BNP Paribas Securities Services’ voluntary carbon offsetting platform, ClimateSeed, is now live with 19 project developers promoting and selling carbon credits representing 8 million tonnes of carbon dioxide equivalents on the platform.
ClimateSeed, which was launched today at the Global Social Business Summit 2018, was developed with the support of Grameen Creative Lab co-founded by Nobel Peace Prize laureate Professor Yunus. In line with Social Business principles, ClimateSeed will reinvest all its profits in its development to maximise its positive impact on society and the environment.
Patrick Colle, General Manager of BNP Paribas Securities Services, said:
“The launch of ClimateSeed is part of the commitment BNP Paribas has made to encourage decarbonisation and carbon neutrality. This new digital platform allows us to leverage our expertise to contribute to the Sustainable Development Goals of the United Nations. As well as supporting climate action, voluntary carbon offsetting projects often help bring more prosperity and social inclusion in local communities We are especially proud that ClimateSeed has been accredited as a Social Business.”
Sébastien Nunes, Chief Executive Officer of ClimateSeed, said:
“We are excited to be launching ClimateSeed today. Currently, many voluntary carbon reduction projects remain unfunded. Our objective is to address this issue by connecting investors with project developers through a centralised platform, which we believe will spur the development of the voluntary offsetting of carbon emissions.”
Built as a marketplace, ClimateSeed connects businesses looking to offset their carbon emissions and contribute to the United Nations’ Sustainable Development Goals with project developers offering voluntary carbon credits and looking for funding.
ClimateSeed aims to increase the transparency, security and efficiency of the voluntary carbon market. For that purpose, ClimateSeed performs a three-level verification process on each project promoted on its platform including certification checks by a renowned international Standard, due diligence on the project developer and project analysis from a sustainability committee.
Project developers live on the platform include Permian Global, Microsol, Nexus, Biofilica, The GoodPlanet Foundation, Reforest’Action, Althelia Funds, UPM CDM, United Purpose, PUR Projet, CO2OL, First Climate, Sustainable Carbon, Carbonsink, Carbon Tanzania, AERA Group, HydroLogic, Ecotree and Green Resources.
Clients who have decided to offset their carbon emissions through ClimateSeed include the UIC (International Union of railways) and Liquidshare.
-Ends-
Press Contacts
Claire Helleputte claire.helleputte [at] bnpparibas (dot) com +33 (0)1 55 77 89 63
Caroline Lumley caroline.lumley [at] uk.bnpparibas (dot) com +44 (0)20 7410 4650
Simon Danaher simon.danaher [at] uk.bnpparibas (dot) com +44 (0)20 7595 9108
BNP Paribas Securities Services on Twitter - @BNPP
Notes to editors:
ClimateSeed is fully owned by BNP Paribas Securities Services.
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With local expertise in 36 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
The information contained within this document (‘information’) is believed to be reliable but BNP Paribas Securities Services does not warrant its completeness or accuracy. Opinions and estimates contained herein constitute BNP Paribas Securities Services’ judgment and are subject to change without notice. BNP Paribas Securities Services and its subsidiaries shall not be liable for any errors, omissions or opinions contained within this document. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. For the avoidance of doubt, any information contained within this document will not form an agreement between parties. Additional information is available on request.
BNP Paribas Securities Services is incorporated in France as a Partnership Limited by Shares and is authorised and supervised by the European Central Bank (ECB), the ACPR (Autorité de Contrôle Prudentiel et de Résolution ) and the AMF (Autorité des Marchés Financiers).
BNP Paribas Securities Services, London branch is authorised by the ACPR, the AMF and the Prudential Regulation Authority and is subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority and regulation by the Financial Conduct Authority are available from us on request. BNP Paribas Securities Services, London branch is a member of the London Stock Exchange. BNP Paribas Trust Corporation UK Limited (a wholly owned subsidiary of BNP Paribas Securities Services) is incorporated in the UK.
In the U.S., BNP Paribas Securities Services is a business line of BNP Paribas which is incorporated in France with limited liability. Services provided under this business line, including the services described in this document, if offered in the U.S., are offered through BNP Paribas, New York Branch (which is duly authorized and licensed by the State of New York Department of Financial Services); if a securities product, through BNP Paribas Securities Corp. which is a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC and the Financial Industry Regulatory Authority; or if a futures product through BNP Paribas Securities Corp., a Futures Commission Merchant registered with the Commodities Futures Trading Commission and a member of the National Futures Association.
Contact
- Corporate & Institutional Banking
- Corporate & Finance
- Economic Research