In 1997, in the UN event, Carbon Credits were created in order to incentivize projects all around the world to decarbonize the planet. Basically, if a company is polluting in a developed country, they need to pay for the pollution to the companies which do the opposite in the emerging markets. This is measured on the basis of carbon emission. Every ton of Co2 emitted is one Carbon Credit which a company has to buy.
In 2017, our guest for this episode of The Brand Called You, Francisco Benedito detected some inefficiencies in the existing climate market. It was found out that one can apply technology to make these markets more transparent and traceable. This is why ClimateTrade was created as a platform which uses blockchain technology to provide transparency and traceability in climate trade transactions.
Francisco Benedito is the CEO of ClimateTrade and the co-founder of ClimateCoin. He has been awarded as the best organization for decarbonizing the travel industry. He has also been voted amongst the top 100 SDG influencers.
The Brand Called You