As global warming continues to loom over all of us, more and more organisations are working to become carbon-neutral, with some going so far as to say they are carbon-neutral. However, there have been accusations claiming some of these accomplishments are fake. Consequently, the carbon market has lost face. Restoring the market’s reputation, Centigrade has launched an open data platform.
The climate-focused technology provider’s platform is focused on restoring trust in global voluntary carbon markets. It provides fundamental data quality, availability and transparency required for a liquid, fair, and efficient carbon market. As a result, trust can be formed through increased participation. The company does not own or trade credits, nor does it provide rating or certification services. It remains neutral as it provides the public service.
“We cannot end the twin crises of climate change and nature loss without thriving credit markets. All truly functional markets require high-integrity, transparent data – and the complex realm of carbon and nature credits is no exception. Using innovative technologies, Centigrade provides the integrated, interoperable and open data platform that will enable all market actors, private and public, to make sophisticated decisions.” said Andreas Merkl, co-founder and CEO at Centigrade.
Promoting a product on the platform
All members of the ecosystem can use the platform, ranging from buyers and sellers to auditors and rating agencies.
Suppliers can use the platform to launch their differentiated products. Meanwhile, buyers can use it for price discovery, searches and due diligence. Service providers can use it to evaluate, track, analyse and rate credits and their movements.
The current offering isn’t the final goal though. Centigrade is going to continue rolling out improvements to the platform. In time, third parties will be able to develop additional products and services which include for managing and remediating risk.
Tracking credits
Furthermore, the company looks to increase its utility beyond transparency and differentiation. It wants to enable more sophisticated tracking, asset and risk management for “ex ante” credits. These are early-life carbon credits. For example, recently seeded forests or carbon removal plants under construction.
Similarly, the platform looks to enable the tracking of “ex post” credits. Credits representing carbon reduction or removal that has already occurred.
Francis Bignell
