Climate Impact X | PALO IT Case Study

Context

The voluntary carbon market is seeing a significant expansion and heightened attention from stakeholders globally. However, it faces common challenges encountered by developing initiatives, including inadequate governance, absence of fundamental regulations, and a prevailing sense of mistrust.

PALO IT partnered with Climate Impact X, a Singapore-based carbon exchange, to launch a global spot trading platform to enable buyers and suppliers to trade large volumes of verified carbon credits through standardised contracts and single project listings.

Catering primarily to financial institutions, commodities traders and intermediaries, the project was set to expand the breadth of carbon services available in the region, while increasing access and connectivity to global carbon markets that aid in reducing emissions.

Solution

As part of the partnership, PALO IT co-designed and built the CIX Exchange platform, helping to deliver the fast-growing business’s vision of an open and extensible platform. Through CIX’s understanding of carbon market user needs, underpinned by PALO IT's deep experience of design-driven solutioning, we delivered a seamless user interface and experience; tailored to meet major user requirements in the carbon markets ecosystem, including the most comprehensive range of end-user, investor and intermediary needs.

Crucially, CIX Exchange was built as an open registry, a system that allows carbon market professionals to seamlessly register and trade carbon credits across different—and verified—types of carbon credits from natural climate solutions to technology-based and engineered solutions.

This functionality has enabled CIX to create a connected carbon market infrastructure that is both flexible and capable of supporting ongoing market changes and developments, to ultimately help actualise the true mitigation potential of carbon credits.

“I am proud of being a key player of this rapidly emerging economy towards a more sustainable future. It was a remarkable opportunity for us to build a long-term partnership with CIX and play a key role in completing its core suite of solutions to serve global carbon markets and empower organisations to action towards a net zero economy. Aligned by common values and vision, our partnership with CIX demonstrates our strong commitment to harnessing the power of technology for the greater good, unlocking new opportunities for growth, and driving positive change.”