The Korea Exchange announced on the 17th that it has signed a memorandum of understanding (MOU) with.. – MK

The Korea Exchange announced on the 17th that it has signed a memorandum of understanding (MOU) with Xpansiv, the operator of the world’s largest carbon credit exchange, to strengthen its carbon market business.

Carbon Credit is a market that trades certified carbon reduction performance (Credit), also known as Voluntary Carbon Market (VCM). Xpansive operates the world’s largest carbon credit trading platform ‘CBL’. Carbon credit futures are listed and traded on the Chicago Mercantile Exchange (CME) based on trading stocks in the CBL market.

Following the greenhouse gas emission trading market, which was opened and operated in 2015, the headquarters is further considering opening the “KRX Carbon Credit Market.” Through this MOU, we will review KRX’s expansion of its global carbon market network and its possible connection with overseas carbon credit markets (CBL).

In addition, when the headquarters opens the carbon credit market in the future, it plans to supply liquidity from overseas institutions to Korea to come up with a plan to revitalize the market.

Meanwhile, the headquarters plans to consider ways to build various infrastructure so that companies in demand of carbon credits can conveniently sell high-quality overseas carbon credits using the platform of the Korea Exchange.

Chairman Jung Eun-bo said at the MOU signing ceremony in New York, “The Korea Exchange aims to foster Asia’s best carbon market,” adding, “We expect to have opportunities to collaborate with Xpansive, which operates the global carbon credit market, in various aspects.”

“We are excited to work with KRX to create an integrated global carbon market,” said John Melby, CEO of Xpansive. “We look forward to working together to open the KRX Carbon Credit market, which will support companies and others’ energy transition goals.”