Univers And Citi Announce New Voluntary Carbon Credit Digital Solution

Univers And Citi Announce New Voluntary Carbon Credit Digital Solution - Carbon Herald

Univers, a leading decarbonization technology player, and Citi announced an innovative software solution that enables organizations to seamlessly purchase Voluntary Carbon Credits (VCCs). In doing so, organizations active in voluntary carbon markets can support projects that aim to reduce, avoid or remove greenhouse gases (GHG).

Users of Univers’ EnOS Ark Energy & Carbon Management platform will be able to calculate their Scope 1 to 3 carbon emissions footprint and access carbon credits projects from Citi’s portfolio.

Relevant: Citi Says It Will Use Carbon Credits And So Will Its Clients

The first company to use the solution is a global leader in clean tech manufacturing, purchasing credits from a project providing 850,000 fuel-efficient cookstoves free of cost to rural households in Vietnam. The cookstove project, will be the flagship project of Univers’ innovative new proposition.

According to Univers, this solution can help the customer offset part of its 2023 and 2024 Scope 1 to 3 carbon emissions, thereby demonstrating its strong commitment to the low-carbon transition.

Michael Ding, Global Executive Director of Univers, said: “We are very excited to collaborate with Citi on this innovative proposition, and to add verified VCCs to our platform’s solutions for carbon measurement, reporting and abatement, enabling our mutual clients to accelerate their low-carbon transition.”

Relevant: Citibank Publishes VCM Report, Says Market Needs To Close $1.7T Climate Investment Gap

Sonia Battikh, Global Head of Carbon Offsets Trading at Citi, said: “Understanding our client’s broader sustainability ambitions enables us to better engage and offer suitable solutions. We are pleased to support Univers in developing this offering, which provides a seamless service to clients as they embark on their sustainability journey.”

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