BNP Paribas Securities Services launches ClimateSeed, its first accredited Social Business
09.11.2018 | Press release
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.
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Notes to editors:
ClimateSeed is fully owned by BNP Paribas Securities Services.
About BNP Paribas Securities Services (www.securities.bnpparibas.com)
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.
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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).
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