SDG Exchange, a sustainability marketplace for carbon credits, has announced the global launch of its platform, which seeks to enable an efficient and transparent global marketplace for carbon offsets in accordance with Article 6 of the Paris Agreement. COP26.
The marketplace enables countries and companies to accelerate compliance with the Paris Agreement through seamless and secure blockchain asset transactions on a global scale.
According to the exchange, all assets listed on the SDG exchange platform are compliant with Article 6 of the Paris Agreement, fully verified by independent third-party audits.
Carbon credits entering SDGx’s Carbon Asset Monetization (CAM) marketplace are registered on the blockchain, thus eliminating the inefficiencies of the current carbon market, including double counting, double printing, double spending and the emerging double retirement. All transactions, guardianship, accounting and retirement are public record through an immutable distributed ledger.
Carbon credits may remain in the form of credits, or may be transferred to a digitally transferred mitigation outcome (ITMO) entity, allowing the transfer of carbon credits between countries and markets on a global scale. According to Article 6, one ITMO is equal to one metric ton of carbon dioxide. Asset transactions are completed via fiat, bitcoin or ethereum.
“SDGX’s platform delivers a market infrastructure with transparency, trust, accountability, efficiency and global value normalization, enabling countries and large private sector players to reach the scale and volume needed to mitigate climate change. global carbon offset markets.
Article 6 of the Paris Agreement calls for a strong global market for the trading of carbon offsets as one of the primary tools for addressing climate change. Five years later, a global consensus on market standards remains elusive.
Earlier this week, Prime Minister Narendra Modi pledged at the COP26 UN climate conference in Glasgow that India would achieve net-zero emissions by 2070.
Speaking in the ‘High-Level Section for Heads of State and Government’ during the 26th Conference of the Parties (COP26) of the UNFCCC in Glasgow, the PM also announced that the country will cut emissions by one billion tonnes from now on projected 2030 .
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