In an effort to increase accessibility to tokenised carbon credits, several companies are joining forces to link their services. This initiative aims to create a more efficient and transparent marketplace for these credits, ultimately supporting the fight against climate change. One company, Xpansiv, a provider of environmental, social, and governance (ESG) data, will collaborate with Climate Impact X (CIX), a platform focused on developing sustainable infrastructure projects. Together, they plan to connect Xpansiv’s tokenisation platform, Universal Emissions Tokens (UETs), with CIX’s carbon credit projects.
This collaboration comes as Africa’s first international carbon standard registry, the African Carbon Exchange, launches. The registry will facilitate the trading of carbon credits, bringing investment opportunities to African countries while promoting sustainable development on the continent. The African Carbon Exchange aims to provide a platform for verified carbon offset projects, enabling businesses and individuals to support emission reduction efforts.
The partnership between Xpansiv and CIX will leverage blockchain technology to tokenize carbon credits and create a marketplace where buyers and sellers can trade these assets easily. By linking their services, they hope to unlock the potential of carbon credits and attract global investors to support climate initiatives in Africa.
Tokenisation is a process that transforms an asset, in this case, a carbon credit, into a digital token that can be easily traded on a blockchain platform. This technology allows for increased liquidity, transparency, and traceability. By tokenising carbon credits, Xpansiv and CIX aim to democratise access to these assets, making them more readily available to businesses and individuals looking to offset their emissions.
The Universal Emissions Tokens (UETs) developed by Xpansiv will serve as the digital representation of the underlying carbon credits. These tokens will be backed by real-world assets, providing trust and credibility to the marketplace. Xpansiv’s platform will also offer robust data analytics and reporting capabilities, allowing users to track the environmental impact of their investments.
The collaborative effort between Xpansiv and CIX is an important step in unlocking the potential of carbon credits in Africa and beyond. By offering a streamlined and transparent marketplace, this partnership aims to attract more participants, increase liquidity, and ultimately accelerate the transition to a low-carbon economy. With the launch of Africa’s first international carbon standard registry, the stage is set for African countries to tap into the growing demand for carbon credits and create sustainable development opportunities for their communities.