Carbon Opportunities Fund and Sumitomo Corporation of Americas Lead the Way with First Transaction of Tokenized Carbon Assets reflected in the Climate Action Data Trust
In an important step for carbon markets, and key milestone for the Carbon Opportunities Fund and Sumitomo Corporation of Americas (SCOA) announced one of the first transactions of tokenized carbon credits leveraging the Climate Action Data Trust (CAD Trust) built on the Chia blockchain.
The transactions saw SCOA purchasing the first batch of carbon credits tokenized on the Chia blockchain, demonstrating the successful implementation of the Fund’s concept and vision, utilizing the Climate Action Data Trust (“CAD Trust”), a part of the World Bank’s effort through the Climate Warehouse to create an end-to-end digital carbon market infrastructure to increase transparency and quality of carbon credits. This diverse participation from various industries and global organizations underscores the potential of technology and tokenization in driving efficiency, increasing transparency, and fostering trust in the voluntary carbon markets.
