SINGAPORE, Athens, Greece and ABU DHABI, UAE, September 19, 2023 /PRNewswire/ — ACX (AirCarbon Exchange) and the Athens Stock Exchange (ATHEX) are delighted to establish a partnership to explore the development of a voluntary carbon market in Greecewith the aim of creating a transparent and efficient market for voluntary carbon credits.
This is the latest step in ACX’s bold ambition to operate the world’s largest environmental trading network and new carbon market in Greece will represent ACX’s first base on the continent Europe.
Thomas McMahonco-CEO and co-founder of ACX, said, “We are excited to partner with ATHEX to explore the prospect of establishing a voluntary carbon market for Greece. This collaboration marks an important step in our expansion strategy, particularly within the European Union. By leveraging ATHEX’s expertise and market reach, we are poised to create a robust platform that will facilitate carbon trading and accelerate the transition to a low-carbon economy by Greece. Together, we are committed to driving sustainability. This partnership illustrates our shared vision of a greener future and reinforces our commitment to creating significant environmental impact.
The ACX and ATHEX partnership aims to combine ACX’s international digital exchange platform with ATHEX’s extensive experience as a well-established operator of regulated entities (covering trading, clearing and settlement operations) at within the EU capital market. This collaboration aims to improve price transparency and expand the reach of voluntary carbon markets by Europe, providing valuable opportunities for governments and businesses to achieve their net zero emissions targets. The creation of this joint venture Greece will further support several objectives:
– The partnership will facilitate private sector participation with the aim of achieving its net zero emissions targets, beyond the targets set by the EU ETS system.
– This will create opportunities to support local carbon reduction and elimination efforts, while improving capital flows to programs enabling carbon offsets.
– With the Greek Recovery and Resilience Plan, which allocates more than 600 million euros[1] With a view to driving the green transition, the joint venture can provide the Greek state with global infrastructure to effectively respond to climate change issues and implement emissions reduction and avoidance policies.
– The collaboration will promote the development of carbon markets in the region by providing access to a global carbon market. Additionally, this will enable the Athens Stock Exchange to work closely with local project developers, particularly those involved in forest restoration, helping them find a route to market for their credits.
ATHEX has been actively involved in sustainable initiatives under the United Nations Sustainable Stock Exchanges (SSE) initiative since 2018. Additionally, that of Greece EU membership is part of the region’s emissions trading system. A partnership of this type would establish an efficient market for the voluntary sector and could potentially Greece the first country to offer access to both an active compliance carbon market and a voluntary market, benefiting from increased liquidity and access to investors. This would be a crucial step in aligning compliance and voluntary markets under UN Article 6.
Yianos Kontopoulos, CEO of ATHEX GROUP, said: “As an operator of EU-regulated infrastructure, including ATHEX, ATHEXCLEAR and ATHEXCSD, we are in a unique position to enable our ecosystem to adopt voluntary carbon credits. Our partnership with ACX allows us to facilitate seamless access to local and regional project developers. , investors and government agencies, allowing them to effectively manage that of Greece zero net efforts. At ATHEX, we are committed to playing an essential role in accelerating the transition to a greener and more sustainable future. »
About ACX Group:
The ACX Group (AirCarbon Exchange), comprising ACX Ltd and AirCarbon Pte. Ltd. which manages environmental scholarships in Abu Dhabi And Singapore is aimed respectively at businesses, financial traders, carbon project developers and other industry stakeholders. ACX offers participants an efficient and transparent trading platform that is user-friendly, transparent and offers the lowest transaction fees on the market. By leveraging distributed ledger technology, ACX facilitates the scalable growth of environmental product markets to align with global ambitions to achieve Net Zero.
ACX is a proud member of the International Emissions Trading Association (IETA) and International Sustainability and Carbon Certification (ISCC), reinforcing its commitment to sustainability and carbon-responsible business practices and other environmental products. ACX has gained international recognition as the world’s best carbon exchange in Environmental Finance’s estimated Voluntary Carbon Market rankings for two consecutive years (2021, 2022), strengthening its position as an industry leader.
For more information please contact [email protected] or visit www.acx.net.
About the Athens Exchange Group:
The Athens Exchange Group supports the Greek capital market by operating the equity and derivatives markets as well as the alternative market. The exchange also carries out clearing and settlement of transactions and has participated in the energy market since 2019. The Group offers financing tools and solutions to businesses, expanding investor choice by providing a safe, stable and easy environment, in perfect compliance with international practices and European standards. regulatory framework.
For more information, visit: https://www.athexgroup.gr/
[1] https://commission.europa.eu/business-economy-euro/nomic-recovery/recovery-and-resilience-facility/greeces-recovery-and-resilience-plan_en#green-transition
SOURCE ACX (AirCarbon Exchange)
