IBM launches carbon asset management platform to drive low-carbon future of China
IBM has launched the world’s first blockchain-based green asset management platform based on the open source, openly governed Hyperledger Fabric.
In use by the carbon asset market in China, it allows enterprises to generate carbon assets more efficiently, helping to build a green, low-carbon and environmentally-friendly future in China.
Carbon asset development, also known as CER (Carbon Emission Reduction) quota issuing, is one popular ways of encouraging enterprises to decrease emissions and use low carbon emission technology.
“It is estimated that the platform will significantly shorten the carbon assets development cycle and reduce the cost of carbon assets development by 20 to 30 percent, enabling cost-effective development of a large number of carbon assets,” said Cao Yin, Chief Strategy Officer of Energy-Blockchain Labs. “Blockchain technology is expected to become an important means for effective control of carbon emissions, which is of great significance to China, the world's largest source of carbon emissions."
The two companies completed a proof of concept in late 2016 and a beta version of the carbon asset management platform on blockchain will be released in May. Energy-Blockchain Labs and IBM intend to commercially offer this platform later this year, keeping pace with China’s unified national carbon market opening.
"Energy-Blockchain Labs is committed to being the global leader in digitalized green assets and we expect to improve the efficiency of the carbon market and green finance market,” said Lin Le, CEO of Energy-Blockchain Labs. “We are delighted to be working with IBM on carbon reduction. We also expect to work with more partners to tackle climate change.”