22:51:00 EDT Mon 22 Jul 2024
Enter Symbol
or Name

Shiftcarbon Inc
Symbol SHFT
Shares Issued 56,364,647
Close 2023-03-29 C$ 0.07
Market Cap C$ 3,945,525
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Shiftcarbon releases carbon credit trading platform

2023-03-30 12:34 ET - News Release

Mr. Wayne Lloyd reports


Shiftcarbon Inc. (formerly TraceSafe) has beta launched its highly anticipated carbon credit trading platform. The release is now available to all customers, offering a more resilient and flexible infrastructure to list, buy, sell and verify voluntary carbon offsets.

Demand for carbon offsets is expected to increase by a factor of 15 or more by 2030 and by a factor of up to 100 by 2050. Over all, the market could be worth upward of $50-billion by 2030. But the current market is fragmented and complex. Companies of all sizes that want to decarbonize need to measure their carbon footprint, select from hundreds of offset projects, comply with dozens of frameworks and standards, transparently report their offset purchases, and continually reassess their carbon offset strategies and risks. Shiftcarbon aims to streamline and simplify these processes and provide them as a service to its customers. It is evident, from a report by McKinsey, that the market desperately needs resilient and flexible infrastructure to accommodate high-volume listing and trading of voluntary carbon credits.

"The voluntary carbon market is an essential component in the global effort to combat climate change and create a more sustainable future," said Wayne Lloyd, Shiftcarbon chief executive officer. "We are proud to be a part of this new market, building critical infrastructure that makes carbon offsetting more accessible and streamlined for all players. Backed by the U.S. and European governments, and leading organizations like the Bezos Earth Fund and the Rockefeller Foundation, the voluntary carbon market has the potential to deliver trillions of dollars of investment to support the transition to renewables and mitigate the worst impacts of climate change."

Shiftcarbon's solution to the challenges faced by the voluntary carbon market is a resilient and flexible infrastructure that allows offset creators, buyers and sellers to seamlessly trade while maintaining transparency and trust with global verification bodies. With the completion of its private alpha, Shiftcarbon has fine-tuned its inventory management system and the innovative fractionalization engine that allows large wholesale carbon offsets to be broken down into smaller units while maintaining credit integrity. With Shiftcarbon's technology, companies can save money on building their own trading infrastructure while constructing bespoke credit portfolios that reflect their values and goals. This way, customers can purchase the right amount of offsets based on project cost, type, region or cause. With this innovation, Shiftcarbon is effectively providing efficiencies to the market, derisking the carbon portfolios of its customers and allowing customers to align their carbon offsetting activities with their mission.

To make it easier and more affordable for companies of all sizes to purchase carbon offsets, Shiftcarbon's carbon accounting platform provides an easy-to-use interface for measuring emissions, while the company's MRV (measurement, reporting and verification) automation platform aims to promote and make the creation of voluntary carbon credits more efficient by significantly reducing the cost and complexity of data collection for some of these projects. All of this is tied together by Shiftcarbon API, which enables customers to embed offsets directly into their business workflows, including Web checkouts. By streamlining the entire offsetting process, Shiftcarbon is making it easier for companies of all sizes to contribute to a more sustainable future.

"We are proud to partner with some of the biggest players in the sustainability market to power the listing, trading and verification of voluntary carbon credits," said Qayyum Rajan, head of carbon products at Shiftcarbon. "By connecting our infrastructure with our partners, we are powering a truly global and open market for voluntary carbon offsets."

About Shiftcarbon Inc.

Shiftcarbon provides an innovative platform for carbon accounting, offsets and MRV (measurement, reporting and verification) automation. Businesses can use Shiftcarbon Measure to view a complete picture of their carbon emissions, without the need to hire external consultants or use manual calculations. Shiftcarbon Offset provides enterprises with powerful application programming interfaces that allow customers to embed carbon offsets into their business.

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