Climate Impact X

What Climate Impact X does

Climate Impact X (CIX) is a Singapore-headquartered global carbon exchange and environmental market solutions provider, incorporated as Climate Impact X Pte. Ltd. The company operates a two-sided digital marketplace that connects corporate buyers, traders and intermediaries, and project suppliers for the trading of verified carbon credits, Renewable Energy Certificates (RECs), and standardized environmental contracts. CIX's core platform architecture comprises the CIX Exchange (a web-based trading platform with custody and settlement), CIX Intelligence (market intelligence including the daily Carbon Daily pricing report), and a suite of standardized spot contracts—CIX CORSIA X (CP1X-GM), CIX ARR X, CIX Cookstoves X, and CIX Nature X—each targeting a distinct credit segment with curated project baskets and benchmark pricing curves.

CIX generates revenue through transaction fees on exchange trades, recurring subscriptions for market intelligence and pricing data, and professional services for procurement, advisory, custody, and retirement of credits. Pricing is quote-based and not publicly disclosed, reflecting a B2B enterprise model. The platform supports compliance use cases including Singapore carbon tax (under the Carbon Pricing Act) and CORSIA Phase 1 aviation obligations for the 2024-2026 period, alongside voluntary corporate decarbonization use cases linked to SBTi, CSRD, and RE100 reporting frameworks.

The company was founded in 2020 by Temasek, DBS Bank, and Singapore Exchange, emerging from Singapore's Emerging Stronger Taskforce, and has subsequently attracted Standard Chartered, Mizuho Bank, and GenZero as strategic shareholders. CIX maintains offices in Singapore (headquarters) and London, serves markets across APAC, EMEA, and the Gulf, and was recognized as the 2025 Best Carbon Exchange by Environmental Finance VCM Rankings. As of early 2026, the company employs 51-100 people and operates under CEO Oi-Yee Choo following the January 2025 passing of founding CEO Mikkel Larsen.

Name

Climate Impact X

Legal name

Climate Impact X Pte. Ltd.

Website

https://climateimpactx.com/

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

Climate Impact X is a Singapore-based global carbon exchange operating the CIX Exchange platform for trading verified carbon credits, Renewable Energy Certificates, and standardized environmental contracts, serving corporate buyers, traders, and project suppliers across APAC, EMEA, and the Gulf.

Ownership category

akta.pro rank

Product category

Carbon Exchange / Environmental Markets Platform

NAICS

Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (523210)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Market Access, Connectivity & Trading Technology (APIs, OMS/EMS, FIX connectivity, venue gateways) (EUABAAAF)

akta.pro secondary industries

Carbon Market Data, Indexing & Price Reporting (Benchmarks, indices, market data feeds) (EUABAAAD), Benchmarking, Ratings & Stakeholder Reporting Portals (Scorecards, Dashboards) (EUABAEAJ)

Keywords

• Carbon credit exchange
• Voluntary carbon market
• Environmental markets platform
• Carbon trading platform
• Standardized carbon contracts

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Carbon Credit Trading & Transaction Fees: CIX operates a carbon exchange facilitating the buying and selling of verified carbon credits, RECs, and standardized contracts. Revenue is generated through transaction fees, platform access fees, and settlement services for trades executed on the exchange.
2. Market Intelligence Services: CIX provides market intelligence including daily carbon pricing reports (Carbon Daily), pricing insights, and market trend analysis. This data-driven service supports informed decision-making for buyers and sellers.
3. Procurement & Advisory Services: Tailored sourcing and negotiation services for both spot and forward transactions, along with comprehensive credit management including procurement, settlement, custody, and retirement of International Carbon Credits (ICCs).

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Climate Impact X (CIX) operates a Singapore-based global carbon exchange where corporate buyers, traders/intermediaries, and project suppliers transact verified carbon credits, renewable energy certificates (RECs), and standardized contracts (including CORSIA X and ARR X). The platform combines auction and order-book trading infrastructure with market intelligence (Carbon Daily), bank-grade custody, settlement, and advisory services to support enterprise climate procurement and voluntary carbon market participation.

Product overview

Climate Impact X operates as a Singapore-based carbon exchange and environmental market solutions provider, offering a platform-plus-services architecture centered on the CIX Exchange. The core platform enables trading and procurement of verified carbon credits and Renewable Energy Certificates (RECs), supported by standardized contract products (CIX CORSIA X, CIX ARR X, CIX Cookstoves X, CIX Nature X) that provide benchmark pricing and liquidity across specific market segments. Intelligence services (CIX Carbon Daily) complement the trading infrastructure with market pricing data. The company serves corporate buyers, traders and intermediaries, and project suppliers across global environmental markets.

Differentiator

Problem solved

Functional benefit

Brands

• CIX CORSIA X: Global standardised spot contract for CORSIA-eligible emissions units under the Carbon Offsetting and Reduction Scheme for International Aviation, enabling trading of eligible credits from all ICAO-fully approved registries.
• CIX ARR X (CAX)
• CIX Cookstoves X (CCX)
• CIX Nature X (CNX)

Products and services

• CIX Exchange
• CIX Standardized Carbon Contracts (CORSIA X, ARR X)
• CIX Intelligence / Carbon Daily
• CIX Project Origination & Supplier Onboarding
• CIX Climate Solutions Procurement & Advisory
• CIX Custody and Settlement Services

Quantifiable outcome

• First standardized contract in the market to accept CORSIA-eligible credits from all ICAO-fully approved registries
• +1 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Six partnerships are on record, tiered core and flagship.

• DBS ChinacoreStrategic or Co-development Partner · 29 August 2025DBS China signed a tripartite MOU to advance carbon credit trading, collaborating with CIX to boost carbon market development in China.
• MSCIcoreTechnology or Integration · 23 July 2025CIX collaboration with MSCI to scale global access to carbon market intelligence. This partnership enhances CIX's data and analytics capabilities for market participants.
• GCC (Gulf Cooperation Council)flagshipStrategic or Co-development Partner · 12 December 2024GCC announced strategic agreements with CIX to enhance carbon market services and liquidity. This partnership aims to expand CORSIA compliance market access and develop new environmental market solutions.
• S&P Global Commodity InsightsflagshipStrategic or Co-development Partner · 12 December 2024S&P Global Commodity Insights entered into strategic agreements with CIX to enhance carbon market services and liquidity, combining CIX's marketplace with S&P's commodity intelligence capabilities.
• BeZero CarboncoreStrategic or Co-development Partner · 7 November 2024BeZero Carbon partnered with CIX in Singapore to provide carbon ratings on the trading platform, enhancing transparency and quality assessment for market participants.
• International Advisory Council (IAC)coreStrategic or Co-development PartnerCIX established an International Advisory Council comprising global experts including Claire O'Neill (former UK Minister, WBCSD), Akifumi Takigawa (Mitsubishi), Connie Leung (Microsoft), Dr Ben Caldecott (Oxford), and representatives from Amazon, Conservation International, World Bank/IFC, and other organizations providing independent perspectives on science, policy, market applications and industry best practices.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Xpansiv: Xpansiv operates CBL, one of the largest spot exchanges for carbon credits and other environmental commodities, with standardized contracts and settlement infrastructure that directly compete with CIX Exchange.
• AirCarbon Exchange: AirCarbon Exchange (ACX) is a Singapore- and Abu Dhabi-based carbon exchange trading standardized carbon instruments; its APAC positioning and standardized contract model directly compete with CIX Exchange.
• Carbonplace: Carbonplace is a digital carbon credit marketplace formed by a consortium of global banks (Standard Chartered, BBVA, Banco Santander, Itaú, Natixis, Rabobank, Société Générale) offering trading and post-trade infrastructure for verified credits, comparable in scope and counterparty model to CIX.
• Puro.earth: Puro.earth operates a marketplace for engineered carbon removal credits (biochar, BECCS, mineralization). It overlaps with CIX's ARR X offering in the carbon removal segment and competes for removal project suppliers.

Broad incumbents

• Intercontinental Exchange (ICE): ICE operates large-scale environmental markets including ICE Futures Europe (EUA, CER futures) and provides registry-linked trading infrastructure. It is a broad incumbent that competes for institutional liquidity that might otherwise flow to specialist venues like CIX.
• CME Group: CME Group lists global emissions futures (GEO, NGEO, CBL) and is an established derivatives incumbent that could capture institutional hedging flows adjacent to CIX's spot standardized contracts.

Others

• Verra: Verra is the world's largest carbon crediting program (VCS), issuing the underlying credits that flow through exchanges like CIX. As a registry/standards body it is adjacent rather than directly competitive, but controls supply-side integrity that affects CIX's marketplace.
• Gold Standard: Gold Standard is a leading carbon credit standard (especially for cookstoves, ARR, and community projects) whose certified credits are traded on CIX. It is an ecosystem enabler rather than a direct exchange competitor.

Emerging players

• Patch: Patch provides an API-first platform for embedding carbon credit purchasing into enterprise applications, targeting the same corporate buyer segment as CIX but via a developer/API distribution model rather than exchange UX.
• KlimaDAO: KlimaDAO is a decentralized autonomous organization building on-chain infrastructure for carbon credit trading and retirement. It targets similar voluntary market participants via tokenized credit rails, intersecting with CIX's exchange model in the digital-asset flavor of carbon trading.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/climateimpactx

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Climate Impact X