Carbonplace connects buyers and sellers of carbon credits through their banks
In Brief:
Carbonplace secured the seed funding from the banks that founded it, NatWest, BNP Paribas, UBS, Standard Chartered, National Australia Bank, BBVA, CIBC, Itaú Unibanco and SMBC
Each bank now has equal equity ownership in the company, which is expected to launch its platform this year and will be headed up by CEO Scott Eaton
As CEO of Carbonplace, Eaton will lead the now-independent entity in helping to bring the world closer to net zero emissions by enabling financial institutions, exchanges, marketplaces and registries to buy and transfer carbon credits
What does this mean?
“Carbonplace creates an efficient and secure network for carbon credit transactions,” NatWest Markets CEO Robert Begbie said. “To meet that demand, Carbonplace is delivering a reliable, secure and scalable technology that will form a crucial part of the infrastructure for carbon markets to drive climate action at scale.”
