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Carbonbase Partners with the HBAR Foundation, and ImpactX to Launch Asia's First Digital Carbon Registry
Hong Kong, [24 August 2023] Carbonbase, a climate-tech and carbon reduction solutions provider, is excited to announce a groundbreaking partnership with the HBAR Foundation and ImpactX to launch Global Climate Registry (GCR), Asia’s first digital native Carbon Registry.
The Asia-Pacific region contributed over 50% of global carbon dioxide emissions in 2022, yet lacks a transparent system to manage and incentivize emissions reduction projects. Powered by blockchain, GCR addresses this gap, offering an end-to-end platform and tools for managing, verifying, and trading carbon credits. Developed on the Hedera network, GCR provides a low-cost, transparent, and accessible solution for small carbon-reducing projects to obtain verified carbon credits, revolutionizing the carbon market landscape.
Katherine Foster, Executive Director Green Digital Finance Alliance & Former Canadian Climate Diplomat noted, "GCR represents a pivotal milestone in the intersection of climate change, digital green finance and blockchain technology. By enabling transparent carbon credit issuance and trading, this initiative will drive greater accountability, and unlock funding for impactful climate initiatives that support local communities.”
GCR will adopt IEEE’s Committee on Standard for Measurement and Verification of Reduction of Greenhouse Gases for Climate Action Projects and Solutions (IEEE Committee on MRV Standards for Climate Action) as its methodology and standard. This digital native registry introduces an innovative framework that streamlines accurate measurement, reporting, and verification (MRV) of carbon credits. This advancement reshapes the carbon market, promoting broader engagement from businesses, industries, and governments in the collective effort to combat climate change.
"ImpactX is designing the blockchain-based registry to catalyze a significant surge in carbon-reducing projects and high quality carbon credits.Our goal is to offer project developers and carbon credit purchasers a seamless journey, empowering both to play active roles in advancing carbon reduction initiatives within the Asia-Pacific region and globally," stated Karen Robbins, Co-Founder of ImpactX.
Kartik Kulkarni, Co-Chair of IEEE’s Committee on MRV Standards for Climate Action noted, “We are pleased that Carbonbase and ImpactX are working with IEEE and many other stakeholders to evolve a new standard to enable climate action projects such as agroforestry, renewable energy, carbon removal technologies, community-led initiatives, and more, to report, measure, and verify their climate impacts in credible and cost-effective ways.”
Chair of the IEEE Humanitarian Activities Committee, the strategic, global arm of the IEEE Board of Directors that manages IEEE’s portfolio of programs and multi-million dollar project investments that leverage 400k+ engineers in 160+ countries in applying and advancing technology solutions for sustainable development."
We believe in a future where the balance sheet of our planet lives on a public ledger. It is critical that standards and methodologies are governed and operated in a publicly auditable manner that is easy for project developers to adopt." said Wes Geisenberger, Vice President of Sustainability & ESG at HBAR Foundation. "We’re excited to see Carbonbase and ImpactX adopt the Hedera Guardian to build a digital native registry. GCR will enable digital MRV, streamline project enablement and improve carbon credit management, unlocking a new era of transparency, trust, and impact in the fight against climate change.""
We are thrilled to collaborate with the HBAR Foundation and ImpactX," said Max Song, CEO and Founder of Carbonbase. "By harnessing the power of IEEE standards and the Hedera network, GCR will be a catalyst for accelerating the measurement, reporting, and verification (MRV) process within the carbon credit market. This innovation will not only enhance the transparency and integrity of carbon credits but also drive substantial growth in the market, accelerating carbon reduction globally."
For more information about the Global Climate Registry and its partners, please visit [website link].About Carbonbase: Carbonbase is a climatech company, dedicated to empowering businesses and individuals to take effective action against climate change. By leveraging cutting-edge technology, Carbonbase provides innovative tools for carbon footprint calculation, emissions reduction, and sustainable investment.
About HBAR Foundation: The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. These communities tackle some of the world’s largest problems, and create and control their own economies, all built on the Hedera public network.
About ImpactX: ImpactX is a social impact catalyst for sustainable solutions to pressing social and environmental challenges. With its technology prowess, ImpactX brings the power of networks and digital tools to address climate change, poverty, equity, and economic development.
About IEEE: IEEE is the world's largest technical professional organization dedicated to advancing technology for the benefit of humanity. Its IEEE Standards Association has created over 1,300 industry standards including “Wifi”. Through its global community of technology experts, IEEE drives innovative solutions that address the world's most pressing challenges.
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