Flowcarbon, a leading climate tech company that vertically integrates across the voluntary carbon market, has been selected by Gold Standard to participate in its official “Readiness Phase” for tokenizing carbon credits integrated with the Gold Standard Registry.
As part of this newly announced program, Flowcarbon will play a key role in working with Gold Standard to finalize guidelines that will inform tokenization of VER credits issued by Gold Standard, one of the world’s largest and most credible carbon crediting standards bodies and registries.
“We are honored to have been chosen to help lead such a groundbreaking effort to finalize the guidance by which companies like Flowcarbon can create high integrity tokens backed by Gold Standard’s credits,” said Dana Gibber, CEO and co-founder of Flowcarbon. “This is a momentous step towards a more transparent and accessible voluntary carbon market, enabling scale and greater investment into carbon projects with immediate impact on climate change, biodiversity, and developing world communities.”
As a pioneer in the creation of carbon credit tokens, Flowcarbon has been an active member of Gold Standard’s Working Group on Digital Assets for Climate Impact as well as its Consultation on Digital Assets, through which Flowcarbon has helped Gold Standard evaluate the advantages of applying distributed ledger technologies to carbon markets.
Putting carbon credits onto blockchain and allowing them to be transacted as tokens will bring much needed transparency and liquidity to the voluntary carbon market, which it has historically lacked. The structural challenges underlying the voluntary carbon market keep it from growing at the pace it needs to in order to meet crucial climate goals, and blockchain is a key solution to address these challenges.
Gold Standard’s process involves a “readiness phase” for a new digital asset model for tokenizing its carbon credits, as well as engagement on the development of enabling software.
“Open collaboration and transparency are of the highest importance to Gold Standard, with voluntary public consultations and participation in working groups standard practice for our organization,” said Gold Standard CEO Margaret Kim. “With collaborative work such as this, we aim to encourage the creation of effective and inclusive digital solutions to achieve the high-functioning and inclusive carbon market needed to address the climate emergency.”
Flowcarbon is a leading climate technology company working to make carbon markets accessible and transparent, enabling maximum capital to be invested directly into projects that combat climate change. Flowcarbon is committed to driving impact for people, biodiversity, and the planet. To learn more about our work, visit our blog.