Spanish renewable energy company Acciona has associated with Climate Blockchain Initiatives (CBI) to accelerate the global extension of CBI’s blockchain-based purchase-and-sale platform for carbon rights.
Produced by CBI, ClimateTrade is a platform that supports companies and customers to offset their carbon footprint.
The platform links generators of carbon offsets with entities that require to buy them to comply with their carbon footprint decrease targets or with requirements rising from local environmental legislation.
It can also be used by organizations that wish to allow their clients the opportunity of offsetting emissions generated through the procurement of a product or service.
“By committing to the ClimateTrade project, we align ourselves with a triple strategic objective for ACCIONA: the fight against climate change, innovative digitization as a lever for bringing about the energy transition, and social responsibility towards the communities where we develop our projects,” emphasizes Mikel Ortiz de Latierro, Director of Prevention, Sustainability, Environment and Quality of ACCIONA’s Energy Division.
As to what sets ClimateTrade distant from other carbon offset transaction systems, Acciona stated that the usage of blockchain technology considerably accelerated and simplifies the process without jeopardizing security.
The method of selling Certified Emission Reduction (CER) certificates under the Kyoto Protocol, for example, could be finished within 48 hours, instead of the typical two-month timeframe.
Under the alliance, ACCIONA will offer the platform with CER (Certified Emission Reduction) certificates from renewable projects in developing countries, like Chile, Mexico, or Costa Rica, which will be tradable under the United Nations’ Clean Development Mechanism (CDM).
It will also present data on the corporate social responsibility initiatives connected with the renewable projects that are linked to the SDGs (Sustainable Development Goals).
“Working hand in hand with the leading world utility in sustainability on large-scale projects that have high social content and comply with several SDGs means taking the platform to the next level,” ClimateTrade CEO Francisco Benedito stated.
“Thanks to ACCIONA, trust in our company has increased, and this enables us to carry out a higher number of large-scale transactions with corporate clients, as well as giving us the security of being able to undertake new energy-related and carbon offset projects based on ACCIONA’s expertise in the fields of construction, energy, and technology.”
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