Nasdaq launches new digital carbon credits service

Illuminem summarizes for you the essential news of the day. Read the full piece on Carbon Herald or enjoy below:

🗞️ Driving the news: Nasdaq announced the launch of a digital carbon credits service, designed to enhance the scalability and security of the carbon market
• This service digitizes the entire process, from issuance to settlement of carbon credits

🔭 The context: The new service uses smart contract technology for secure transactions, catering to institutional investors
• By covering the full lifecycle of a carbon credit transaction, Nasdaq aims to increase market liquidity

🌍 Why it matters for the planet: The integration of this technology into carbon markets addresses recent concerns over the quality and authenticity of carbon credits
• It enhances transparency and credibility, crucial for the effectiveness of voluntary carbon markets (VCMs)

⏭️ What's next: Nasdaq's technology will be applied to the Puro Registry for CO2 Removal Certificates (CORCs), modernizing the Puro Standard
• This partnership with Puro.earth aims to improve traceability and prevent double counting in carbon projects, moving towards market standardization

💬 One quote: "The implementation of technological solutions, such as the one offered by Nasdaq, will help bolster traceability" (Violet George, author)

Click for more news covering the latest on carbon