GMEX Group Limited (GMEX), a firm focused on digital business and technology solutions for capital, commodities, and sustainability markets, announces the launch of ZERO13, a climate Fintech.
ZERO13 reportedly “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.”
Allo 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 reportedly “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 Allo 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 said:
“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.”