Valencia, Spain and Glasgow, Scotland – (November 8, 2021) – Alongside the UN COP26 meeting in Glasgow, Scotland, ClimateTrade, a pioneer in climate markets since 2017, today announced that it has incorporated the digital carbon registries of Spain and Colombia onto its climate marketplace. This marks the first time that a carbon trading platform has connected directly with national registries, allowing real-time offset cancellations and transfers, stimulating local projects and real-time outcomes generation.
The news was delivered today by CEO Francisco Benedito, during a panel discussion at the COP26 Sustainable Innovation Forum entitled: “Natural Capital: How We Make Nature Bankable.”
“ClimateTrade aims to offer governments and project developers a more efficient, less costly way to generate revenue for their capital nature, while allowing project developers and offset purchasers in these nations access to a secure, traceable, and verified climate registry, simplifying carbon credit accounting while maximizing value and impact,” said Francisco Benedito, CEO of ClimateTrade.
“By extending our platform into Spain and Colombia, we can offer those nations greater fairness in carbon pricing, bring more of their projects to market, and fulfill demand for verified credits from companies racing to zero their emissions,” he continued. “Thanks to our digital registry, and interconnected digital measurement, reporting and verification, we can allow project developers to generate their credits in real time, reduce the price for their generation and add more innovative digital methodologies to connect developers and purchasers.”
Establishing and connecting climate registries is a critical step in addressing the carbon market challenges posed in the Paris Climate Accords, and aids in bringing public and private markets into alignment with such international agreements. The ClimateTrade platform currently works with Ecoregistry and Iberclear (BME & SIX Group), but invites collaboration from others as well. “Our partners have seen the importance of a unified, transparent and collaborative system like ClimateTrade, and we invite other registries to join us as well in creating a more holistic, interdependent and collaborative platform for climate action,” Benedito said.
ClimateTrade’s ecosystem allows companies to easily offset their climate footprint by investing in verified environmental projects through disruptive blockchain technology. The company hosts a diversity of projects on its platform, from renewable energy, waste, reforestation, REDD+, NbS, soil, removals, blue carbon, and recently biodiversity and resilience – all aligned with the United Nations Sustainable Development Goals and helping to push forward its 2030 sustainability agenda. ClimateTrade’s proprietary API adds further value to its network, allowing companies to provide micro-offsetting in any commercial transaction. By means of a simple connection with the API, ClimateTrade partners can offer their customers the option to purchase offsets, and receive an official personalized certificate, while purchasing products and services.
ClimateTrade is already a leader in the voluntary carbon market, serving corporations like Santander bank, Melià Hotels Int., Cabify, Telefónica, Prosegur, Suez, Sacyr and many others. ClimateTrade’s marketplace functions as a showcase for climate change mitigation projects, connecting project developers to companies with offsetting needs. Unlike conventional carbon markets, historically managed by brokers or commodity traders, ClimateTrade’s marketplace automatically records transactions and cancels credits in the corresponding registry, providing transparency, traceability and speed while eliminating the possibility of double accounting and greenwashing impediments. ClimateTrade’s blockchain technology reduces the costs involved in verifying transactions, by removing the need for trusted third-parties. ClimateTrade also recently partnered with Algorand, a leading blockchain technology company, pledging to be the greenest, fully carbon neutral blockchain as a result of their alliance.
ClimateTrade is the world’s leading climate marketplace. The company’s environmental services help companies offset CO2 emissions and financing projects in order to achieve their sustainability goals with complete transparency and traceability. A pioneer in establishing a voluntary marketplace for climate credits, and having led the development of blockchain, ClimateTrade has launched a digital solution that allows and promotes the acquisition of carbon-neutral products and services by customers and suppliers of different companies. Contact us to find out more.