update fNRB (fraction of non-renewable biomass) values for greater accuracy and integrity in cookstove carbon credits but highlights concerns about data inputs and assumptions in the new methodology.

• The Forum emphasizes the need for standardizing new fNRB approaches, thorough peer-review of data, and engagement with host country governments to ensure more relevant, locally sourced data is used in the improved statistical modeling.

• While acknowledging the potential for higher credit prices with more accurate fNRB values, the Forum cautions against a narrow focus on carbon metrics alone, advocating for continued funding and focus on the broader sustainable development and environmental benefits of clean cooking projects.

UNDO Partners with Canadian Wollastonite for Climate and Agricultural Benefits

• UNDO and Canadian Wollastonite partner for enhanced rock weathering, capturing CO2 and enriching soil.

• Wollastonite, used for faster carbon absorption, improves crop yields and pest resistance.

• The partnership benefits the environment and local communities, fostering sustainable practices

DevvStream Nears Nasdaq Listing via Merger

• DevvStream, a carbon credit firm, is nearing a Nasdaq listing through its merger with Focus Impact Acquisition Corp.

• The merger values DevvStream at about $212.8 million, with ongoing financial preparations for SEC filing.