Every financial transaction we make has a climate consequence, positive or negative, but at present this impact is hidden and the costs masked.
Laszlo Giricz, founder of the venture Poseidon, announced the launch of a partnership to create a carbon currency that will revolutionise the way we value nature, using blockchain technology.
The initiative will allow these carbon consequences to be visible for the first time by enabling a carbon value to be added directly into everyday products.
Crucially, it will also make it possible for consumers to purchase ‘climate-positive’ products on a day-to-day basis, enabling them to see the exact tangible difference they are making on the ground.
This digital ecosystem will also allow Governments and regulated companies to measure, track and trade emissions transparently, redefining the way they manage their regulatory compliance.
The aim is to bring carbon pricing to the mainstream by giving both consumers and corporates an economically viable, incorruptible, and transparent way of making sustainable transactions and lowering their carbon footprint in real terms.
Poseidon’s blockchain technology presents an opportunity for early involvement in a transparent, accountable carbon market that can provide both financial and ecological returns, offering a host of benefits to natural ecosystems, and the habitats and livelihoods they support.”
This technology will prevent double counting of carbon and will be consistent across jurisdictions, making it easier for companies to deliver and measure progress towards their climate targets or other goals such as deforestation- free commitments.
Poseidon will source carbon credits through Ecosphere+, a venture founded by the Althelia Climate Fund, which finances a range of high-quality environmental assets around the world with measurable societal benefits, including in particularly vulnerable ecological zones, such as Brazil, Guatemala and Peru.
In a later phase, Poseidon will create a mobile app that will enable corporates and consumers to see the impact that their carbon positive purchases are financing on the ground.