AirCarbon Exchange (ACX) successfully hosted the world’s first micromobility carbon credits auction, in collaboration with Bolsa Verde Rio, Tembici, BlockC and ZCO2.
“The ACX Brazil auction is yet another milestone in our quest to bring transparency and efficiency to the carbon markets,” said William Pazos, Managing Director & Co-Founder of ACX. “The unique Tembici carbon credits reached an international audience covering 30 countries through ACX’s network. We are pleased to bring these international players to the Bolsa Verde.”
The auction, which ran for 24 hours from April 27th to April 28th, offered credits generated from Rio de Janeiro’s shared bike scheme run by Tembici, one of Latin America’s leading micromobility technology companies. This was the first time micromobility carbon credits had been publicly available with the event attracting interest from a wide range of companies with StoneX Financial Inc. and ClimateSeed ultimately winning with bids of $8.45-$8.50.
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“We’re at the point where we urgently need to rethink the impact we’re having on the environment so it is gratifying to see companies like StoneX and Climate Seed helping to construct a more sustainable world,” said BlockC CEO Carlos Martins. The credits have been issued using the AMS-III.BM.: Lightweight two and three wheeled personal transportation calculation methodology developed by the UNFCCC (United Nations Framework Convention on Climate Change). The credits generated by Tembici were calculated by ZCO2, which is part of the BlockC group of companies dedicated to the decarbonization journey.
“We are pleased with every element of this pioneering auction. Our success in working alongside our strategic partners points to the start of a very promising business opportunity,” said Leandro Fariello, Tembici’s CFO. “The credits that were auctioned have a key point of difference to other carbon credits in that they are generated within an urban setting. This theme will become increasingly important so we will reinvest the revenue generated back into the business on new technologies and bicycles.”