Northern Trust Boosts Digital Carbon Credit
Northern Trust has launched a digital platform for institutional voluntary carbon credit transactions, based on private ledger digital blockchain technology. The platform aims to streamline and digitize the complex process between institutional buyers and project developers, bridging the gap between buyers and developers. The platform aims to address challenges in clarity, operational efficiency, and ease of access in the carbon credit market, which has historically struggled to provide transparent and efficient access to carbon credits from leading project developers.
Northern Trust has developed a platform for carbon credit, partnering with developers like Go Balance Limited and ReGen III to create a robust and inclusive ecosystem. The platform facilitates online transactions using smart contracts and blockchain technology, ensuring seamless transfers and efficient settlement of digital credits for fiat currency. This collaboration demonstrates Northern Trust’s commitment to fostering a robust and inclusive carbon credit ecosystem. The platform also provides transparency and confidence for buyers and developers throughout the carbon credit transaction lifecycle.
(With inputs from Shikha Singh)
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