climatechangesblog

[climatechangesblog]

EKI Energy Services on Monday welcomed the government's stance on carbon credits and said that carbon credits and its trade is an imperative for climate positive plans. Union Minister for New and Renewable Energy R K Singh on October 6, said that the government is taking measures to make India a market for carbon credit which will be utilised to meet the country's NDC goals.

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Carbon offsets are questionable, dangerous and far from a good investment for companies hoping to reduce their environmental impact, Australia’s richest man has said.

Andrew Forrest, a billionaire turned philanthropist who made his fortune in mining and minerals, is turning his vast iron ore extraction operation, Fortescue Metals Group, into a zero carbon business.

Unlike most companies, Fortescue is not seeking net zero greenhouse gas emissions but what Forrest described as “real zero”. To achieve net zero, many companies use carbon credits, awarded for projects such as planting trees or preserving existing forests, to count against their greenhouse gas emissions.

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Co-Founder and Director of Carbon Projects at Cool Effect, Dee Lawrence has 14 years of experience in the carbon offset industry. Source carbon credits

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Carbon Credits Platform Raises $2B to Tap ‘Internet of Energy’

The partnership behind the trading platform is designed to marry digital assets and carbon trading products to capitalize on the growing interest of institutional investors in both sectors. Source block works.com

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Bringing the iron and steel industry to net zero by 2050 requires $1.4 trillion of investment, $250 billion of which is for carbon credits, according to Wood Mackenzie.

Currently, iron and steel production together release a total of 3.4 billion tonnes of carbon each year. This represents 7% of total global emissions.

To meet the global demand for steel by 2050, the industry must produce 2.2 billion tonnes of steel.

The industry emits a lot of carbon and is one of the most difficult one to decarbonize.

Wood Mackenzie analyzed in its latest report, “Pedal to the Metal: Iron and steel’s $1.4 trillion shot at decarbonisation”, the what, when, and how of reaching net zero pathway.

Remarking on the report, lead author Malan Wu said that:

“Decarbonising the steel industry is a big task. To meet Wood Mackenzie’s 1.5°C accelerated energy transition scenario by 2050, steel emissions must reduce by 90% from current levels. There is an urgent need to act now to decarbonise the iron and steel sectors. Business as usual is no longer sustainable.” Source carbon credits

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Salesforce aspires to democratize the process of buying carbon credits. With a new platform scheduled to debut next month at netzero.salesforce.com, businesses will be able to buy carbon credits from a trusted partner with a third-party verification.

The Net Zero Marketplace will officially launch in October at the VERGE 22 conference in San Jose, representing 90 projects from project developers Climate Impact Partners, Cloverly, Lune, Pachama, Respira International and South Pole. Calyx Global and Sylvera will provide the third-party ratings using independent verification methodologies. The platform is built on Salesforce's Commerce Cloud, which integrates directly with the Salesforce Net Zero Cloud sustainability management software application. But even businesses that are not customers of Salesforce can purchase credits through the platform, the company said.

"What we're aiming to do with the marketplace is create something of a first of its kind in terms of openness, transparency," said Patrick Flynn, senior vice president of sustainability at Salesforce. "Where everyone — individuals, organizations — can take action by supporting carbon projects."source green biz. Com

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Union MoS for Railways Raosaheb Patil Danve announced that Indian Railways has achieved 100% electrification on four of its zones namely — East Coast, South Eastern, Eastern and Central Eastern Railway. This development is in line with the Indian Railways’ aim of becoming the largest Green Railways in the world and further moving towards becoming a “net zero carbon emitter” before 2030. Danve took to Twitter to make the announcement and stated that besides reducing carbon footprints, this will also enable seamless passenger and freight movement.

According to a report, if Indian Railways achieve the “net zero carbon emitter” goal, it could lead to an annual emissions reduction of at least 15 million tonnes of CO2. This could further help meet 5% of India’s Nationally Determined Contributions target and also save Rs 17,000 crore in fuel costs and other savings per year. Recently, the Indian Railways also registered a growth in passenger traffic revenue and automobile traffic. Source financial express.com.

[climatechangesblog]

Hundreds of companies plan to achieve their climate goals using carbon credits to offset the emissions they can’t eliminate on their own. Soon there might not be enough of the credits to go around.

Despite record demand for carbon credits last year, supply of new offsets has still outpaced demand. That has created a surplus that has has kept most carbon credits cheap. Source livemint . Com

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Last year, the India division of the World Resources Institute (WRI), a global research non-profit, designed a mock carbon credit trading marketplace and invited 20 leading listed companies to participate. In three rounds of trading held over a 12-month period, WRI, and its test participants, learnt exactly how not to create a lopsided carbon market.

“A carbon market will fail if you start off with only energy-intensive industries like cement or steel,” Ulka Kelkar, director, climate program, WRI India, told Moneycontrol.

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Monetising carbon credits: How Indian farmers can benefit

Poor soil health and decreasing profits plague Indian farmers. Selling carbon credits might be the opportunity that addresses these problems. Source idronline.org

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TOKYO, Sept 22 (Reuters) - Japan started a trial trading of carbon credits on Thursday at the Tokyo Stock Exchange (TSE) as the world's fifth-largest carbon emitter aims to create a nationwide market mechanism to meet its goal of becoming carbon neutral by 2050.

The TSE, a unit of Japan Exchange Group Inc (8697.T), has been commissioned by the Ministry of Economy, Trade and Industry (METI) to conduct the pilot project as the ministry prepares to set up the first exchange-based market for trading carbon credits in Japan, to help participants offset their emissions or monetise reduced emissions. Source Reuters.com

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This episode is sponsored by Circle and Near.

A Part 2 climate change edition from Lisbon, Portugal at Nearcon2022.

On this episode of “Money Reimagined,” hosts Michael Casey and Sheila Warren are still together at Nearcon2022 for a second discussion on carbon credits and climate change.

They speak with guests Robert Schmidt, chief operating officer and co-founder of Toucan, and Phil Fogel, chief blockchain officer and co-founder of FlowCarbon.

I.D.E.A.S. 2022 by CoinDesk is the place to see your idea for the next big thing through – meet with leading investors, vet service providers and meet fellow visionaries at the Investing in Digital Assets and Enterprises Summit. Learn more and apply to become a presenter today: coindesk.com/ideas

[climatechangesblog]

Business-software provider Salesforce Inc. is launching a marketplace for carbon credits that it says will tackle transparency and quality issues in the fast-growing field.

The San Francisco-based company said Tuesday that its latest platform, called Net Zero Marketplace, is set to go online in October with close to 90 projects selling carbon credits that support programs such as forestry, soil health and renewable-energy in the developing world, among others.

Salesforce brought together some of the biggest environmental project developers, including Climate Impact Partners and South Pole, and ratings agencies Calyx and Sylvera. Credits carry identifications after receiving verification from a registry, the largest being the nonprofit Verra’s Verified Carbon Units or VCUs. The platform will be available first in the U.S. and in other countries later. Source ask.com

[climatechangesblog]

Business-software provider Salesforce Inc. is launching a marketplace for carbon credits that it says will tackle transparency and quality issues in the fast-growing field.

The San Francisco-based company said Tuesday that its latest platform, called Net Zero Marketplace, is set to go online in October with close to 90 projects selling carbon credits that support programs such as forestry, soil health and renewable-energy in the developing world, among others.

Salesforce brought together some of the biggest environmental project developers, including Climate Impact Partners and South Pole, and ratings agencies Calyx and Sylvera. Credits carry identifications after receiving verification from a registry, the largest being the nonprofit Verra’s Verified Carbon Units or VCUs. The platform will be available first in the U.S. and in other countries later. Source ask.com

[climatechangesblog]

Salesforce, the global leader in CRM, introduced Net Zero Marketplace, a trusted platform that makes carbon credit purchases simple and transparent, allowing organizations to accelerate climate-positive impact at scale.

The global voluntary carbon market is estimated to grow to $50B by 2030 as many organizations race to achieve their net zero commitments. Yet, organizations may not always know how to build a carbon credit portfolio — or even where to start. What’s more, the path to purchasing carbon credits is complex, and buyers want to trust that the carbon credit projects have a positive impact.

Net Zero Marketplace, built on Salesforce’s Commerce Cloud, connects buyers and ecopreneurs — environmentally-focused entrepreneurs who lead and drive climate action worldwide — offering a catalog of third-party-rated carbon credits and a seamless eCommerce experience for purchasing them. Net Zero Marketplace also features a climate action hub where anyone — businesses or individuals — can learn about climate issues.

“The uptick in extreme weather events shows that no one is spared from climate change — we need smart climate solutions now,” said Suzanne DiBianca, EVP and Chief Impact Officer, Salesforce. “Businesses aiming to achieve long-term emission reductions can complement their efforts with high-quality carbon credits. Net Zero Marketplace brings together Salesforce’s values, technology, and commitment to ecopreneurs to accelerate climate action. Source excesscomputor

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How to Buy Carbon Credits in the UK – 4 Easy Steps

In the UK, carbon credits trading is facilitated by governmental authorities under the Emissions Trading Scheme. However, for the average investor, the more seamless option is to gain exposure to carbon credits via ETFs, stocks, or other accessible trading instruments.

Irrespective of the chosen asset, investors should first have a trading account.

Follow the steps below to learn how to invest in carbon credits in the UK via a regulated broker.

Step 1: Open an account with a regulated broker – The first step is to choose a broker that is regulated by the FCA, the financial watchdog in the UK. Next, visit the broker’s website to open a trading account. For this, investors will need to provide some personal information and complete a quick KYC procedure.

Step 2: Deposit funds – After creating the account, investors will then need to ensure that it is sufficiently funded. Depending on the chosen broker, funding can be facilitated via a bank transfer, credit/debit card, or e-wallet.

Step 3: Choose a carbon credit instrument – Next, search for the specific carbon credit market on the platform. Once the right asset is found, click on it to proceed.

Step 4: Buy carbon credits in the UK – Finally, place an order to ‘buy’ the chosen carbon credits instrument. Investors will have to specify the amount they wish to invest in the chosen asset.

After confirming the order, the broker will carry out the trade on the investor’s behalf. The value of the carbon credits investment can be monitored via the brokerage account portfolio.

You can buy carbon credit assets in the UK using regular stock brokers such as eToro. Source business 2 community.com