AirCarbon Brasil, the country's first carbon credit exchange, and its parent company AirCarbon Exchange, from Singapore, have just received investment from Mubadala, the sovereign fund of the government of Abu Dhabi. For Carlos Martins, CEO of BlockC and director of AirCarbon Brasil, this is an emblematic move, since this fund, associated with sectors that generate a lot of emissions, such as oil, decided to invest in the carbon credits market.
With a portfolio of US$ 284 billion, Mubadala invests globally in priority sectors such as aerospace, ICT, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, defense services and agribusiness. BlockC is the systems integrator of AirCarbon Brasil, the country's first carbon credit exchange, and also a minority partner, with a 20% stake in the local company, responsible for the operation and commercialization of its environmental assets.
The acquisition of Mubadala shows the importance of the Brazilian market for environmental assets in the global business scenario. “The presence of such an important global player in our business brings not only visibility, but price transparency and appreciation of the emissions offset market”, says Carlos Martins, CEO of BlockC and director of AirCarbon Brasil.
For Ahmed Jasim Al Zaabi, president of the Abu Dhabi Global Market, “the UAE seeks to be a leader in leveraging the path towards a low-carbon economy. Mubadala's investment in the ACX is a major testament to the commitment to climate action, which will enable investors and companies to voluntarily purchase verified emission reductions in the form of carbon credits.”
Thomas McMahon, CEO of AirCarbon Exchange, Singapore, said: "Mubadala's investment validates our joint commitment to expand the voluntary carbon market globally."
AirCarbon is a global environmental commodities exchange that uses distributed ledger technology within a traditional commodity trading framework. It leverages blockchain architecture to create securitized carbon credits. This framework allows companies to trade and finance carbon credits like conventional financial assets, increasing participation and investment in global carbon reduction and offset programs.
