New opportunities for Colombia in the international carbon market

This XM release was published using machine translation.

The fourth industrial revolution is a reality that combines technologies and blurs boundaries between the physical, biological and digital world.

In this new context, it is imperative that new technology platforms are at the service of sustainability. In this new context, it is imperative that new technology platforms are at the service of sustainability.

In order to stimulate the carbon market, helping to face the effects of climate change and contribute to the Sustainable Development Goals - ODS, EcoRegistry, a pioneering platform in Colombia and Latin America for the registration of projects and emission reduction certificates for the carbon market, and Climatetrade, the Spanish marketplace for the purchase and sale of carbon certificates, articulated their systems by expanding borders.

With this connection, new markets are opened in Europe for Colombian emission reduction projects registered in EcoRegistry, and at the same time, new compensation opportunities are offered to international companies through the different services that Climatetrade has.

“The European continent has committed to reducing its GHG emissions by 2030 by at least 55% compared to 1990 levels. This, with the goal of achieving carbon neutrality by 2050. The goal includes 225 million tons reduced carbon, which raises a signal for European companies to reduce and offset their emissions and an opportunity for Colombia and the mitigation projects that are emerging as a result of the carbon tax and its non-causation mechanism, ”said Francisco Benedito, CEO of Climatetrade.

The automatic connection in EcoRegistry and Climatetrade is due to multiple aspects, one of them is their technology, these two platforms were developed with Blockchain technology, which allows them to be more cost efficient, reliable, secure and transparent, guaranteeing the traceability of the information . Thanks to its qualities, blockchain technology has been embraced and promoted by organizations such as the World Bank and the United Nations to fight against climate change.

“In this new era of climate markets, we are going to need an architecture based on blockchain , data analytics, the internet of things, smart contracts and other disruptive technologies that EcoRegistry and Climatetrade have been promoting as pioneers in Ibero-America and members of the Climate Chain. Coalition. This will make it possible to avoid double counting phenomena, efficiency in operations and improve GHG quantification capacities, qualities necessary to increase transparency and strengthen the carbon market at a global level ”, reported Ana Mercedes Restrepo, Director of Strategy and Innovation at XM.