In a groundbreaking move set to revolutionize the fight against climate change, Carbonbase, a leader in climate-tech solutions for carbon reduction, has joined forces with the HBAR Foundation and ImpactX to introduce the Global Climate Registry (GCR). The GCR, a revolutionary digital Carbon Registry, signifies Asia’s entrance into carbon tracking and emissions reduction through advanced technology.
Carbonbase’s innovative move was announced recently on Hedera’s official Twitter account via a thread:
🤝 @carbonbaseco has partnered with the @HBAR_Foundation and ImpactX to Launch Asia’s First Digital Carbon Registry ⤵️
— Hedera (@hedera) August 28, 2023
“We believe in a future where the balance sheet of our planet lives on a public ledger… We’re excited to see Carbonbase and ImpactX adopt the #Hedera Guardian… pic.twitter.com/jkmfEtXBXq
According to a recent report, in a zone contributing over 50% of global CO2 emissions in 2022, the lack of a local carbon registry hindered emissions reduction. GCR is an innovative effort to provide developers, auditors, and buyers with a seamless digital platform. On the Hedera Hashgraph network, GCR enables credible carbon credit registration, verification, and purchasing. Beyond affordability and transparency, it empowers small-medium developers and informed corporate choices through enhanced data reporting.
Max Song, the CEO and Founder of Carbonbase, expressed his enthusiasm, stating,
Our commitment to driving climate solutions across the Asia-Pacific region naturally led us to this collaboration. By tapping into the robust partnerships of the Hedera network and ImpactX’s innovative product approach, we aim to shape the next generation of carbon market infrastructure.
Based on the Hedera Guardian, GCR is poised to accelerate the digitization of the carbon credit market’s measurement, reporting, and verification process, ushering in a new era of transparency and growth. The sentiment was echoed by Karen Robbins, co-founder of ImpactX, who highlighted the importance of blockchain-based tools in propelling impactful climate initiatives. Co-founder of ImpactX, Karen Robbins stated, “Our goal is to offer both project developers and carbon credit purchasers a seamless journey”.
Wes Geisenberger, the Vice President of Sustainability & ESG at the HBAR Foundation, emphasized the importance of public responsibility in the fight against climate change. He envisions a future where the planet’s balance sheet is transparently documented. This highlights GCR’s role in streamlining project management and improving oversight of carbon credits.
GCR’s adherence to standards and methodologies outlined by the IEEE’s Committee on Standards for Measurement and Verification of Reduction of Greenhouse Gases further solidifies its position as a pioneering force. Kartik Kulkarni, Co-Chair of the IEEE’s Committee on MRV Standards for Climate Action, commended this collaborative approach to credible and cost-effective climate impact reporting.
