Climate FinTech Join Forces To Launch Exchange For Trading Tokenized Carbon Credits
Climate finance firms ZERO13 and ESG1 set to launch crypto exchange for trading tokenized carbon credits.
Climate fintech ZERO13 has entered into a strategic partnership with digital assets and Environmental, Social, and Governance (ESG) solutions provider ESG1 to build a multi-chain exchange platform for trading large-scale and high-integrity carbon credits generated by disruptive emissions removal technologies.
ESG1 And ZERO13 Partner To Build Crypto Exchange For Trading Carbon Credits
According to a press release on September 16, the “automated digital pipeline” will allow North American industries to sell carbon credits to interested parties in Europe and the Middle East, two global markets with the highest demand for the digital assets.
ESG1 was founded by GuildOne, a Canadian blockchain firm that specializes in developing digitization projects for major players in the oil and gas industry. The company provides innovative digital asset data infrastructure, smart contract technologies, and ESG solutions to help energy companies meet the challenges posed by climate policies.
Meanwhile, ZERO13 is an initiative by London-based global market infrastructure company GMEX Group that facilitates a digital climate aggregation ecosystem.
Project Leverages Blockchain, AI, And IoT Technologies For Tracking Industrial ESG Data
Both companies are hoping to close the $100 trillion gap in climate finance and ensure the availability of verifiable and trackable ESG data by leveraging blockchain, artificial intelligence, and Internet of Things (IoT) technologies.
ZERO13 employs an interoperable blockchain ecosystem powered by an automated AI that enables carbon stakeholders to assist governments, corporations, and ESG investment markets in adopting climate initiatives that help them achieve their Net-Zero targets.
ESG1 issues private, carbon-based digital tokens on the Cardano (ADA) blockchain for regulated industries. The company works with leading energy, cleantech, and verification agencies to issue carbon assets that are embedded with IoT device provenance and AI-powered analytics and reporting mechanisms.
Going forward, ESG1 will be facilitating all transactions on ZERO13’s multi-chain trading and settlement network. The new exchange will be the coming together of ESG1’s digital measurement, reporting, verification, and tokenization (MRVT) system and ZERO13’s trading hub.
Other Exchanges And Digital Asset Custodians Expected To Join The Initiative
In a statement announcing the deal, James Graham, CEO of GuildOne and ESG1 said that the company was proud to partner with ZERO13 to share Canada’s advanced carbon emission standards with the world and also build “automated, scalable, and IoT-integrated” carbon markets.
Hirander Misra, CEO of GMEX Group and ZERO13 added that customers will soon be able to purchase “high-quality” tokenized carbon credits issued by ESG1 on its multi-chain trading platform. He also said that the company is looking to maximize the distribution of the asset by adding other exchanges, digital asset custodians, and market participants to the mix.