Carbon Markets: The Power of Data & Innovation
Presented by Clare Nasir
Presented by Clare Nasir
By providing economic incentives for reducing greenhouse gas emissions, the role of carbon markets is an important one. But, how do we harness data for greater transparency and efficiency within these markets? What is being done to ensure that the power of data and innovation can be used to strengthen and accelerate climate action.
Approved by the CAD Trust
Gaining access to reliable data on carbon stored in forests and trees has remained a key challenge for businesses taking climate action. Chloris Geospatial has developed a unique software that brings such data to market, with the speed, scalability and accuracy the transition to net-zero and nature-positive economies requires.
Incentivizing companies to accelerate their planned green business can be an effective way to reduce emissions. Center for Social Value Enhancement Studies (CSES) in Seoul discusses their Environment Protection Credit scheme which is an incentive for companies to reduce their carbon footprint and a mechanism which has data very much at its core.
The monitoring of greenhouse gases in the atmosphere is largely an inexact science and the development of related nature-based projects a scattered art. GAIT Global claims its use of satellites and AI provides a robust, world class and real-time measure of carbon in the atmosphere. The Singapore based climate investment, advisory, and technology group has an interest in 100,000 square kilometres of carbon projects around the world, including in Borneo.
Carbon asset trading provides a powerful incentive for companies to reduce their carbon footprint, helping industries to meet their goals for reducing greenhouse gas emissions. InterOpera, a Singapore based company, discuss how its new carbon asset exchange platform will support businesses on their journey to carbon neutrality.
The Climate Action Data Trust was formed by IETA, the World Bank and the Singapore government in December 2022. Its aim, to create a decentralised record of all major carbon credit registry data to strengthen trust and confidence in carbon markets through enhanced transparency. In ITN Business’ programme ‘Carbon Markets: The Power of Data and Innovation’, made in partnership with the Climate Action Data Trust (CAD Trust), reporter Sally Patterson speaks to their Executive Director Dinesh Babu about the challenges they are solving, the goals of the CAD Trust and how their decentralised blockchain-based platform ensure the seamless integration of multiple registry systems.
This content has been approved by the featured organisation.
The driving force behind CAD Trust’s metadata platform is The Climate Warehouse programme, focused on the development of infrastructure for a globally connected international carbon market. The Climate Warehouse is managed by the World Bank and ITN Business recently sat down with Hania Dawood to discuss the World Bank’s pivotal role in digitising carbon markets.
This content has been approved by the featured organisation.
Presented by
Clare is a fully qualified met office trained weather forecaster with 20 years' experience. The face of Channel 5 weather, following 11 years as the weather anchor on GMTV, Clare has also worked for BBC weather, ITV and The Weather Channel as a presenter and meteorologist. Clare co-presented the much-acclaimed CBBC science documentary series Fierce Earth, has also written a series of Children’s books about the weather and climate and writes regularly for the Huffington Post on science and weather.
Each film included in this programme has been approved and complied by the organisation associated with that content as identified in the descriptions above.
Climate Action Data Trust (CAD Trust) is a decentralised metadata platform that links, aggregates and harmonises all major carbon registry data to enhance transparent accounting in line with Article 6 of the Paris Agreement. The CAD Trust open-source metadata system uses blockchain technology to create a decentralised record of carbon market activity with the aim to avoid double counting, increase trust in carbon credit data and build confidence in carbon markets. The Singapore-based initiative was founded by the World Bank, The International Emissions Trading Association (IETA) and the Government of Singapore. CAD Trust is an integral part of the World Bank’s Climate Warehouse End-to-End Digital Ecosystem.
