Flowcarbon, a leading provider of carbon reduction solutions, and ALLCOT a veteran carbon project developer, today announced a partnership to pilot the development of a “blockchain-first” carbon reduction project. This first of its kind program will conduct the full carbon credit creation lifecycle, from inception to issuance to retirement, on blockchain.
On-chain issuance of carbon credits allows buyers and validators to quickly and transparently access key data underlying credit issuance and certification, allowing certification processes to run more efficiently. Buyers, both individual and corporate, seek greater transparency, quality assurance and seller accountability in carbon transactions.
“Flowcarbon is proud to partner with ALLCOT to pioneer a new model for transparency and credibility in the carbon market, by leveraging the immutable and efficient record-keeping and data processing of blockchain to create and transact in carbon credits. As part of this partnership, our tokenization architecture ensures that key data associated with each credit is maintained and traceable, and that the credits themselves will trade in a liquid, accessible, and open manner, showing how blockchain as a technology infrastructure can be a key tool for scaling the voluntary carbon market.” Dana Gibber - C.E.O, Flowcarbon.
Tokenization of carbon credits from inception brings additional data transparency, lowers monitoring costs for third-party verification, and allows tokens to be programmed with useful features where payouts can be more dynamically linked to achieving key impact milestones. Through this partnership, Flowcarbon and ALLCOT will help unlock a high impact technology that creates the next generation of carbon credits that are substantially more transparent, auditabile and efficient.
“Increased financing for climate change mitigation and adaptation programmes is required to meet the Paris Agreement objectives. Carbon credit tokenization can play an important role in improving the efficiency and transparency of carbon markets in order to achieve these goals. Finding new ways to engage more players in carbon compensation while improving co-benefits for the community and biodiversity is a powerful value proposition and ALLCOT is delighted to team up with Flowcarbon in this ambitious mission.” Raphaël De Ry - C.E.O ALLCOT Sports & Tech Ltd.
Flowcarbon is a pioneering climate technology company facilitating carbon reduction and removal solutions. Its mission is to make carbon markets accessible and transparent, enabling the efficient and early flow of capital to be invested directly into projects that combat climate change. Flowcarbon is committed to driving real impact for people, biodiversity, and the planet. To learn more about our work, visit our blog.
Since 2009, ALLCOT provides innovative solutions to combat climate change and promote sustainability through project development, carbon markets, and advisory services. ALLCOT’s vision is to lead and accelerate the global transition towards a climate-neutral society by 2050. ALLCOT’s unique approach is based on Article 6 of the Paris Agreement, its linkage to the SDGs, non-market approaches, and other market Mechanisms. Visit our website to learn more about ALLCOT.