BME, the Spanish stock exchange now owned by the Swiss SIX group, ran a proof of concept for carbon offsets. Its central securities depositary (CSD) division Iberclear partnered with blockchain platform ClimateTrade for a Voluntary Registry of carbon credits that can be used as carbon offsets.
ClimateTrade has an existing relationship with renewable energy company ACCIONA Energía which supplied the solar energy used in the trial. The platform provides a measurement, reporting and verification (MRV) solution confirming the amount of CO2 equivalent emissions avoided by using solar energy. Certification company SGS Tecnos acted as the independent verifier of the energy saved.
So Iberclear validates and records the carbon credit in its Voluntary Registry, and is linked to ClimateTrade’s Marketplace, where the credits are traded. Once the credit is used as an offset, it gets canceled, which is then certified.
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