PNZ Carbon And Carbonplace To Sell First Credits From Decarbonization Of UK Homes

PNZ Carbon And Carbonplace To Sell First Credits From Decarbonization Of UK Homes - Carbon Herald

Carbonplace, a platform for managing carbon credits developed by leading banks, has partnered with PNZ Carbon, a UK company that develops carbon credit projects. 

This collaboration is the first to use bank-level security for distributing and retiring certified carbon credits, strengthening trust in the voluntary carbon market (VCM).

PNZ Carbon, the only company globally to make large-scale home retrofits more affordable through carbon finance, will use Carbonplace’s user-friendly, clear, and secure platform to distribute certified carbon credits. 

Buyers can use their Carbonplace accounts to manage and retire these credits.

The credits from PNZ Carbon’s 2022 projects came from a pilot program with the Housing Associations’ Charitable Trust (HACT) to improve energy efficiency in social housing in the UK. 

This not only made the homes more energy-efficient but also created positive social benefits by providing warmer and healthier living spaces. 

Some of the buyers of these credits include Berkeley Group, Unity Trust Bank, Ibstock plc, Igloo Regeneration, Hunters Estate Agents, and Kinovo.

Decarbonizing UK homes with carbon finance

PNZ Carbon and HACT are utilizing the demand for clear, local carbon credits to fund over 100,000 retrofit projects across the UK. 

PNZ Carbon will leverage this demand to expand this carbon credit-based funding to cover retrofits for homes owned by individual residents.

Carbonplace uses the existing infrastructure that major banks use for compliance purposes. This includes complete tracking, verification, and reporting features that manage the entire lifecycle of PNZ Carbon’s retrofit credits, from creation to retirement. 

Relevant: Opinion: The VCM Is Essential To Decarbonizing UK Homes

This provides a reliable record of ownership and eliminates the risk of double counting credits. 

By simplifying the process and reducing risks, Carbonplace is helping innovative carbon financing solutions like those developed by PNZ Carbon and HACT to grow, accelerating the UK’s progress towards becoming net zero.

This is just the beginning of a lasting partnership between PNZ Carbon and Carbonplace, which has committed to buying PNZ Carbon’s credits.

Relevant: Introducing The Isometric Registry: A Breakthrough In Carbon Credits

Simon Turek, Managing Director of PNZ Carbon, stated: “We’re delighted to be partnering with Carbonplace, which is playing such an integral role in shaping the voluntary carbon market as it continues to scale.”

“We know project integrity is so important to customers and buyers, which is why we’re proud to be the first project developer to distribute credits through Carbonplace’s platform – and we know many others in the industry will follow. Carbonplace’s investment in our credits will continue to not only deliver emissions reductions but to positively impact communities across the UK,” Turek said.

Scott Eaton, CEO of Carbonplace, said: “Carbonplace’s partnership with PNZ Carbon exemplifies how our platform’s registry access services can set a new bar for security and transparency in the voluntary carbon market and together, we can rapidly scale carbon finance for some of the UK’s trickiest areas to decarbonise.”

“Buyers of PNZ Carbon credits on Carbonplace’s platform can be safe in the knowledge they’re trading and retiring credits in the most secure way available to the market today,” Eaton said.

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