STACS Partners With Everimpact for Greater Transparency in the Carbon Credits Marketby Fintech News Singapore September 21, 2022
Hashstacs (STACS), a blockchain-based fintech firm focused on Environmental, Social, and Governance (ESG), has partnered with France’s Everimpact to provide banks and corporates involved in the carbon market with greater transparency and trust.
The partnership aims to promote data-backed carbon credits with end-to-end traceability.
The first phase of the project will include technical integration of Everimpact’s Digital Monitoring, Reporting, and Verification (DMRV) carbon tracking platform to the blockchain-based ESGpedia, which powers the ESG Registry of the Monetary Authority of Singapore’s (MAS) Project Greenprint.
There will be greater transparency of the carbon credits lifecycle, with buyers and users being able to easily access attributes and data of carbon credits via a common, standardised registry, ESGpedia.
This allows them to better understand the quality of the carbon offsets, facilitating better investment decisions.
Another key benefit for buyers is the end-to-end traceability of the carbon credits, with the following all immutably recorded onto ESGpedia,
This includes the origination of carbon credits by Everimpact, the transaction and ownership details of each carbon credit, as well as the immediate retirement of carbon credits upon purchase, to ensure no repeated or double-trading of the carbon credits.
This is especially important in ensuring that the money used to buy carbon credits goes towards contributing to an actual net positive climate impact.
Everimpact’s carbon MRV tracking platform will also be used to measure greenhouse gas (GHG) emissions more accurately via its system of satellites, sensors, traffic, buildings, and other IoT devices.
Banks and corporates can access these carbon data aggregated on a high-level via ESGpedia for holistic ESG certifications and data across various sectors and global verified sources.
Buyers can click in and dive deeper via Everimpact’s platform for more granular data regarding specific carbon offsets.
Mathieu Carlier, CEO and Founder at Everimpact said,
“We’re excited to partner with STACS to bring an end-to-end digital platform to banks and corporates, so they can invest in carbon offsets they can trust. We make it possible to track a tonne of CO2 right from the source, and turn it into a trackable and certified digital financial asset.
We want to make it easy for organisations to invest in reliable carbon offsets which have a proven impact to fight climate change.”
Benjamin Soh, Managing Director at STACS said,
“At STACS, we aim to enable banks and corporates on their journey towards carbon neutrality via holistic ESG data and technology.
Through our partnership with Everimpact via ESGpedia, we seek to bring greater transparency to the global carbon market and enable high-quality data-backed carbon credits with end-to-end traceability, so as to ensure the integrity of the carbon credits traded.”