icc singapore blockchain
ICC Partners With Singapore Gov’t Backed Blockchain Startup For A $40B Climate Project
December 11, 2019
icc singapore blockchain
ICC Partners With Singapore Gov’t Backed Blockchain Startup For A $40B Climate Project
December 11, 2019

The International Chamber of Commerce (ICC) has partnered with Singapore government-backed blockchain startup to reduce carbon emissions in commercial aviation. 

On a Dec. 10 press release ICC stated that the partnership with Perlin and blockchain-based carbon offset exchange AirCarbon will provide $40 billion for climate projects in the aviation industry. 

Building A Better Environment With Blockchain

The scheme was launched by the three partners on the sidelines of the United Nations Conference on Climate Change, or COP 25, in Madrid.

blockchain environment

ICC Secretary General John W.H. Denton commented in the press release:

“As part of ICC’s declaration for the next century of global business, we are committed  to making climate action everyone’s business by supporting the research, development, and deployment of digitally-enabled solutions.

Denton continued:

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This partnership will harness the power of technology to accelerate innovation, and inspire real, concrete action to keep our air carbon-free.”

Reducing Carbon Emissions In Commercial Aviation

The ICC will seek to spread the adoption of AirCarbon’s carbon credits solution, which acts as a blockchain-based trading network for CORSIA, the existing carbon offset scheme from the International Civil Aviation Authority.

reducing carbon emissions

CORSIA came into being in 2016, at the time attracting 191 countries as signatories and hence potential markets for AirCarbon.

Source: Cointelegraph
Image Credits: Andy Carter | Beta Weku


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