How ClimateTrade Is Helping Reduce CO2 Emissions
ClimateTrade is the world's first blockchain-based climate marketplace. ClimateTrade helps companies achieve carbon neutrality using innovative carbon emissions offsetting services. The platform allows companies to invest in global climate mitigation projects verified by world standards. Recently ClimateTrade began operation in the European Union mandatory carbon market after completing its admission with the European Energy Exchange.
Since ClimateTrades' establishment in 2017, it has facilitated offsetting over three million tons of CO2. Climate Trade has been successful because, unlike other climate initiatives, ClimateTrade allows companies and users to ensure the end-to-end traceability of carbon credits using blockchain technology. With global warming increasingly becoming a major issue worldwide, achieving carbon neutrality is necessary. ClimateTrade helps users achieve carbon neutrality in three steps: assessing users' emission profiles, reducing them whenever possible, and offsetting emissions that users can not reduce by purchasing carbon offsets. This allows users to become carbon neutral.
ClimateTrade has over 300 companies registered representing a variety of industries from hospitality to financial institutions and telephone companies. There are also over five thousand individual users using the ClimateTrade platform and over 50 different projects in over 20 countries for users to offset their carbon footprint. When a ClimateTrade user books a flight, the ClimateTrade program automatically calculates the amount of carbon the trip will use and will show the user how much it will cost to offset the trip. Then it will allow them to choose one of 50 different climate projects to offset their carbon. At the end of the year, ClimateTrade will calculate how much carbon users and companies use and allow them to offset their carbon footprint.
In May 2022 Spanish Bank Banco Santander launched a climate initiative using the ClimateTrade platform. This allows retail customers in Spain and Chile to purchase carbon credits on the ClimateTrade platform and Mastercard donation platform to offset their CO2 emissions. Customers are now able to measure the carbon footprint of their purchases they make with their Santander accounts and payment cards. Since Climate Trade’s marketplace leverages the blockchain, all transactions, which are processed through the Mastercard donation platform, are traceable. This makes sure that all the carbon will indeed be offseted and help the environment.
Fran Benedito CEO and Co-Founder at ClimateTrade
I recently spoke with Francisco Benedito, the Chief Executive Officer, and Co-Founder at ClimateTrade, at the Aviation Festival Americas in Miami. Mr. Benedito shared with me the importance of individuals achieving carbon neutrality in addition to companies in order to maximize impact. We also discussed ClimateTrade’s focus on airlines. Prior to the pandemic ClimateTrade worked with Spanish carrier Iberia and are in the process of working with other airlines. In its marketplace projects, ClimateTrade also has CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) which airlines preferably use. Recently, ClimateTrade announced the signing of a third agreement with a government to help neutralize their carbon footprint. ClimateTrade offers users from all over the world an easy way to become carbon neutral. This not only helps with the ever-pressing global warming issue but also helps save countries worldwide with supporting ClimateTrade’s multiple climate projects.
