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.
📣 Perlin and the @iccwbo have PARTNERED with the #AirCarbon Exchange at Madrid's #COP25 to power a blockchain based carbon credits trading platform dedicated to offsetting global aviation industry carbon emissions.🌱 Check out the joint press release! → https://t.co/yXdrEWoUNu pic.twitter.com/EWcHEAPeOD — Perlin (@PerlinNetwork) December 10, 2019
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.
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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:
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.
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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