CarbonKerma, a carbon credit trading platform owned by Virginia-based DigiKerma, Inc., has announced the opening of a new blockchain-based marketplace for carbon credits generated through carbon capture, utilization, and storage (CCUS).
The platform, where each ton of carbon dioxide (CO2) is represented as a digital token, CKT, on a one-for-one basis, ensures the integrity and traceability of the traded carbon, according to a company statement.
“CarbonKerma is bringing to market a unique digitized form of CO2 that can be bought in large or small quantities while being traceable, measurable, and removed from the atmosphere under strict regulations,” Irfan K. Ali, founder and CEO of CarbonKerma, said in a comment.
To mark the opening of the platform, the chief executive made the first transaction on CarbonKerma, offsetting the emissions of his return flight from Washington D.C. to San Diego.
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According to the statement, CarbonKerma is the first carbon credit trading platform in the world that guarantees measured, verified, regulated, high-quality carbon credits, which are traded in a fully transparent manner. This is thanks to the fact that the carbon credits are exclusively derived from CCUS and all transactions are recorded via distributed ledger.
Carbon capture is considered to play a key role in meeting global targets under the Paris Agreement, and CCUS is strictly regulated through a Monitor Report and Verification (MRV) requirement in the USA and through ISO standards worldwide, CarbonKerma highlighted.
CCUS allows stationary emission sources from hard-to-abate industries, for example power plants or fertilizer, chemical, cement, and steel production facilities, to capture carbon from their emissions before it enters the atmosphere.
The captured CO2 is then permanently stored in deep geological formations underground, or used in a range of applications.
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