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Carbon Market Exchange Secures XCO2 Certificate of Shariah Compliance from Shariah Experts Ltd
[September 22, 2022]

Carbon Market Exchange Secures XCO2 Certificate of Shariah Compliance from Shariah Experts Ltd

New Certificate Empowers Company to Assist Islamic Finance and Crypto Clients

Key Highlights

  • Carbon Market Exchange Ltd. secured a Certificate of Shariah Compliance from Shariah Experts for XCO2.
  • The year-long certificate endorses the company's XCO2 Token and indicates its alignment with Shariah principles.
  • Carbon Market Exchange is now optimally positioned to assist Islamic finance and crypto clients.

LANSING, Mich., Sept. 22, 2022 /PRNewswire/ -- Carbon Market Exchange Ltd., a world leader in uniting climate action and the financial industry to make international climate targets more accessible, announced today it was awarded a certificate by Shariah Experts Ltd for its XCO2 token, which validates its alignment with Shariah principles. The year-long certificate endorses the company's unique XCO2 Token. The NFT Sharia Certification can be viewed here. 

"The certificate endorses Carbon Market Exchange's XCO2 Token, confirming its alignment with Shariah principles."

"It's a true honor to be aligned with Shariah principles, and this vote of confidence from such a renowned advisory firm will help us make a big impact for many new clients in the region," said Carbon Market Exchange Chief Executive Officer Shenna Fortner.

Shariah Experts Ltd conducted groundbreaking research from the Islamic jurisprudential point of view in the field of carbon offsets and blockchain-based tokens. All the aspects of XCO2, including its nature, issuance, redemption, usage, and underlying source were thoroughly analyzed to ensure high quality standard. Upon positive results, Shariah Experts Ltd granted the certificate in the form ofa non-fungible token (NFT).

"Carbon Market Exchange is doing amazing things for the conservation of the environment, and we are pleased to grant this certificate to ensure more clients can benefit from the good they're doing," said Shariah Experts Co-Founder & Director Dr Farrukh Habib. "Islam forbids wasting of resources and destroying the environment. It strongly emphasizes on eco-friendly ideas and principles. The modern trends of sustainable environment and green economy are aligned with the teachings of Islam and shariah. Therefore, projects like Carbon Market Exchange should be welcomed by the Muslim fraternity."

Carbon Market Exchange Ltd has partnered with WEB3 experts to reach its technology goals and meet the international climate targets. The development of the XCO2 and CMX tokens have taken place on the Ethereum blockchain and the secondary scaling solution, Polygon. With the recent merge from the energy consumptive Proof-of-Work model to the environmentally conscious Proof-of-Stake model, Ethereum now has a place in the conservation movement. The CMX NFT certificates can be purchased through the Carbon Market Exchange Marketplace and then be traded, held, or retired to meet the demands of the industry.

About Carbon Market Exchange

As the definitive market leader in nature-based offset credits, Carbon Market Exchange Ltd is dedicated to uniting the financial industry and climate action in a way that makes meeting international climate targets more accessible for companies—and more supportive for conservationists. Established in 2021 by an elite group of environmentalists and finance executives, the company now has operations in the United States, Belize, UAE, and Tanzania. In Q1 of 2022, Carbon Market Exchange launched its nature-based, carbon-backed crypto token XCO2, which can be accessed via Ethereum.  In Q4 of 2022, Carbon Market Exchange will launch CMX, its non-fungible token (NFT), to provide a certificate of authenticity for carbon offsets purchased. The company's goal is to ensure 30 percent of the planet is conserved by 2030. For more information, visit

About Shariah Experts Ltd.

Shariah Experts Ltd was established in 2020, as the world's first halal advisory firm dedicated to projects based on blockchain, crypto, Defi, NFTs, and metaverse, by the world class Shariah scholars with more than 15 years of collective experience. Shariah Experts Ltd is bridging the gap between the Web3 innovations and the Muslim world by primarily focusing on guiding innovative ideas and tech-driven projects to comply with the Islamic law (shariah). While eyeing on the latest tech-advancements in the halal economy, we have not lost sight of the traditional Islamic financial industry and Halal economy. We also cater the needs of our clients in various traditional sectors, including Islamic banking, capital markets, Sukuk, Takaful (Islamic insurance), fund management, Zakat, Waqf, will-writing and inheritance law. Visit us at: 

CONTACT: Lori Levin, 212-805-3013 
[email protected]

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SOURCE Carbon Market Exchange Ltd.

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