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Mizuho Financial Group joins forces with Climate Impact X to bolster Asia's carbon market

Published 11/28/2023, 03:37 AM
Updated 11/28/2023, 04:29 AM
© Reuters.

In a strategic move to strengthen Asia's carbon trading capabilities, Mizuho Financial Group has announced an investment in Climate Impact X (CIX), a marketplace focused on high-quality carbon credits. This collaboration is set to enhance the availability of reliable carbon credits in the region, particularly beneficial for sectors with high carbon footprints.

The Japanese financial giant, together with partners DBS, SGX, Standard Chartered (OTC:SCBFF), and GenZero, is poised to make significant strides in Asia's carbon market, pending necessary shareholder and regulatory consents. The investment aims to support CIX's growth within Japan's ambitious decarbonization framework and potentially extend its influence across the region.

President Masahiro Kihara of Mizuho expressed the institution's dedication to improving customer service and contributing to a decarbonized society. Their involvement with CIX is expected to provide a dependable source of carbon credits, which is critical for businesses working towards environmental sustainability goals.

This development marks a significant commitment by Mizuho to facilitate cross-border trading and contribute to Asia's growing carbon marketplace, showcasing a proactive stance in addressing environmental challenges through market-driven solutions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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