The International Air Transport Association (Iata), the representative body for the global airline industry, on Wednesday launched the Aviation Carbon Exchange (ACE). Developed in cooperation with Xpansiv CBL Holding Group, an Australian-US commodities trader, ACE is the first of its kind – a realtime centralised marketplace integrated with Iata’s Clearing House (ICH), to settle funds on trades in carbon offsets. ICH provides ACE with a secure and seamless settlement system, guaranteeing both payment and the delivery of the carbon credits. “Airlines are serious in their commitment to reduce emissions,” highlighted Iata director-general and CEO Alexandre de Juniac. “And they need a reliable tool to access quality carbon credits in real time. ACE will be a key tool helping airlines efficiently manage these important transactions.”
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