GMEX launches climate fintech Zero13


GMEX Group Limited (“GMEX”), a leader in digital business and technology solutions for capital, commodities and sustainability markets, announces the launch of ZERO13, a climate fintech.

ZERO13 provides an automated AI and multi-blockchain driven aggregation ecosystem delivering trusted supply, digital issuance, trading, clearing and settlement for a broad range of carbon credits and related ESG real-world assets. ZERO13 digitally interconnects multiple stakeholders, including registries, banks, custodians, asset managers, corporates, buyers and sellers, markets, exchanges, climate tech and fintech firms to help achieve Net Zero.

The Verdana Eco-Consortium is partnering with ZERO13 to provide collective safeguards to address double counting by integrating its dMRV (digital measurement, reporting, verification), registry infrastructure, and connecting to standards bodies for carbon credits, with data sharing into the World Bank sponsored Carbon Action Data Trust (CAD Trust) to provide transparency. Alléo Energy and Pay DIRT are bringing fuel replacement and nature-based carbon credits into ZERO13, giving them the end-to-end digital provenance to address green washing, as well as enhanced distribution.

The Taskforce on Scaling Voluntary Carbon Markets (TSVCM) estimates that demand for carbon credits could increase by a factor of 15+ by 2030 and up to 100 by 2050. Recent independent research shows that the global carbon credit market traded value was US$978.56 billion in 2022. The market is expected to reach US$2.68 trillion by 2028, at a CAGR of 18.23% during 2023-2028. Carbon credits are a high priority for corporations and institutions yet are beset by problems, impacting:

● Trust: fraudulent carbon credits, double counting and green washing

● Efficiency: lack of price transparency, vertical silos and market fragmentation

● Distribution: lack of digital registry enablement and too many intermediaries

At this time there is no cohesive global carbon ecosystem, as the market is fragmented with multiple silos. Registries have manual supply and are mostly isolated, as are carbon exchanges and over the counter trading, and there is very little peer-to-peer connectivity within the market. This missing link prevents market growth and development.

Hirander Misra, CEO of ZERO13 and GMEX Group commented, “ZERO13 provides a desperately needed, interconnected global carbon ecosystem for all types of participants, in a regulatory compliant manner, to more efficiently match supply with demand.” He added, “It’s a privilege to collaborate with Verdana’s Eco-Consortium to digitally address the end-to-end issues in voluntary carbon markets and to unlock carbon credits supply from partners such as Pay DIRT and Alléo Energy, bringing trust by demonstrating full digital provenance.”

Asad Sultan, CEO of Verdana and Co-Founder of Eco-Consortium, commented “To ensure greater credibility with institutional and corporate market participants, the supply of all types of carbon credits should be transparently verifiable and then securely tradeable in regulated markets.” He added, “Our partnership with ZERO13 aims to make carbon credits and related ESG markets more trusted and efficient using a digitally integrated approach.”

Bob Waun, Principle of Pay DIRT, LLC commented, “Proven advances in economics and efficacy of biochar in reducing water need and fertilizer inputs will increase ROI on crop land investment.” He added, “By utilizing these methods and harnessing the technological capabilities of our partner ZERO13 to generate and distribute a trusted supply of digital biochar carbon credits, we will both benefit our business and have a positive impact on the environment, food nutritional value and economy of American farm communities."

Tim Adkins, Managing Partner of Alléo Energy, LLC commented, “We are excited to announce our partnership with ZERO13, which is a game changer from a sustainability perspective, as we are able to generate carbon credits from our production of a truly sustainable fuel product at, or below, the cost of a comparable fossil fuel, and optimise their distribution into the market digitally.” He added, “This and our production and supply of biochar and its application to the agricultural land banks of Pay DIRT, LLC optimizes the generation of carbon credits, with provenance that buyers can trust to avoid green washing.”


By on Thu, 04 May 2023 07:30:00 GMT
Original link