Last Updated on: 22nd November 2023, 03:14 am
Thallo, an innovative climate technology firm, has unveiled an integration with ICROA-endorsed SOCIALCARBON, a venerable standard-setting entity renowned for its focus on nature-based solutions that yield quantifiable social, environmental, and economic benefits for local communities.
Marking the third registry to merge into Thallo’s pioneering two-way carbon bridge, this collaboration facilitates the secure movement of carbon credits from a registry onto and off a public blockchain. The inclusion of SOCIALCARBON’s credits, referred to as “Social Carbon Units,” synergises with Thallo’s existing registry integrations involving Puro.earth and BioCarbon Registry. Notably, these two registries predominantly issue engineered carbon removals and nature-based carbon avoidance credits, respectively.
Ryan Gledhill, Co-founder and CEO of Thallo, stated, “This announcement signifies a pivotal stride towards granting our clients access to the entire carbon market. We’re delighted to integrate with SOCIALCARBON, a standard that not only aligns with our dedication to environmental and social welfare but also manifests an inclination towards leveraging top-notch technology for innovation.”
Mike Davies, CEO of Social Carbon Foundation, expressed enthusiasm about collaborating with key industry players to amplify the value for their network of project developers and buyers. He noted, “This integration will augment liquidity options for project developers embracing the SOCIALCARBON Standard, bolstering their capacity to deliver tangible impact.”
Thallo has already initiated its Carbon-as-a-Service offering, allowing clients to leverage the two-way bridge to access blockchain-tokenised carbon credits. The Thallo carbon marketplace, designed for carbon buyers to directly procure credits from project developers, is set to launch in the forthcoming months.
SOCIALCARBON stands as a holistic international Greenhouse Gas (GHG) standard centred on Nature-Based Solutions. Having transitioned from a co-benefit standard to a comprehensive standard in 2022, it presently hosts 6 listed projects, with a robust pipeline of 30 projects anticipated for 2024. As an ICROA-endorsed entity and conditionally approved under CORSIA, SOCIALCARBON operates a blockchain-based registry, harnessing cutting-edge technology to enhance the auditability, transparency, and security of SCUs issued within its Standard.
