Carbon Credit Exchange will trade Brazilian bonds in the world. Photo: Gerd Altmann, Pixabay.
In early 2022, AirCarbon Brasil, the country’s first carbon credit exchange, goes into operation. However, its operations are global, as the negotiation of credits here will be in other markets. This is because an initiative is a partnership of the Brazilian BlockC, which has an m blockchain platform for decarbonization projects, the AirCarbon Exchange of Singapore and the city of Rio de Janeiro.
BlockC focuses on companies. Singapore’s AirCarbon Exchange already operates in markets such as Abu Dhabi, England and Canada. The exchange accounts for about 10% of the global voluntary market for carbon creditsThe. The daily movement is for negotiation of 200 thousand tons of CO2 and around US$ 1 million. Its portfolio comprises 180 companies in 29 countries.
According to BlockC, the carbon credit exchange will use the same market architecture as the AirCarbon Exchange. “The platform makes the traditional commodity trading infrastructure available to carbon markets. For companies that operate in Brazil and need to mitigate their emissions, the main attractions should be substantially lower commissions than those found today in the over-the-counter market in bilateral transactions”, says Carlos Martins, CEO of BlockC.
Carbon credit exchange will be in Rio de Janeiro
“The support of Brazilian carbon project developers will be essential for the success of this market in the country. We have received expressions of interest and support from several of these local project creators, who are extremely enthusiastic about our initiative,” said BlockC CEO Carlos Martins at COP26.
Eco92, which took place in Rio, “has given birth to all the others on global climate governance. The city has pledged to become neutral in emissions by 2050. In addition, we have the third largest urban forest in the world.” That’s what Rio’s secretary for Economic Development and Innovation, ChicĂŁo Bulhões, said during “Rio+30”, which was part of the COP26 program, where he announced the scholarship.
BlockC’s founders, who will now have the carbon credit exchange, are professionals with experience in environmental assets and greenhouse gases (GHG). The goal is to develop blockchain projects that help with transparency. This is because it is possible to control more securely the data, where the credits come from and where they go, for example.