London-based B2B marketplace specialist NovaFori has announced a partnership with CIX to build an online marketplace for corporate buyers to purchase trusted carbon credits.

“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,” said Mikkel Larsen, interim CEO of CIX.

The project marketplace is one of two platforms to be set up within the CIX, which will allow users to buy from a selection of carbon credit projects, catering to a broad range of companies, according to the announcement.

Powered by NovaFori’s trading technology, the platform integrates data on environmental impact, risk, and pricing in the carbon credit space to showcase verified high-quality carbon reduction and prevention projects.

Headquartered in Singapore, the setting up of the carbon exchange was announced in May 2021 and is expected to go live at the end of the year.

The CIX will consist of two platforms, the exchange and the project marketplace. The exchange will trade large volumes of carbon credits through standardised contracts, catering primarily to multinational corporations and institutional investors.