GMEX’s ZERO13 is a blockchain platform for interconnecting carbon credit and ESG markets. It won the blockchain category at the COP28 UAE Techsprint. The competition was organized by the Bank for International Settlements (BIS), COP28, the Central Bank of the UAE and the Emirates Institute of Finance (EIF).
The carbon credit sector has received a lot of bad press of late. Some of it is well deserved, so there’s a need to restore trust. GMEX reckons that ZERO13 helps by addressing greenwashing, double counting and providing price transparency.
Today the market for carbon credits is a fragmented one. ZERO13 is a platform that’s trying to bring multiple players together to make it easier for corporations to access credits from a range of registries and projects. It’s a distributed network of networks for the issuance of tokenized carbon credits, as well as trading and atomic settlement. ZERO 13 also supports ESG securities and has integrations with multiple blockchain technologies.
In addition to registries, the platform links to exchanges, banks and custodians, and those involved in measurement, reporting and verification of carbon credits.
So far GMEX says it has more than 50 participants on the platform. Today it additionally announced four new ones, Universal Carbon Registry, Decarb.earth, Koat Intelligence Solutions and Plato Data Intelligence.
“Our partnership with ZERO13 enables a fully end-to-end carbon credits solution,” said Marco Funk, CEO of Decarb.earth. “We generate offsets through our IoT-enabled projects and get them third-party audited and registered, and in turn can sell them seamlessly as spot or forward contracts through the marketplace access ZERO13 provides.”
ZERO13 is integrated with Pyctor, the post trade solution that GMEX acquired from ING last year. GMEX is also the technology provider for TP ICAP’s digital assets offering.
