TRAIN, Switzerland, September 20, 2022 /PRNewswire/ — Concordium is proud to raise the bar for carbon credits by announcing a partnership with carbotanix (CTX), one of the most data-driven carbon offsets on the market.

To restore trust in the offset process by making it data-driven and transparent, the Carbotanix CO2 offset token will be built entirely on the Concordium blockchain, the world’s first science-backed blockchain with a protocol-level ID layer designed with Looking at sustainability and governance.

Developed through remote sensing and continuous monitoring, Carbotanix offers one metric tonne of carbon offsetting, while Concordium’s identity framework enables identity to be traced back to the source for the first time.

This innovative solution, which combines remote sensing data with blockchain technology to ensure a new level of trust, is designed to combat greenwashing practices such as double-counted credits, which are essential to achieving net-zero emissions. As global carbon markets grew $272 billion In 2020 they are still allowed to Businesses need to grow 50x to reach net zero by 2050 greenhouse gas emission targets. Concordium’s ID framework guarantees that only verified partners can issue carbon credits, scaling the market with confidence at its core.

In addition, Carbotanix ensures a fair distribution of profits, with 51% remaining with the beneficial landowner partner and 20% reinvested back into reforestation, eco-remediation and expansion.

“The Carbotanix team, after a thorough market due diligence process, selected Concordium as the right blockchain partner to bring to market the first-in-class data-validated carbon sequestration units that will be the gold standard for carbon credits on the blockchain . The Concordium team has excelled in all aspects of the project development process and we feel comfortable launching the CTX token through the CCD ecosystem,” says Andre Rafnsson, CEO of Carbotanix

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