Yesterday, Spanish renewables firm ACCIONA announced an agreement with start-up Climate Blockchain Initiatives to use its ClimateTrade platform. ClimateTrade uses blockchain for transacting carbon credits between parties transparently and securely.
ACCIONA produces about 22 Terawatt-hours (TWh) of emission-free electricity annually and has a presence in over 20 countries. Under the agreement, the company will provide ClimateTrade with Certified Emission Reduction (CER) certificates generated by its plants in emerging countries such as Mexico, Chile, and Costa Rica.
CER is a certificate issued by the United Nations Clean Development Mechanism (CDM) to member nations for preventing one tonne of carbon dioxide emissions. Currently, the sale of CER’s takes about two months under the Kyoto Protocol, while ClimateTrade achieved this within 48 hours.
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