NEW YORK–(BUSINESS WIRE)–Carbon Title, the first decentralized platform designed to bring radical transparency to decarbonization efforts within the real estate industry; Thallo, which is building a decentralized marketplace for voluntary carbon credits, and CRED, a protocol based on decommissioned carbon credits, are collaborating with the carbon-negative Proof-of-Stake (PoS) Celo platform.
As the home of regenerative finance (ReFi), Celo continues to be the top choice for founders and builders developing climate- and community-focused solutions that leverage Web3 technology. This ReFi movement on Celo also continues to receive support from one of its earliest climate partners, the Climate Collective, a coalition of companies building together at the intersection of Web3 and climate action.
“The world’s mass coordination problems, including the climate crisis, require Web3’s mass coordination tools to help achieve the United Nations Sustainable Development Goals of achieving net-zero carbon emissions worldwide by 2050,” says Rene Reinsberg, co-founder of Celo and President of the Celo Foundation.
Carbon Title enables commercial contractors, developers and property owners to easily and cost-effectively estimate and offset their carbon emissions. The platform’s blockchain-enabled registry will provide transparency for the public to verify a building’s carbon claims and accelerate the decarbonization of the real estate industry, responsible for 38% of global greenhouse gas emissions. Tokenized carbon credits can be purchased and retired, eliminating greenwashing by enforcing traceability of these unique building-bound assets.
“A key part of our model is making building carbon intensity transparent by making the information available on the blockchain,” says Miles Haladay, co-founder of Carbon Title. “Celo not only offers a compliant proof-of-stake network, but also shares our mission to enable industry to achieve their decarbonization goals.”
The CRED protocol will provide retirement certificates for on-chain carbon offsets on the Celo blockchain as ecosystem partners including the Toucan protocol support this functionality. These certificates serve as proof of retirement that can be used in interoperable applications, facilitating an ecosystem of DAPPs that ensure a more auditable climate impact. “We are excited to launch on Celo in the near future and join Celo’s vibrant ReFi ecosystem,” says CRED founder Max Song.
Thallo’s mission is to consolidate Voluntary Carbon Markets (VCMs) into a single exchange on Web3 using a unique two-way bridge with existing registers. The platform’s unique tokenomics rewards high-quality credits through a cyclical royalty program, ensuring on-site project developers benefit from advances in carbon markets. Thallo’s unique approach will expand Celo’s dynamic carbon credit token ecosystem and help the climate collective build trust and liquidity in on-chain carbon markets.
“Since the beginning of the ReFi movement, Celo has pioneered innovation, supported developers and driven change at the market level. We are now beginning to see ReFi evolving from “the next big thing in Web3” to a mainstream approach to making climate impact at scale. Celo was one of the key organizations driving this evolution and Thallo is honored to be building the on-chain future,” said Joseph Hargreaves, co-founder of Thallo.
These climate technology companies join Flow Carbon, Untangled Finance, Plastiks and other Climate Collective partners in bringing regenerative, green products to the Celo network.
About the Celo Foundation
The Celo Foundation was established in 2017 to support the growth and development of the decentralized, open-source, mobile-first Celo platform and to help build a carbon-negative financial system that creates the conditions for prosperity for all. Guided by the principles of the Celo community, the foundation contributes to education, technical research, environmental health, community engagement, and ecosystem outreach—activities that support and promote an inclusive financial system. For more information about Celo, visit https://celo.org/.
About carbon titles
Founded in 2021 by Miles Haladay and Trevor Dryer, Carbon Title, based in Portland, OR, is the first decentralized platform bringing radical transparency to the decarbonization of real estate. Designed to meet the demand for climate action, Carbon Title offers an end-to-end solution that makes it easier, more attractive and even more profitable to make any building carbon neutral.
Founded by seasoned blockchain entrepreneurs and climate tech experts, Thallo uses blockchain technology to revolutionize and democratize the way individuals and businesses buy, sell and trade carbon offsets. Follow Thallo on Twitter and LinkedIn or join the Telegram group for updates. Visit www.thallo.io for more information.
CRED (Carbon Reward Dollars) is the first web3 reward program for corporate and individual climate neutrality. CRED creates exciting NFT, Web3 and IRL utilities for every dollar spent on CO2 removal.
About the climate collective
Founded in October 2021, the Climate Collective is an expanding coalition of companies working together at the intersection of Web3 and climate action. Through grant funding, member partnerships and community building, they support a range of impactful products and interoperable protocols that drive the Regenerative Finance (“ReFi”) ecosystem. The collective’s mission is to accelerate climate-positive applications using Celo’s carbon-negative blockchain and nurture a diverse community gathered around the shared mission of building a regenerative economy.