Argentina Debuts First-Ever Carbon Credit Exchange

Argentina has taken a major step into the global carbon market arena with the launch of its first carbon credit exchange, Bolsa Argentina de Carbono (BACX). The platform, officially live nearly a year and a half after its initial reveal at COP28 in Dubai, is a milestone for South America’s green finance ambitions.

Scenic view of Argentina’s Selva Misionera rainforest, with misty hills and a waterfall at daybreak. AI generated picture.

The exchange is built in collaboration with Singapore-based ACX (formerly AirCarbon Exchange), which provides the digital infrastructure that connects BACX to international carbon markets. ‘This collaboration connects a market with great potential to the global carbon economy through ACX’s advanced trading technology,’ said William Pazos, co-founder and co-CEO of ACX. ‘Our goal is to support Argentina and the Americas in accessing international markets and growing its local carbon market.’

With this launch, Argentina positions itself as a major contender in the voluntary carbon credit space. ‘Argentina has the potential to be one of the largest providers of carbon credits on the planet,’ said BACX co-founder and president Alejandro Guerrero.

Behind BACX’s operations is ACX’s proprietary technology, designed to ensure transaction traceability, secure infrastructure, and consistent credit ratings. The move follows ACX’s 2023 strategic shift away from its Abu Dhabi hub, with operations now centred in Singapore due to decreased activity in the Gulf region.

To further support the supply of high-integrity offsets, BACX is launching a dedicated carbon fund. According to BACX co-founder and director Adrian Cosentino, the fund will help scale up the development of verified emissions reduction projects in Argentina.

In another key development, UK-based BeZero has been appointed as the official ratings agency for all carbon credits traded on BACX, providing third-party assessments to ensure transparency and quality.

Meanwhile, ACX continues to drive industry-wide improvements. In March, it helped launch the Carbon Data Open Protocol alongside nearly 30 other global stakeholders, a move aimed at standardising data and boosting the transparency and interoperability of carbon credit systems.

ACX has also inked agreements in Brazil, Vietnam, Japan, and Indonesia, and previously supported E.ON’s Seagrass trading platform based in Dubai.