Australian start-up C2Zero has launched in London with its raison d’etre being C4S, a Carbon Emissions Allowance Cancellation Service that will help individuals and businesses compensate for their environmental impact by allowing them to buy and retire carbon emissions allowances from systems that meet EU ETS or UK ETS standards.
C2Zero believes that the purchase (and subsequent retirement) of emissions allowances through C4S, will help decrease supply and increase the price of carbon allowances in accordance with the economic goals established at the 1997 COP3 in Kyoto and subsequent COP summits.
All C4S transactions will also be openly available for inspection on a blockchain distributed ledger without revealing owners and identities.
“Regulated carbon markets allow participants to buy or sell greenhouse gas (GHG) emissions allowances,” Roger Cohen, Founder and CEO of C2Zero, explained. “C4S by C2Zero will give the public and all businesses, including smaller ones, enhanced global access to these markets, along with the confidence that their carbon allowances have been (or will be) authoritatively retired.
Using the C2Zero infrastructure, we will offer streamlined management, transparency, and provenance throughout the entire process,” Cohen added. “Over time, we will expand coverage to other markets which meet the same rigorous standards as the UK ETS. We are very excited about this opportunity.”
C4S also plans to create a user-friendly web interface and an easy-to-install Application Programming Interface (API) to enable self-service and automated purchases relating to allowances within relevant jurisdictions from various applications.
C2Zero offers a similar service based on New Zealand emissions allowances. They are launching in London with a service that meets UK ETS allowances as part of the Mayoral Programme Connect to Prosper, an initiative that the Lord Mayor of the City of London, Alderman Michael Mainelli, says aims to showcase the City of London as a place where innovative solutions to global problems can be found.
“The Connect to Prosper year is all about bringing together thought leaders from fields of business, science, and academia, to propose innovative solutions to global problems,” Lord Mayor Mainelli said. “The C4S platform brings Carbon Emission Allowance Cancellation to an even wider audience of those around the world interested in preventing emissions today and is an exciting new innovation on the market.”
