A tree that is about to be planted is seen during a reforestation project in Nova Mutum, Brazil, February 19, 2020. Picture taken February 19, 2020. REUTERS/Alexandre Meneghini/File Photo
LONDON/NEW YORK, Aug 17 (Reuters) - International Finance Corp (IFC), a World Bank affiliate, told Reuters on Wednesday it is backing a blockchain-enabled platform to trade carbon offsets, aiming to attract more support from institutional investors for climate-friendly projects in emerging markets.
It is a bet that using blockchain - a digital database with information that can be publicly shared within a large decentralised network - will boost the use of carbon offsets to a greater extent than more traditional methods.
These credits are used by companies and organisations to offset emissions when accounting for their carbon footprint. They are backed by projects that compensate for emissions, such as tree planting or creating solar and wind power.
Several financial technology firms have sprung up...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...