ZERO13 aims to create an interconnected global carbon credit ecosystem
Using AI and blockchain technology, ZERO13 will offer digital issuance, trading and settlement for a range of carbon credits and other ESG assets.
ZERO13 will work to connect banks, fintechs, climate techs and other institutions, to help them achieve net zero.
Carbon credits are in high demand among corporations and institutions, but GMEX claims a lack of trust, efficiency and distribution hamper take up.
ZERO13 aims to bridge these gaps to help the carbon credit market grow and develop.
The global credit carbon market was valued at $978.56b last year. The demand could increase by a factor of 15 by 2030, and up to 100 by 2050, estimates The Taskforce on Scaling Voluntary Carbon Markets.
For the project, ZERO13 has partnered with Verdana Eco-Consortium, Alléo Energy and Pay DIRT to provide transparency, prevent green washing and enhance distribution.
Hirander Misra, chief executive officer of ZERO13 and GMEX Group, said: “ZERO13 provides a desperately needed, interconnected global carbon ecosystem for all types of participants, in a regulatory compliant manner, to more efficiently match supply with demand.”
He added: “It’s a privilege to collaborate with Verdana’s Eco-Consortium to digitally address the end-to-end issues in voluntary carbon markets and to unlock carbon credits supply from partners such as Pay DIRT and Alléo Energy, bringing trust by demonstrating full digital provenance.”
Asad Sultan, chief executive officer of Verdana and co-founder of Eco-Consortium, commented: “To ensure greater credibility with institutional and corporate market participants, the supply of all types of carbon credits should be transparently verifiable and then securely tradeable in regulated markets.
“Our partnership with ZERO13 aims to make carbon credits and related ESG markets more trusted and efficient using a digitally integrated approach.”