Net Zero Holdings Group, signs an exclusive “Franchise Agreement” for Korea with Capturiant
To provide high-quality carbon credits for domestic companies to meet their global carbon offset needs and support promising carbon offset technology companies to enter the voluntary emissions market
SEOUL--(Korea Newswire)--Established in 2004, Net Zero Holdings Group, a company dedicated to carbon neutrality, revealed its recent accomplishment of securing an exclusive franchise agreement for Korea with Capturiant. Capturiant, a prominent US entity specializing in technology-driven verification, certification, carbon credit registry, and the exchange of premium global environmental assets, is now part of this significant collaboration.
Capturiant, a relatively recent entrant in the field of environmental asset registration and trading, focuses on certifying, registering, and trading technology-based environmental assets that undergo scientific, rigorous, and quantitative measurement and verification. This includes a variety of environmental assets. Numerous North American companies are increasingly obtaining carbon credits through their association with Capturiant
The surge in global demand for carbon offsets has fueled a significant expansion in the market for voluntary carbon credits. McKinsey predicts that this market could grow by up to $50 billion by 2030. Nevertheless, issues with current voluntary credits have emerged, including transactional opacity, uncertainties in reduction calculations, and doubts about the actual efficacy of the reductions. Addressing these concerns, the 28th Conference of the Parties (COP28) held in Dubai last month deliberated on various complementary measures to overcome these limitations.
Specifically, there is a proposal to incorporate blockchain technology to prevent the duplication of traded credits and enhance transaction transparency. Despite prevalent skepticism regarding the application of blockchain to carbon credit trading due to elevated gas prices and energy consumption, Hedera Hashgraph garnered notable attention at the recent COP28 in Dubai. Hedera Hashgraph stands out as a more environmentally friendly distributed ledger technology compared to existing blockchains and has the capability to simultaneously share MRV (measurement, reporting, verification) related information. Capturiant, an emission trading platform, is among those that have embraced Hedera Hashgraph.
Capturiant has recently entered into a carbon offset agency agreement with one of North America's largest automotive dealerships via Greenshield Offset, an affiliate of Capturiant. Additionally, Capturiant serves as the advisor to the carbon offset portfolio manager, facilitating the sale of carbon credits to Tesla Model Y buyers who voluntarily seek to offset the carbon footprint generated from driving the car post-purchase.
Presently, high-cost carbon removal credit initiatives like CCS (carbon dioxide capture and storage) and DAC (atmospheric direct capture) experience pre-purchase transactions with surging global demand. However, local companies and institutions face challenges in directly engaging with international carbon removal projects or acquiring emission rights due to constraints in capital, information, and awareness. This exclusive franchise agreement aims to address this gap, facilitating the domestic supply of diverse, high-quality carbon removal (CDR) credits secured by Capturiant at a consistent price. Moreover, it serves as a pivotal platform for companies possessing carbon reduction-related technologies to undergo technology validation and issue credits, thereby capitalizing on the global carbon credit market.
Hee-won Park, CEO of Net Zero Holdings Group, expressed that the exclusive franchise agreement will elevate Korea's voluntary carbon credit market further, which has been trailing behind developed nations. Additionally, it will act as a conduit for Korean climate tech startups to access the global carbon credit market.
Established in 2004, Net Zero Holdings Group is a dedicated carbon-neutral service company offering a range of services to domestic companies and financial institutions. These services enable them to invest in carbon offset assets and acquire premium carbon credits within the intensifying global market, currently influenced by the ongoing carbon trade dynamics.
Net Zero Holdings Group
Kyo-Young Jin CTO
This is a news release distributed by Korea Newswire on behalf of this company.