Carbon CreditsCarbonplace Gets More Banks to Scale Carbon Trading

Carbonplace Gets More Banks to Scale Carbon Trading

Last year, Project Carbon (as it was called at the time) was launched by 4 major banks NatWest Group, CIBC, National Australia Bank, and Itaú Unibanco.

The goal is to develop a new technology platform, (now called Carbonplace), to provide trading of voluntary carbon credits.

UBS, Standard Chartered, and BNP Paribas have recently joined the Carbonplace project to help scale and build secure infrastructure.

They expect to have it fully operational by the end of 2022, with the goal of:

  • Increased delivery of high-quality carbon offset projects
  • Create a liquid carbon credit marketplace with price certainty and transparency
  • Develop a strong ecosystem to support the offset market
  • Create tools to help clients manage climate risk

Last Sept, they announced that they did their first transaction on the platform.

Carbonplace will reduce barriers to entry in the voluntary carbon market, and give project developers in the global south direct access to large numbers of customers looking to fund carbon reduction and removal projects,” said Chris Leeds, head of carbon markets development at Standard Chartered.

The voluntary carbon market is growing at a record pace as more and more companies are setting net-zero pledges.

The easiest way for companies to reach those carbon-neutral targets is by purchasing carbon credits from a verified source such as Verra, Gold Standard, Climate Action Reserve, and the American Carbon Registry.



Most Popular



Ultimate Guide



Loading...



LATEST CARBON NEWS

Why Madsen Will Work This Time: A Smarter Start for a Legendary Gold Mine

Disseminated on behalf of West Red Lake Gold Mines Ltd. The Madsen Mine, located in Ontario’s renowned Red Lake gold district, has a legacy of...

A Battery ‘2X Better’ than Tesla’s Is Reshaping the $90B Home Power Storage Market

Disseminated on behalf of StorEn. Demand for home energy storage is booming, with up to 47% of US homes expected to have rooftop solar installations...

France’s New Law to Curb Fast Fashion Carbon Footprint: A Closer Look at SHEIN, Temu, and Inditex

The French Senate has approved a new legislation that puts strict rules on ultra-fast fashion brands like SHEIN and Temu. This bill bans ads...

BP Halts Indiana Carbon Capture Project Amid Safety and Economic Concerns

BP has indefinitely paused its carbon capture and storage (CCS) project in Indiana. The plan, aimed at making the state a hub for low-carbon...
CARBON INVESTOR EDUCATION

Planting Trees for Carbon Credits: Everything You Need to Know

As climate change intensifies, nations and industries are seeking innovative ways to cut carbon footprints. Carbon credits have emerged as a key tool in...

What is SMR? The Ultimate Guide to Small Modular Reactors

Energy is the cornerstone of modern life. We need electricity for healthcare, transportation, communication, and more. Many countries are choosing nuclear power because it...

What Is Carbon Dioxide Removal? Top Buyers and Sellers of CDR Credits in 2024

The world must remove 5–16 billion metric tons of CO₂ annually by 2050 to limit global warming to 1.5°C. But with emissions still rising,...

Top 5 Carbon ETFs for Sustainable Investing in 2025

Like stocks, investors can buy and sell Exchange-Traded Funds (ETFs) whenever the market is open. Often investing in carbon credits through ETFs offers a...