Climate Impact X Secures S$30 Million Funding Boost Led by Mizuho

Climate Impact X Secures S$30 Million Funding Boost Led by Mizuho

by February 22, 2024

The Climate Impact X (CIX), a global marketplace and exchange for quality carbon credits, has secured an additional S$30 million (US$22.3 million) in funding, as revealed by regulatory filings accessed by DealStreetAsia.

This recent investment round was led by Mizuho with S$20 million and joined by its existing investors Standard Chartered Bank, DBS Bank, and the Singapore Exchange (SGX).

In November 2023, CIX had announced that Mizuho would be coming onboard as an investor but did not disclose the investment sum at that time.

The collaboration between CIX and Mizuho is set to enhance cross-border trading and connectivity within Japan’s carbon credit market.

Furthermore, an accompanying S$30 million in convertible notes was transitioned into ordinary shares for existing stakeholders – StanChart, DBS Bank, and SGX.

Founded in 2021 by a coalition of DBS Bank, SGX, StanChart, and Temasek’s GenZero, Climate Impact X stands at the forefront of promoting market confidence in carbon credits.

CIX has developed a robust portfolio of services, including the CIX Marketplace, CIX Auctions, CIX Exchange, CIX Intelligence, and CIX Clear, all designed to stimulate the carbon credit market by facilitating transactions, price discovery, and liquidity.

Last October, CIX had surpassed the trading and clearance of over 1 million tonnes of carbon credits through its exchange, which specialises in standardised spot contracts and specific carbon projects. Overall, CIX has facilitated transactions exceeding 2 million tonnes of carbon credits across its diverse offerings.

CIX is a product of a collaborative effort under the Emerging Stronger Taskforce’s Alliance for Action (AfA) on Sustainability in Singapore. This initiative, a blend of public and private sectors, aims to position Singapore as a leading hub for climate services and carbon trading.


Featured image credit: Edited from Freepik