Corporate climate action disclosure platform Xels uses NFT-based platform to promote a greener, healthier planet.
Figure 1: XELS Positions NFT-Based Platform as Future of Corporate Climate Action Disclosure
More and more corporations see managing their carbon footprint as a critical part of their corporate social responsibility (CSR), driving a carbon offset market that is estimated to be valued at between $40 billion and $120 billion. Moreover, the absence of transparency in climate change and carbon emissions reporting results in customers` distrust in what companies promise, their difficulties in following through the supply chain, and a lack of investor confidence in their pledges.
Xels is repositioning the carbon credit focussed sector of the NFT space to focus on transparent ESG reporting with tokenization as a supplementary feature. Xels believes this will remedy the acute problem of the tokenization and exchange of carbon credits in the space.
Speaking about the Xels platform, a spokesman for Xels commented:
"Many of the world's largest companies are pledging to take world-changing action on climate change. But the question remains as to whether these actions are verifiable and whether bold statements are misleading stakeholders such as investors. When it comes to climate change, we're missing the bridge that links consumers, businesses, and investors in a functioning marketplace. Blockchain technology is the missing link that brings consumers, businesses, and...
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