In order to launch a distinctive platform on the blockchain network, ClimaFi has partnered with Concordium.
The science-based Proof of Stake blockchain network Concordium has joined forces with ClimaFi, a technology and climate company with offices in Switzerland and the United Kingdom, to launch CLMT Exchange, a platform for trading carbon credits.
According to official reports, the tradable credits will be transferred via a medium made from peatlands and woods in the United Kingdom. According to a news release from yesterday, CLMT Exchange will enable customers to reduce their carbon footprints by using domestic credits.
In order to reliably supply carbon credits that meet its users’ needs and in-demand solutions aimed at lowering the global carbon footprint, ClimaFi uses artificial intelligence, satellites, and drones.
What CLMT Exchange will involve
Concordium will enable the CLMT Exchange on the blockchain network as part of the alliance, bringing all on-chain functionality to bear. Transparency and security are included in this.
The collaboration is a key component of CLMT’s strategy to help businesses and institutions “move carbon footprints into the future.” The CEOs of Concordium and ClimaFi, Lone Fønss Schrøder and Tim de Rosen, acknowledged their agreement to improve climate change through the development of CLMT Exchange.
According to Lone, businesses and organizations might use CLMT Exchange to rehabilitate land close to where they operate, where their carbon footprints have the greatest impact.
Lone further emphasized that by generating a “tamper-proof” carbon credit record through the exchange, which can be accessed and understood by examining on-chain data.
Tim De Rosen contrasts this by stating that ClimaFi was happy to collaborate with Concordium and watch the platform grow. It has become increasingly important to address climate change in recent years. Numerous businesses, both crypto-related and unrelated, have acted to support climate preservation in response to global warming.
