Climate Change News
5 climate change priorities for 2023
As our window to act becomes ever smaller, what should be the top climate change priorities in 2023?
January 11, 2023
As our window to act becomes ever smaller, what should be the top climate change priorities in 2023?
Between technical wording and vague commitments, it can be challenging to analyze and understand the decisions that emerged from COP27. In this article, ClimateTrade explains the most relevant carbon market developments from this year’s Conference of the Parties. Two intense weeks of negotiations came to an end on Sunday, and a record 35,000 COP27 delegates have now left Sharm el-Sheikh. It’s time to digest all the information that came out of the summit, and for us at ClimateTrade, that means analyzing the most relevant carbon market announcements and developments. More on this topic: Top 5 expectations from COP27 COP27 carbon market development 1: Article 6 advances While COP26 was seen as a cornerstone moment for Article 6, COP27 was an opportunity to iron out some of the more technical details of the functioning of international carbon markets under the Paris Agreement. For Article 6.2, governing the use of Internationally Transferred Mitigation Outcomes (ITMOs), the text adopted at COP27 clarifies the rules on how to track ITMOs through a registry, what each country’s Article 6 reporting expert reviews should include, and how parties should report the use of ITMO towards the achievement of Nationally Determined Contributions (NDCs). Article 6.4, which governs voluntary cooperation between countries to achieve the goals of the Paris Agreement, did not progress as much as expected, mostly because its Supervisory Body was formed just a few months before COP27 and only had time to meet once before the conference. However, the text approved in Sharm el-Sheikh does bring some clarifications on the transfer of credits developed under the Clean Development Mechanism (CDM) to the Article 6 mechanism. It also gives more details on the type of emissions reductions where the Share of Proceeds (a tax on carbon credit trade under the Article 6 mechanism) should be applied. Carbon market experts, including the International Emissions Trading Association (IETA) that ClimateTrade is a member of, believe 2023 will be a much more productive year in working to define the functioning of Article 6, and that the first credits to be issued under this mechanism should come out in 2025. COP27 carbon market development 2: Loss and Damage Fund This year’s COP was marked by a historic agreement: for the first time, parties agreed to set up a Loss and Damage Fund to help vulnerable countries deal with the consequences of climate change. This is based on the notion that rich countries and their rapid industrial development over the past 200 years are highly responsible for the issues currently affecting the climate, and that the effects of climate change are most felt by countries that contribute very little to global warming. Loss and damage funding, also called climate reparations by some, has been championed by vulnerable countries at climate conferences since before the Paris Agreement was signed, but it took more than a decade – and dramatic climate events like this year’s Pakistan flooding – for this item to be added to the official COP agenda. On the surface, this issue may not seem relevant to carbon markets, but we at ClimateTrade believe that the creation of the Loss and Damage Fund will have a positive impact on the adoption of the carbon market. Some of the developing countries that have been fighting for climate reparation have also been reluctant to adopt carbon finance mechanisms, as they have seen the development of the carbon market as detracting from the issue of loss and damage. For that reason, they may have put off carbon initiatives in order not to weaken their argument for the creation of the fund. Now that parties have agreed to set up the Loss and Damage Fund, these countries are likely to feel more comfortable participating in the carbon market as an additional avenue for climate finance, rather than as an avenue to replace it. This could result in increased carbon credit supply and improved global participation in the carbon market. Of course, the COP27 Loss and Damage Fund announcement was only an outline: ClimateTrade will watch developments closely to detect any further impact the fund, its rules or its functioning could have on the carbon market. COP27 carbon market development 3: African Carbon Markets Initiative Another big piece of carbon market news announced at COP27 was the launch of the African Carbon Market Initiative, which aims to produce 300 million carbon credits annually across the continent by 2030, and 1.5 billion credits annually by 2050. The goal of the initiative is to unlock more financing for Africa’s energy transition – specifically, US$6 billion by 2030 and US$120 billion by 2050, all the while supporting over 110 million jobs by 2050. Several African nations, including Kenya, Malawi, Gabon, Nigeria and Togo, joined the launch event for ACMI, which is supported by financiers such as Exchange Trading Group, Nando’s and Standard Chartered. COP27 carbon market development 4: Energy Transition Accelerator U.S. Climate Envoy John Kerry made headlines early in the summit by announcing the Energy Transition Accelerator (ETA) – a public-private initiative to fund renewable energy projects through carbon offsets, with the purpose of accelerating the clean energy transition in developing countries. More details are expected in the coming months. COP27 carbon market development 5: First ITMO trade between Switzerland and Ghana While Article 6 remains to be fully finalized, Switzerland and Ghana have completed the first ever voluntary sale of ITMOs under Article 6.2. With this transaction, sustainable rice farming in Ghana will help Switzerland lower its national emissions, while giving Ghanaian farmers an extra revenue stream. The trade shows that countries do not need to wait for COP negotiations to end to act collaboratively on climate.
Biodiversity credits are the latest tool in the climate action arsenal – but how do they work and what is their role in relation to the carbon market? Biodiversity protection and restoration is one of the key topics at COP27 in Sharm el-Sheikh, and for good reason. Ahead of the UN Climate Change Conference, WWF revealed the catastrophic effect of human activity on biodiversity: according to the Living Planet Report 2022, wildlife populations shrank by an average of 69% between 1970 and 2018. How is climate change affecting biodiversity? Climate change has been identified as one of the most significant threats to biodiversity in recent years. Rising temperatures, changing rainfall patterns, and increased frequency and intensity of extreme weather events such as hurricanes, droughts, and wildfires are already having a significant impact on global ecosystems and the species that inhabit them. Some of the effects of climate change on biodiversity include: Range shifts: species that move to cooler climates as their current habitats have become too warm for them, leading to animal extinctions if they cannot adapt to new habitats. Alterations in migration patterns: Climate change is affecting the timing of seasonal events such as flowering, bird migration, and insect emergence. This can disrupt the delicate balance of ecological interactions and result in cascading effects throughout the food chain. Coral bleaching: Warming ocean temperatures have resulted in widespread coral bleaching, where the colorful algae that live in the coral are expelled, causing the coral to turn white and ultimately die. Changes in phenology: The timing of seasonal events, such as when plants flower and when insects emerge, is shifting due to climate change. This can result in mismatches between species that rely on each other, such as pollinators and the plants they pollinate. Why is biodiversity essential for limiting climate change? Climate change is having a profound impact on biodiversity, and we need to implement strategies to address this urgent global challenge. Reducing greenhouse gas emissions are essential in protecting the planet’s ecosystems and the species that rely on them. If the loss of animal and plant life was not tragic enough, this level of biodiversity loss is hindering our efforts to curb climate change: biodiverse ecosystems like forests, peatlands and oceans are natural carbon sinks, and their efficiency is now at risk. What are biodiversity credits? Voluntary biodiversity credits, including the ones developed by Terrasos and ClimateTrade in May and recently recognized by the World Economic Forum, are economic units representing specific actions for biodiversity protection and restoration. In the case of Terrasos, the credits were generated from the Bosque de Niebla-El Globo Habitat Bank in Colombia, with the support of XM, IDB Lab and Partnership for Forest, with each unit representing 10 square meters of land protected for 30 years. Biodiversity credits are typically created through a certification process that verifies the environmental benefits of the conservation or restoration activities. These credits can then be sold on a market to other developers who need to offset the environmental impacts of their own projects. Biodiversity credits – a new way of funding nature protection The role of biodiversity credits was discussed this week during a World Climate Summit panel on carbon offset markets and their role for biodiversity, held in Egypt alongside COP27. As one of the panel speakers, ClimateTrade CEO Francisco Benedito explained that biodiversity credits are set to allow companies, individuals and governments to go beyond carbon neutrality and become “nature-positive”. “As a former banker I was always worried about how to fund sustainable projects for people without collateral. In a renewable energy project, the collateral is the energy that is set to be produced, for instance. But for biodiversity protection projects there is no collateral. This type of unit – biodiversity credits – is a new way of funding nature protection. Because we need to put money to work to avoid further species extinction,” he noted. Beyond the limitations of carbon markets David Antonioli, CEO of Verra and the panel’s moderator, pointed out that as carbon markets have evolved, their limitations have become clearer. “For instance, to make the REDD+ (reduction of emissions from deforestation and forest degradation) work, you need a plausible imminent threat for the forest, that’s the rationale for providing carbon credits. As you get further away from those threats, these projects still provide sustainable livelihoods but because they’re not located where the threat is, they find it difficult to receive carbon finance,” he said, suggesting that biodiversity credits may be able to fill that gap. Verra itself has started to develop a framework around biodiversity credits to ensure that these units can become complementary to the carbon market. Carlijn Nouwen, Co-Founder of the Climate Action Platform for Africa, gave the example of Gabon, a country with very low deforestation rates that cannot access REDD+ creditsm but is looking to monetize the protection of its biodiverse forest. She also emphasized the need to ensure fair compensation for ecosystem services such as biodiversity conservation in the development of these credits: “As we look at paying for biodiversity and ecosystem service credits, we want to make sure we go over and above the financial recognition of carbon credits. We need to innovate with integrity and hold those two things in the right balance to make sure we get equitable compensation for all ecosystem services.” Regulation and education to push demand When it comes to the sources of demand for biodiversity credits, regulation and education are pushing more and more companies towards this offering.” We know about the Task Force on Nature-related Financial Disclosures, 40% of which is about biodiversity. This is one example of how regulation and education are pushing more and more companies to care. People are starting to see that the biggest climate threat is around biodiversity loss. In fact, in this COP I have seen more people than ever trying to get involved in biodiversity conservation,” said Benedito. As to when the biodiversity credit market will reach the maturity of the
John Kerry, the United States’ climate envoy, unveiled the Energy Transition Accelerator yesterday (November 9) at COP27: a carbon offset plan that comes as the vote of confidence the market needed. The Energy Transition Accelerator is a public-private initiative to fund renewable energy projects through carbon offsets, with the purpose of of accelerating the clean energy transition in developing countries. As our CEO Francisco Benedito said in a letter to the editor published in the Financial Times on November 10, the initiative is exactly what the carbon market needs. Private capital at the service of climate action Announcing the program at COP27, Kerry said the noted that the Energy Transition Accelerator is a way for private capital to support the work of governments and NGOs in transitioning to renewable energy sources. “Our administration is working as hard as we can to deliver on President Biden’s pledge to quadruple U.S. climate support by 2024. We are absolutely committed to doing our part. But no government in the world has enough money to get this job done. We will only succeed with a massive infusion of private capital,” he noted. Under the scheme, developing countries could generate carbon credits by shutting down fossil fuel-based power plants and adopting cleaner energy sources. These credits could then be sold to global corporations looking to offset their own emissions. Transparency will be key to success At a time when the credibility of carbon offsets is sometimes put into question, Kerry’s initiative confirms the validity of this climate finance mechanism, when implemented transparently. But as Benedito explains in his letter to this editor, the real work begins now. “For this program to work, it must be executed with precision and transparency. Companies that purchase these credits will want to know from which country and decarbonization initiative they were generated, and they will ask for a guarantee that credits cannot be sold more than once,” he explains. Of course, blockchain technology can support these efforts as reliable infrastructure that allows stakeholders to trace carbon offsetting transactions, increasing trust, transparency and credibility in the market. We at ClimateTrade hope that the Energy Transition Accelerator will follow best practices and leverage the technical and commercial expertise of the entire carbon market ecosystem. More on this topic: Taking carbon markets to the next level at COP27 Sustainable Innovation Forum
Action and implementation are key priorities at COP27. Luckily, fast and ambitious action is our daily commitment at ClimateTrade. Here are some of the milestones we have accomplished between COP26 and COP27. This year’s Conference of the Parties is fast approaching, and with climate change accelerating, stakeholders from all spheres of society have their eyes on concrete actions. COP27’s slogan is ‘Together for Implementation’, a clear sign that it is time to put words into practice. Where to find ClimateTrade at COP27 Request a meeting with our team in Sharm el-Sheikh At ClimateTrade, we’ve always believed in actions more than in words, and one of our core values is ambition: We want to change the world and that can only be done by thinking big. As a result, moonshots are our daily thoughts. In the year from COP26 to COP27, we have taken big steps in three key areas: the promotion of transparent carbon markets, the enhancement of climate finance, and the protection of nature and biodiversity. From COP26 to COP27: Transparent carbon markets Improving the transparency of carbon markets is our core purpose here at ClimateTrade. here are three ways in which we promoted this objective over the past year: Blockchain decarbonization First, we worked with Algorand to make this blockchain network and its entire ecosystem carbon-neutral. Algorand is already the greenest blockchain network, having reduced its energy use tremendously. In December last year, we launched the Green Treasury, a blockchain oracle providing Algorand and its developer community a platform for offsetting the carbon footprint of the entire Algorand network. Since then, we have also started working with several members of the Algorand ecosystem to help them achieve carbon neutrality. We believe that blockchain technology is key to making the voluntary carbon market as transparent as possible. On blockchain infrastructure, all transactions are traceable and immutable, which means double counting is virtually impossible. But this technology comes with a heavy carbon footprint, which could easily defeat its transparent sustainability purpose. By decarbonizing the blockchain ecosystem, we make sure that transparency doesn’t cause collateral damage. Digital Measurement, Reporting and Verification In February 2022, ClimateTrade and BME concluded a successful proof of concept (PoC) for the digital certification of carbon mitigation projects. The initiative laid the bases for digitizing the verification and certification process for projects that generate carbon credits, and for adding them to national registries. Our goal with this is to make the entire process more efficient and transparent, and to guarantee the quality of the carbon credit supply. Digital Monitoring, Reporting and Verification (D-MRV) is an end-to-end solution that guarantees the authenticity and traceability of carbon credits: project developers can register their mitigation in a public and traceable way, allowing all users to verify the integrity of data. This facilitates the transparent purchase of carbon credits and their automated cancellation. International Emissions Trading Association membership Finally, we recently joined the International Emissions Trading Association (IETA). Our membership allows us to be part of international efforts to create effective and transparent market-based trading systems for carbon emissions and advance the United Nations’ Sustainable Development Goals. From COP26 to COP27: Enhanced climate finance One of ClimateTrade’s missions is to direct flows of capital towards climate change mitigation. We believe that it is necessary to shift the global economy towards a sustainable model to truly protect the future of the planet. To this end, we have taken several key actions in the past year. More than 12,000 carbon offsetting transactions To date, ClimateTrade has facilitated the offsetting of more than 3 million tons of CO2, and since COP26 alone, more than 12,000 transactions have occurred on our marketplace, directing much needed funding towards climate-positive projects. Improved marketplace We have also made design and operational improvements to our climate marketplace, which is now being used by more than 11,000 users. The more people and companies use our marketplace, the more capital will be available for sustainable projects. International expansion Finally, we have opened new offices in Miami and Seoul and participated in more than 100 events to raise awareness about the need for decarbonization worldwide. As part of this thought leadership work, we have also published four different white papers and eBooks to support companies’ Net Zero strategies. From COP26 to COP27: Biodiversity and nature protection Climate action is about much more than just decarbonization; that’s why ClimateTrade has been working particularly hard in the past year to promote nature and biodiversity conservation. Voluntary Biodiversity Credits In May 2022, we joined forces with Terrasos to commercialize Voluntary Biodiversity Credits from the Bosque de Niebla – El Globo Habitat Bank on our marketplace. Each credit corresponds to 30 years of conservation and/or restoration of 10m2 of the Bosque de Niebla, home of threatened species such as the spectacled bear, the yellow-eared parrot, and the black-and-chestnut eagle. Since then, more than 100 credits have been sold on our platform, and this initiative has been recognized by the World Economic Forum. Nature-based solutions Our marketplace currently features more than 30 nature-based solution projects, which capture or avoid carbon through forest, soil and biodiversity protection. We make a constant effort to ensure that we offer carbon mitigation projects that also bring added biodiversity benefits. Blue carbon and regenerative agriculture As part of our research and development work, we have teamed up with several new partners to develop methodologies for blue and white carbon, as well as regenerative agriculture. One of these initiatives is the recently announced Albufera Blue Carbon, in which we are working with Valencia’s CE/R+S (Responsible and Sustainable Companies Association) to quantify the carbon mitigation potential of peatlands in the Valencian Community. To find out more about what we have been up to since COP26, check out our announcements page.
With the world’s largest climate event just around the corner and extreme weather events already causing mayhem around the globe, expectations are at their peak this year. Here are the five advances ClimateTrade expects from the event in Sharm el-Sheikh. 1. Full acceptance of the work of the Integrity Council for Voluntary Carbon Markets The Integrity Council for Voluntary Carbon Markets (ICVCM) is doing tremendous work to bring together the entire carbon ecosystem in setting clear guidelines on carbon credit quality and the functioning of the overall market. It is not easy work, and the Council’s attempt to define Core Carbon Principles (CCPs) has been met with resistance, with certain market players, such as Verra, noting that the process being put in place to guarantee the quality of carbon credits would be “unworkable”. We at ClimateTrade firmly believe in the necessity to build integrity in carbon markets, and that will not be possible without the buy-in of all market participants in initiatives like the ICVCM. In response to Verra’s statement, our co-founder and head of impact José Lindo said to Carbon Pulse: “In my opinion, we are overly focusing on the ‘how’, i.e carbon integrity processes, and rather we should start the debate from the ‘why’ i.e the purpose served by the CCPs, and reflect on legitimate requirements voiced by countries, scientists, environmental organizations, indigenous communities and, obviously, voluntary carbon market players.” For this reason, we expect the Conference of the Parties to reaffirm the role of the ICVCM in helping align carbon credit supply with quality and transparency expectations. 2. Final definition of the Paris Agreement’s Article 6 rules Last year in Glasgow, countries clarified some of the rules of Article 6, the part of the Paris Agremeent that governs the functioning of carbon trading between countries. For instance, it was decided that to avoid double counting, the country where the mitigation project is based holds the power to decide whether the credits should go towards its own Nationally Determined Contributions (NDCs) or be sold internationally, in which case it would be listed as a credit on its records. Negotiations also clarified which of the credits generated under the Clean Development Mechanism (the Paris Agreement’s predecessor) could be brought over to the new system, and set up some rules around taxing carbon trading transactions. But much remains to be defined for Article 6 to become operational. In particular, we expect this year’s conference to determine the mechanisms that will govern the use of Internationally Transferred Mitigation Outcomes (ITMOs), the units meant to be used for the international emissions trading between Parties to the Paris Agreement. 3. Regulating the registration of Nationally Determined Contributions (NDCs) Equally, the system for calculating and registering Nationally Determined Contributions (NDCs), the emissions reductions countries decide to achieve every five years, is currently not regulated, which can lead to wide variations in ambition between countries. ClimateTrade expects COP27 negotiations to define rules as to how these contributions are calculated, communicated and adjusted. 4. No changes in Paris Agreement signatories The current geopolitical landscape, particularly the Ukraine-Russia war, could put the future of the Paris Agreement at stake. As seen with the withdrawal of the U.S. from the agreement following the election of Donald Trump, governments have the potential to weaponize the world’s emissions reduction goals to achieve their political ambitions. We hope this year’s Conference of the Parties will see no changes in Paris Agreement signatories or faltering in their commitments. 5. Inclusion of biodiversity in carbon market discussions As our understanding of climate change grows and climate action matures, it is becoming evident that biodiversity protection should be part of the carbon equation. This year will be the 15th edition of the UN Biodiversity Conference, which has been run alongside the climate change conference so far. We expect COP27 to mark a turning point in the way countries approach these two areas of sustainability, and a recognition that the two are inextricably linked. ClimateTrade is already working to protect biodiversity in the same way carbon is offset (through voluntary biodiversity credits) and we believe the nascent nature protection credit system could learn a lot from the development of a working carbon market.
Tourism contributes to around 8% of the world’s carbon emissions. There has never been a more important time to embrace responsible tourism.
Everything you need to know about corporate sustainability reporting in the EU: from the Non-Financial Reporting Directive to the Sustainable Finance Package and Europe’s Green Taxonomy. Since 2018, certain companies in the European Union have had to disclose information on their environmental and social impact in a yearly report often called the Sustainability Report. The Non-Financial Reporting Directive (NFRD) was adapted into national law in all 28 member states, including in Spain with the Law 11/2018 on Non-Financial Information. But this directive is about to change, with a proposal for a Corporate Sustainability Reporting Directive (CSRD) currently in discussions in the European Parliament. So who has to comply with these directives, and what specific information is required? The Non-Financial Reporting Directive The Non-Financial Reporting Directive (NFRD), published in 2014, required EU member countries to create national legislation to require companies with certain characteristics to publish information beyond their income statements. In particular, these companies are asked to report on social and environmental matters, with the aim of improving sustainability performance. Who has to comply with NFRD NFRD applied to all public interest companies with more than 500 employees, a balance sheet that exceeds €20 million or a turnover that exceeds €40 million. In the EU, this represents about 11,700 large companies and groups, including listed companies, banks, insurance companies and other companies designated by national authorities as public-interest entities. What information should be disclosed The NFRD requires these companies to disclose information about their business model, policies, outcomes, risks, risk management and key performance, as well as key performance indicators around four key sustainability issues: environment, social and employee issues, human rights, and bribery and corruption. Companies must also disclose how sustainability issues may affect the company, and how the company itself affects its community and the environment, this is what the EU calls “double materiality”. The main goal of the NFRD and the sustainability report is to help companies manage the transition towards a sustainable world economy with social justice and environmental protection. In addition, it helps to increase the confidence of investors, consumers and society in general in these companies. The Corporate Sustainability Reporting Directive Last year, the European Commission adopted a proposal for a Corporate Sustainability Reporting Directive (CSRD), which would amend the NFRD. The proposal extends the scope of compliance to more companies, requires the information to be audited and introduces more detailed reporting requirements in line with the EU Green Deal and Green Taxonomy. The proposal sets common European reporting rules to increase transparency, requiring companies to report sustainability information in a consistent and comparable manner. According to the Commission, the new reporting requirements would apply to all large and all listed companies, including listed small and medium-sized enterprises (SMEs), though proportionate standards will be developed for SMEs. Sustainable Finance Package and Green Taxonomy The CSDR is part of the Sustainable Finance Package, which aims to help direct private investment towards the transition to a climate-neutral economy. One important part of the package is the EU Green Taxonomy, which aims to clarify which economic activities contribute most to meeting the EU’s environmental targets. Last February, the European Commission caused controversy by revealing the latest draft of the taxonomy, which includes gas and nuclear as “sustainable” energy sources. This inclusion makes sense for the taxonomy’s mitigation and adaptation objectives, but may be counterproductive for the other four stated goals: water, circular economy, pollution and biodiversity. Now, the Commission is inviting recommendations on how to achieve the remaining four objectives. When will CSRD come into force The first report in line with the CSRD will have to be submitted by companies on January 1, 2024, for the 2023 financial year. This means that there is no time to waste in preparing for this new legislation. ClimateTrade offers a team of experts in non-financial reporting, as well as proprietary digital tools to support companies in this exercise. We can advise and guide your company through the process: get in touch.
Understand how this technology brings innovation and transparency to the carbon market. In the Kyoto protocol (1997) signing countries agreed to limit the emissions of six greenhouse gases, here is where carbon credits were born. This meant that polluting companies, instead of paying taxes to the governments, could pay directly to the companies which generate those credits. Likewise any traditional market, brokers started to speculate and get most of the profit, preventing money from reaching the green projects and hence hindering their development. This not only left unprotected carbon credit sellers but also buyers who could be sold the same credit several times (due to the lack of transparency and traceability of the carbon credits cancellation mechanism). The problem as it usually happens was that the market was centralized in the hands of traditional brokers, who used to manage their own databases which can be manipulated at their own discretion, being able to write, change, delete and restrict access or other actions. The process also becomes more expensive, lengthy and tedious, discouraging many companies from buying / selling carbon credits. ClimateTrade brings this situation to an end, allowing companies and project developers to benefit from blockchain technology. Blockchains are distributed ledgers which replicate the data across the different nodes involved in the network.That is, instead of being centralized on a single server, the information is decentralized on different computers, each saving its own copy. This prevents any record from being changed or deleted, since it only allows adding new data, thus preventing data from being altered or manipulated. The information on a public blockchain is accessible to everyone and visible on any block explorer, facilitating the traceability and transparency of canceled carbon credits. Neither ClimateTrade, nor the creators of the blockchain itself could alter the information since all nodes have replicas of the data and are required to follow the consensus algorithm, which ensures the immutability of the data stored in them. The consensus algorithm used in the blockchains we work with is Proof of Stake. The first blockchains are Proof of Work (Bitcoin and Ethereum 1.0) which involves spending huge amounts of energy to produce new blocks and concentrate the power in the hands of a few miner pools. On the contrary, the Proof of Stake allows to process a greater number of transactions per second, decentralizing the rewards per block to anyone who operates the blockchain token together with a laptop or mobile connected to validate the blocks, thus saving on fees and reducing the environmental impact in more than 99%. To go further in the process of automation, ClimateTrade created a REST API available to company developers who wish to integrate this innovative system. This allows the incorporation of already existing projects called from this API into its code, thus offsetting the carbon footprint generated in their business processes.