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C2Zero launches Carbon Emissions Allowance Cancellation Service (C4S) in London

C2Zero, an Australian start-up, is announcing its official launch in London today. C4S, the Carbon Emissions Allowance Cancellation Service by C2Zero, will be launched by the Lord Mayor of the City of London.

C4S helps individuals and businesses compensate for their environmental impact by allowing them to buy and retire carbon emissions allowances from systems that meet EU ETS or UK ETS standards..

All C4S transactions will be openly available for inspection on a distributed ledger (aka blockchain) without revealing owner and identities.

Customer actions trigger the purchase (and subsequent retirement) of emissions allowances in economically rigorous markets. This will decrease supply and increase the price of carbon allowances issued according to the economic goals established at the 1997 COP3 in Kyoto and subsequent COP summits.

Roger Cohen, Founder and CEO of C2Zero, says:

“Regulated carbon markets allow participants to buy or sell greenhouse gas (GHG) emissions allowances. C4S by C2Zero will give the public and all businesses, including smaller ones, enhanced global access to these markets, along with the confidence that their carbon allowances have been (or will be) authoritatively retired. Using the C2Zero infrastructure, we will offer streamlined management, transparency, and provenance throughout the entire process. Over time, we will expand coverage to other markets which meet the same rigorous standards as the UK ETS. We are very excited about this opportunity.”

C4S will start off in London by introducing a product for UK ETS allowances. C2Zero already offers a similar service based on New Zealand emissions allowances. Starting here, C4S will progressively expand to include other ETSs which meet rigorous international standards of the nationally legislated instruments already offered by C4S.

C4S will be launched at Mansion House in the City of London in March 2024. The Lord Mayor of the City of London, Alderman Michael Mainelli, developed the Mayoral Programme Connect to Prosper demonstrating that the City is a place where innovative solutions to global problems can be found. He sees C4S as an example of this.

“The Connect to Prosper year is all about bringing together thought leaders from fields of business, science, and academia, to propose innovative solutions to global problems. The C4S platform brings Carbon Emission Allowance Cancellation to an even wider audience of those around the world interested in preventing emissions today and is an exciting new innovation on the market.”

C4S plans to create a user-friendly web interface and an easy-to-install Application Programming Interface (API) to enable self-service and automated purchases relating to allowances within relevant jurisdictions from various applications. Ultimately, this activity should become part of “business as usual” for all stakeholders.

 

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