> VERIFAVIA's First Insetting Assurance Audit for Blockchain Tokens
VERIFAVIA's First Insetting Assurance Audit for Blockchain Tokens
VERIFAVIA is proud to announce that as part of a pilot project with DS Norden we have successfully completed an independent assurance audit of the first carbon inset blockchain tokens for marine decarbonisation on the 123Carbon platform, raising the bar on transparent and scalable carbon insetting.
The tokens can be created not just for marine, but air and rail decarbonisation as well.
The insetting is based on the Global Logistics Emissions Council (GLEC) framework by the Smart Freight Centre.
Nicolas Duchêne, General Director of Verifavia, said: “Carbon insetting differs from carbon offsetting in that carbon emissions are reduced directly within the shipping value chain, rather than somewhere outside of and unrelated to the industry. Unlike carbon offsetting, the entire chain of custody for the insetting process is independently verified – as well as the reductions corresponding to an intervention – enabling genuine transparency over carbon reductions supported by reliable certification.”Every token guarantees complete ownership to the buyer and provides full transparency and chain-of-custody with regards to the biofuel interventions, emission calculations, assurance and risks mitigations.
123Carbon was founded to accelerate the decarbonisation of transportation. The industry needs to be able to make investments in carbon reduction projects on behalf of customers and beyond, and allocate the resulting carbon reductions to organisations wishing to pay for their transportation emissions. That solution is called carbon insetting.