The partnership aims to promote data-backed carbon credits with end-to-end traceability. The first phase of the project will include technical integration of Everimpact’s Digital Monitoring, Reporting, and Verification (‘DMRV’) carbon tracking platform to the blockchain-based ESGpedia, which powers the ESG Registry of the Monetary Authority of Singapore's (‘MAS’) Project Greenprint.

Bringing more credibility and transparency into the carbon market
Carbon credits offer buyers - banks, corporates, and individuals - the opportunity to offset their carbon emissions while they take steps towards net zero. While carbon credit is a critical instrument in the transition to a net zero economy, the carbon market has been surrounded by fears of greenwashing due to issues of double-counting, the lack of digital infrastructure to facilitate the MRV process for carbon credit projects, as well as data fragmentation (data is often stored in a plethora of different registries, and even sometimes exclusively in hard-copy forms). These challenges not only undermine trust in carbon credits, but also hinder the contribution of carbon credits to reaching net zero.

The main benefits that the partnership seeks to enable include greater transparency of the carbon credits lifecycle, with buyers and users being able to easily access attributes and data of carbon credits via a common, standardized registry, ESGpedia. This allows them to better understand the quality of the carbon offsets, facilitating better investment decisions.

Another key benefit for buyers is the end-to-end traceability of the carbon credits, with the following all immutably recorded onto ESGpedia: the origination of carbon credits by Everimpact, the transaction and ownership details of each carbon credit, as well as the immediate retirement of carbon credits upon purchase, to ensure no repeated or double-trading of the carbon credits. This is especially important in ensuring that the money used to buy carbon credits goes towards contributing to an actual net positive climate impact.

Accurate, real-time measurement of GHG emissions available through ESGpedia
Through the partnership, Everimpact’s carbon MRV tracking platform will be used to measure greenhouse gas (‘GHG’) emissions more accurately via its system of satellites, sensors, traffic, buildings, and other IoT devices. Banks and corporates can access these carbon data aggregated on a high-level via ESGpedia, which serves as a common, standardized digital registry for holistic ESG certifications and data across various sectors and global verified sources. For more granular data regarding specific carbon offsets, buyers can click in and dive deeper via Everimpact’s platform.

Mathieu Carlier, CEO and Founder at Everimpact, said: “Cities and companies have a crucial role to play to accelerate the transition to a low carbon world. Thanks to Everimpact's innovative carbon tracking system, they are now able to monitor their carbon footprint in real time, identify the best opportunities to cut emissions, and access new funding for their decarbonisation projects. We’re excited to partner with STACS to bring an end-to-end digital platform to banks and corporates, so they can invest in carbon offsets they can trust. We make it possible to track a tonne of CO2 right from the source, and turn it into a trackable and certified digital financial asset. We want to make it easy for organisations to invest in reliable carbon offsets which have a proven impact to fight climate change.”

Benjamin Soh, Managing Director at STACS, said: “At STACS, we aim to enable banks and corporates on their journey towards carbon neutrality via holistic ESG data and technology. Through our partnership with Everimpact via ESGpedia, we seek to bring greater transparency to the global carbon market and enable high-quality data-backed carbon credits with end-to-end traceability, so as to ensure the integrity of the carbon credits traded.”