The InterWork Alliance (IWA), the group that plans to standardize tokenized assets and multi party contracts, has set up a group to focus on sustainability. The initial aim is to standardize carbon offsets.
The working group is led by Digital Asset, Accenture and Xpansiv, a subsidiary of CBLmarkets, a company that trades carbon offsets and water rights.
As a first step, the group plans to address carbon credits, the process by which companies try to address carbon emissions. One kind of carbon credit involves companies buying carbon offsets, which fund projects to reduce emissions such as planting trees or electrification initiatives that encourage less open flame cooking and heating.
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