Carbon offset projects to conserve 30 per cent of the planet by 2030

Carbon offset

Carbon offset projects representing 50m tons of global carbon trade have been established by Carbon Market Exchange.

The company, that trades nature-based carbon offsets, has a carbon pipeline that now exceeds one billion tons. Carbon Market Exchange (CMX) offset pipeline should exceed 25 per cent of the world-wide market on a forward basis. The company will trade over 50 million tons of offsets in 2023, which represents over 15 per cent of the expected trade volume worldwide.

“We prioritise risk management by maintaining a bio-diverse portfolio and using advanced modelling tools to mitigate financial exposure,” said Ralph Carmichael, Carbon Market Exchange CFO. “No one project represents more than five per cent of the CMX portfolio and the offsets are derived from numerous geographic and political regions, all with significant environmental impact.”

CMX projects span the globe fromSoutheast Asia to Africa and are carefully selected and generated from world-class conservation sites. The offsets include blue carbon, agriculture, forests and renewable energy.

“What sets us apart is ensuring local and indigenous leaders have a seat at the table and local communities benefit from carbon offset creation,” said Shenna Fortner, CEO of Carbon Market Exchange Ltd. “Our company provides real-world climate solutions that use financial markets to protect critical biodiversity in the fight for the future.”

Last year CMX launched its nature-based digital token XCO2, available on Polygon, an EVM compatible blockchain technology that provides cryptographic proof, transparency and public accountability. The company is dedicated to financial growth through conservation of natural assets around the world and meeting climate targets.

Carbon Market Exchange offset projects include:

Belize: the Maya Forest Corridor. CMX is providing carbon financing for project development located in a landscape of private lands experiencing four times the national deforestation rate due to the rapid expansion of large-scale, unsustainable mono-crops.

Tanzania: Cashew nut Agroforestry. CMX has exclusive rights to more than one million hectares (over 2.6 million acres) for an agroforestry carbon offset project to ensure planting of an additional 15 million avocado trees, 15 million coffee trees and 25 million cashew trees.

Tanzania: Mafia Reef. CMX has reached an agreement with the government of Tanzania on a blue carbon project to protect the Mafia Reef and coastal ecosystems in the Indian Ocean. This project is a significant carbon offset with the ability to protect the delicate balance of this environment.

Suriname: Forest and Community Preservation. Suriname is comprised of over 94 per cent dense forest with significant biodiversity and a rich carbon sink. CMX will convert 160,000 hectares of timber concessions into a 30-year conservation area that includes a strategic partnership with local communities.

Indonesia: Gorontalo Mangroves. CMX. is developing a blue carbon project to preserve and protect the reefs and mangroves of Gorontalo Province and create important carbon offsets. Ocean habitats such as seagrasses and mangroves can sequester carbon dioxide from the atmosphere at rates up to four times higher than terrestrial forests.

Indonesia: East Kalimantan Rainforest. CMX will convert 450,000 hectares of dense forest and timber concessions to a conservation area, including 135,000 hectares of peatlands, which store more carbon than all other vegetation types in the world combined. These two projects represent major carbon sequestration opportunities that are essential to combat climate change.

“Carbon Market Exchange is dedicated to conserving thirty per cent of the planet by 2030,” said Carmichael.

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