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The Spanish company Correos will offset the carbon footprint of its customers through ClimateTrade

The Spanish company Correos will offset the carbon footprint of its customers through ClimateTrade 746 420 Climatetrade

Currently, we are developing a pilot program called “Correos Compensa” with the parcel and telegraph shipping company, Correos.

This will allow Correos to offer its customers and partners offset their carbon footprint. The pilot program was presented in December in collaboration with Banco Santander, which will be the company that purchases the initial loans during the World Climate Summit in Madrid.

Correos is determined to offset the carbon footprint of all letters and packages delivered with ClimateTrade by next year. 160,000 tons will be offset directly with ClimateTrade in early 2020.

The funds generated by Correos will go to Acciona, a Spanish environmental company that manages multiple projects to reduce carbon dioxide (CO2) emissions.

Carbon-offsetting-platform

ClimateTrade, key green finance service provider

ClimateTrade, key green finance service provider 519 389 Climatetrade

The British Embassy in Spain highlights ClimateTrade as a key provider for green finance in its recent publication made in alliance with Afi, finance school, about the development of the UK and Spanish green finance sectors. In particular a comparative study of the evolution and development in both markets.  

The transition to a decarbonized economy is one of society’s biggest challenges. For this reason, today it is one of the elements receiving the greatest attention by public authorities as well as economic and financial agents. Meeting the objectives and leading the global transition to a low carbon economy will require unprecedented levels of investment in green and low carbon technologies, services and infrastructure.

The report includes both policy and commercial elements in its analysis of this market and a directory detailing a range of companies that work in this area, which we are proud to be a part of. 

The main objective is to identify the opportunities for the Spanish and British economic sectors through the identification of solutions and their providers so that the transition process can be as quickly and efficiently as possible.

This report is a useful tool for companies and policymakers for identifying key areas for the UK and Spain to work more closely together in the development of this important area of financial services moving forward.

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ClimateTrade, the climate marketplace that comes to “break” the carbon market

ClimateTrade, the climate marketplace that comes to “break” the carbon market 950 612 Climatetrade

Interview with Francisco Benedito, CEO of ClimateTrade.

The platform connects buyers of carbon emission rights with sustainable projects developers reducing the transaction cost by 30 to 40%.

We came to break this sector as Airbnb did with the rental housing or Booking with hotels“, says Francisco Benedito, CEO and co-founder of ClimateTrade, marketplace devoted to the carbon credits sale. “In the end what we do is eliminating intermediaries and connecting both parties. It’s a kind of  Ebay or Wallapop”, he adds.

Carbon markets, as Benedito explains, arise in 1997 to force companies that pollute to pay for it and channel this money towards green projects that somehow offset CO2 emissions. In this way, sustainable companies obtain certifications that they can sell to polluting companies. “There is a compensation effect. If a company that pollutes, generates a ton of CO2 and, on the other hand, there is a company that does the opposite, this emission is offset”, explains the CEO of ClimateTrade.

He adds, that this market has been traditionally led by brokers, who take most of the profit as, “they not only voluntarily increase the price of the product, but they also put pressure on sustainable projects to get the credits at a lower price“. Companies that developed actions to tackle climate change in this situation “do not receive a fair price”. In addition, Benedito points out, certain fraudulent practices were generated from this practise, as many companies sold their credit rights “without cancelling them in the registry”.

The CEO of ClimateTrade, together with several colleagues experienced in the financial sector, decided in 2019 to launch their climate platform in which they implemented the use of blockchain technology “to generate a solution against climate change”. “We use blockchain technology to guarantee that, actually, carbon credits are cancelled in the corresponding registry, and to ensure that the money from the sale goes directly to the source of the project“, Benedito explains.

In our platform you can find the projects where to offset your carbon footprint and you can select the one you like best” he says. In addition, he points out that through this mechanism the platform manages to reduce the costs of the transaction between 30 and 40% and also the time spent in the sale that goes from the 2-3 months it used to take before, to five minutes on the platform. He indicates that the price of the carbon credit equivalent to one ton of CO2 varies depending on the value of the intangibles, but the global average price is 15 euros per ton, while in Europe, the “largest market in the world”, the average price is 25 euros per ton of CO2.

ClimateTrade is currently working with more than 20 international companies with more than 150 projects, which give access to more than 1,000 projects worldwide. It has more than 25 corporate clients and more than 3,000 individuals and ClimateTrade expects close this year with a turnover of between 1.5 and 3 million euros. “The next step is to grow the platform worldwide as much as possible in strategic countries, increase the turnover and the number of customers. That is the top priority”, says Benedito.

Among the companies we are working with, there are large multinationals such as Iberia, Telefónica, Meliá Hotels or Danone. One last important corporation to join in was the energy company, Acciona, with them we have closed a strategic alliance in February to empower the climate trading platform for carbon emission rights. “We hope to be a strategic partner for a long time,” says the CEO of the Valencian startup.

In addition to promoting projects linked to the reduction of CO2 emissions, ClimateTrade also helps companies in their sustainability objectives and supports other green projects. A good example is a project in Ivory Coast to help women communities make a living by planting ginger, an activity that allows them to provide for their families. Another is the cryogenization of corals in Mexico, in order to safeguard these organisms.

Here in Spain, the platform collaborates with the companies Bosques Sostenibles and Co2 Revolution in reforestation projects. In the Valencian Community we do not have any project so far, although Benedito explains that they are considering several possibilities for reforestation projects. Finally, he announces that they will shortly launch a “shocking” ocean regeneration project about Posidonia.

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ClimateTrade and Acciona for renewable projects

ClimateTrade and Acciona for renewable projects 656 420 Climatetrade
  • This collaboration agreement with Acciona will allow us to integrate into our platform Certificated Emission Reduction (CER) from renewable projects with a high social impact, which meet specific Sustainable Development Goals (SDGs) located in various developing countries, such as Mexico, Chile or Costa Rica. 

The Spanish corporation Acciona, leader in sustainable solutions for infrastructures and renewable energy projects, is pioneering the use of blockchain technology to ensure the traceability of the 100% renewable origin of the electricity generated at its facilities and also of the electricity stored in batteries. Now, the company will drive the internationalization of our carbon credit trading platform.

Acciona will provide Climatetrade with emission reduction certificates (ERCs) from renewable projects in several developing countries, such as Mexico, Chile or Costa Rica, which will be tradable under the United Nations’ Clean Development Mechanism (CDM). 

In addition, the company will provide information on corporate social responsibility initiatives associated with the renewable projects involved and linked to the sustainable development goals (SDGs).

“By committing to the ClimateTrade project, we are aligning ourselves with a triple strategic objective for Acciona: the fight against climate change, digital innovation as a lever for the energy transition and social responsibility towards the communities where we develop our projects”, said Mikel Ortiz de Latierro, Director of Prevention, Sustainability, Environment and Quality at Acciona’s Energy division.

Carbon offsetting marketplace

Our platform connects project developers that generate emissions rights to companies needing to offset their emissions to achieve their carbon footprint reduction goals or comply with environmental regulations in the market. 

Besides, we are providing this service to those companies that wish to offer their clients the possibility of offsetting the emissions originated by the purchase of a certain product or service.

ClimateTrade facilitates and speeds up the transactions in the carbon market, opening up a very interesting and innovative business perspective within the framework of the transition towards a carbon-free economy.

Francisco Benedito, CEO of ClimateTrade, says that “going hand in hand with the world’s leading utility in sustainability, with large renewable projects, with great social content and which meet several ODS’s, means taking the platform to the next level. We thank  Acciona for increasing its trust in our project, allowing us to carry out a greater number of large transactions with corporate clients, as well as the confidence to be able to develop new projects related to energy and emissions rights, based on its expertise in the construction, energy and technology scopes”.

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ClimateTrade joins the Beauty Cluster Barcelona ecosystem

ClimateTrade joins the Beauty Cluster Barcelona ecosystem 809 420 Climatetrade

Leading companies from the perfume and the beauty industry, are walking together towards a more natural and sustainable path, with the objective to move forward in their fight against climate change.

Moreover, in February we will participate as speakers in the 5th Beauty Innovation Days Forum to promote a positive environmental impact in the beauty industry, working on the cosmetic and perfume Chains by changing the system from the product creation and manufacture process to the final marketing and selling step.

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ClimateTrade will offset the carbon footprint of the 100 Bcorp leaders attending the Climate Summit in Madrid

ClimateTrade will offset the carbon footprint of the 100 Bcorp leaders attending the Climate Summit in Madrid 420 420 Climatetrade

We are pleased to announce that ClimateTrade will be the Carbon Positive Partner of B Lab Spain and as the first action, we have offset 265 tCO2 of the 100 B Corporation Leaders who attended the last UNFCCC plenary. We have done it with the maximum positive impact, calculating the carbon footprint of the trips from the Pacific Islands, 18,000 km from Madrid. The reason for choosing this specific place is because many of these island will be gone by 2050 due to the sea-level rise, which we consider a really unfair forecast.

It has been calculated on a One Way trip basis, through the CeroCO2 calculator (A great partner of B-Corporation and ClimateTrade) and offset through the certified Gold Standard carbon credits.

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Climatetrade has been awarded as Best Start-up in the first edition of Valencia Investor Day.

Climatetrade has been awarded as Best Start-up in the first edition of Valencia Investor Day. 631 420 Climatetrade

Climatetrade has been the winner of the first edition of the Valencia Investors Day, held last month at the Palau de Les Arts, organized by Big Ban Angels and the Valencian Association of Startups, the jury cheered the proposal to regulate CO2 emissions through Blockchain technology.

It also offers the possibility of including any person willing to voluntarily offset their CO2 carbon footprint in their daily lives. Through our platform, the user can take actions aiming to offset polluting emissions such as refueling, receiving a package from a shipment or taking a flight by supporting sustainable projects worldwide.

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Meliá Hotels International: the first hotel company in the world to apply Blockchain technology to lead carbon footprint offsetting

Meliá Hotels International: the first hotel company in the world to apply Blockchain technology to lead carbon footprint offsetting 656 420 Climatetrade

Under the slogan “Towards a sustainable future from a responsible present” and, with the aim of promoting tourism under the threshold of sustainability and other values such as commitment, entertainment, innovation, and environment, Meliá Hotels International has closed an agreement with Climatetrade to offer its customers the possibility of offsetting their carbon footprint through the Meliá Rewards Programme.

Customers may redeem the accumulated points for carbon credits certified under the highest sustainability international standards or support sustainable projects that develop, protect and preserve natural ecosystems.

IAG-carbon-offsetting-flights

Climatetrade join IAG’s Hangar 51 accelerator programme.

Climatetrade join IAG’s Hangar 51 accelerator programme. 747 420 Climatetrade

We have entered the IAG Group Innovation program, and we are now deeply working on a pioneer pilot programme with Iberia, to help them incorporate carbon footprint offsetting in its systems for their final customers, which means all their flight passengers worldwide. This will enable this people to offset the carbon footprint the flight generates in each journey, and receive, along with his electronic ticket, an offsetting certificate and the link to the project in which this offset has been performed.

For 10 weeks we will be working side by side with mentors and experts from across Iberia and IAG Cargo gaining access to resources to develop, shape and scale up their business.