New agreement tackles carbon offsetting in Cantabria

ClimateTrade and the Cantabria Chamber of Commerce

The pilot agreement between ClimateTrade and the Cantabria Chamber of Commerce was a step forward to promote a local impact. 

Starting in October 2021, the Cantabria Chamber of Commerce will start to focus even more on its social responsibility at a regional level, investing in projects that empower the local economy, environment and communities. 

With this agreement, the two companies put a focus on “local offsetting”, in other words, buying carbon credits and financing projects at a regional level. This way, corporations that are looking for ways to offset their carbon footprint aiming for a local impact will be able to do it in the same place in which they hold their activity, tracking the benefits in real time with the usage of the blockchain technology by ClimateTrade. The focal point projects are the ones that promote the capture of carbon through solutions that are based in nature, such as reforestation.   

According to Climatetrade’s CEO Francisco Benedito, with this agreement we expected to help companies, mostly small and medium, to achieve their 2030 Agenda and Sustainable Development goals while supporting local and regional projects. Achieving carbon neutrality before 2050, as established by the EU, is a challenge that can only be faced by joining forces, meaning that this partnership is a key step to accomplish it. 

Modesto Piñeiro, the chairman of the Chamber of Commerce, stated that “this is an unprecedented project that contributes to the environment, giving a possibility to companies to step up into their path to social responsibility and sustainability.

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