Hong Kong-based start-up, ProMEX, has launched a carbon marketplace platform that allows customers to buy, hold and sell carbon credits using their smartphone. ProMEX’s platform cuts out intermediaries and, via a centralised order book, matches buy and sell orders with trades settled for both sides instantly. Every verified individual or corporation with a minimum of one tonne of CO2 to retire or transfer can sign up to use the platform. Voluntary carbon markets, which are more widespread in Europe than Asia, have a key role to play if the Paris Climate Agreement targets are to be met. These markets are aimed at companies or individuals looking to offset their carbon emissions by buying credits from projects that reduce carbon emissions, such as renewable energy projects.
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The restructuring capability of blockchain and the concept of carbon credits.
Blockchain technology is being used to create a more transparent and efficient carbon credits market. The global carbon credit market...
