Xarbon Launches Asia’s First Digital Blockchain Carbon Creditby Company Announcement July 23, 2018
Xarbon a Hong Kong based sustainability technology company using blockchain to improve carbon credit trading market transparency, announces that the Company will have a strategic partnership with the United Nations Office for Project Services (“UNOPS”) to support low-carbon economy development.
On the other hand, the Company has taken part in co-investment of USD18 million on a Korean-based OLED lighting project to offset carbon emission.
Xarbon launched the first Digital Carbon Credit “OCO”, on top of the New Economy Movement (“NEM”) Blockchain, which aims to future proof the carbon economy. The team believes that by applying blockchain technology to the carbon credit market, that OCO can improve transparency of carbon credit transfer, simplify user verification process, and incentivize individuals to uphold behavioral change.
The Company has a partnership and received endorsement from the UNOPS, the operational arm of the United Nations dedicated to implementing projects for the United Nations System, to support low-carbon economy development by establishing digitalized carbon, aiming to improve education, awareness-raising and social impact on climate change mitigation, adaptation, impact reduction and early warning among different governments and organizations.
Mr. Johnny Chong, Chairman & Founder of Xarbon, commented,
“It is our honor to join hands with UNOPS to take part in carbon credit trading market. Carbon emission resulting in climate changes is not only an environmental issue, but also a social issue that needs every country to push forward.
The endorsement from the UNOPS shows its unreserved support for applying blockchain technology to provide transparency to the carbon credit trading market for all market participants. Backed by our digitalized carbon credit token OCO, we shall work closely with the UNOPS to promote cross border carbon credit trading among Asian countries.”
Meanwhile, Xarbon has taken part in a USD18 million worth co-investment on OLED lighting project to support the future sustainability for city and home lighting technology. This is the first lighting and technology company to use Xarbon digitalized carbon unit OCO to offset for carbon credit in a reduction of carbon emission.
Said Mr. Chong,
“OCO is the Asian first digital carbon unit with high investment value. We are very glad to co-invest with other Asian investors to promote and support the digital technology on creating a low-carbon economy. It is an important step to our enterprises and countries over the world to support the Paris Agreement with OCO and re-invest on sustainability projects.”
“Currently we have created over 200 million tons of Carbon Dioxide reductions in the world. By 2020, I’ll make this figure 3 billion”.
Featured image via Pixabay