Partnership pitched as leveraging e ACX’s proprietary exchange technology and established leadership in the carbon market and B3’s position as the largest financial exchange in Latin America.
ACX Group has announced a partnership with B3 S.A. – Brasil, Bolsa, Balcão (B3), the Brazilian stock exchange, streamlining carbon market access to Brazilian companies seeking to reach their net zero goals.
The partnership will leverage ACX’s proprietary exchange technology and established leadership in the carbon market and B3’s position as the largest financial exchange in Latin America.
As part of the partnership, B3, with its strong presence in the Brazilian capital markets and its deep relationships with market participants, aims to contribute to the expansion and success of ACX’s Brazil trading platform which is targeted to be launched in 1Q 2024.
ACX and B3, both regulated financial companies under their respective jurisdictions, will seamlessly connect what is expected to be one of the world’s largest carbon markets to the broader international marketplace.
ACX’s transparent and award-winning platform will allow Brazilian businesses to transact with buyers and sellers worldwide.
William Pazos, Co-Founder and Co-CEO, ACX, said, “We are excited to partner with B3 in Brazil. This transaction connects one of the world’s largest carbon markets to the broader network of ACX exchanges. With our strong partners and by providing market-leading trading technology, we aim to support Brazil’s efforts to promote sustainable development and grow its native carbon market.”
Leonardo Paulino Betanho, Head of OTC products, B3, said, “Brazil has the potential to be one of the biggest carbon credit suppliers in the world and B3 is committed to boosting this market in this country by providing a safe, price transparent and integrated trading platform that supports the acceleration toward a more sustainable future. Furthermore, the deal is in line with B3’s strategy of developing new products and advancing the ESG agenda in a way that promotes sustainable economic development.”
Together, ACX and B3 are dedicated to promoting the growth and visibility of Brazil’s carbon market, fostering economic prosperity, and addressing climate change challenges.
By facilitating connections between local and global stakeholders, this partnership sets the stage for a more sustainable future, where Brazil’s carbon credits can make a meaningful impact on a global scale.
Carlos Martins, CEO, BlockC, ACX’s Brazilian partner, said, “With B3’s market position and strong network, ACX’s technology and expertise in carbon trading, coupled with BlockC’s deep understanding of the local market, we have an invaluable combination of strengths as we establish our presence and bring ACX’s Brazil platform to fruition.”
The partnership between ACX and B3 is pitched as ensuring ACX’s Brazil platform adheres to the highest standards of transparency and accountability, providing a level playing field for all participants and helping the local market to significantly scale up.
ACX says it remains committed to its mission of facilitating carbon trading and supporting countries in their transition to a low-carbon economy.
The partnership between ACX and B3 represents a major milestone in this journey – with ACX saying it is eager to witness the positive impact it will have on Brazil’s sustainability landscape.
Click below to share this article