BNP Paribas Securities Services planning platform for voluntary offsetting of carbon emissions

BNP Paribas Securities Services is planning to launch ClimateSeed, a platform that aims to bring together investors and organisations committed to carbon offsetting projects.

This initiative is part of BNP Paribas’ long-standing commitment to help combat climate change and promote the UN Sustainable Development Goals.
 
ClimateSeed will act as a centralised platform where investors and companies looking to invest in voluntary carbon offsetting projects will be able to connect easily to projects carriers looking for funding.
 
The ClimateSeed platform will reinvest 100 per cent of its profits in its development and initiatives designed to enhance its impact.
 
Patrick Colle, CEO at BNP Paribas Securities Services, says: “To date, there is no centralised, transparent, and efficient platform to buy and sell carbon credits of voluntary offsetting projects. As a result, investors and project carriers struggle to match their needs and many carbon offset projects remain unfunded. We believe that the creation of this centralised platform, underpinned by a solid technology infrastructure, will spur the development of the voluntary offsetting of carbon emissions.”
 
ClimateSeed will provide a social network facilitating the exchange of information between project carriers and investors. Project carriers will be able to promote their projects on the platform while investors will gain better visibility on the wide variety of sustainable projects on offer.
 
Participants will be able to buy and sell voluntary carbon credits and manage their investments directly via the ClimateSeed platform. The platform will be underpinned by a solid post-trade infrastructure - built and operated by BNP Paribas Securities Services– to give participants full visibility and traceability on their transactions.
 
Project carriers selling carbon credits via the platform will be vetted by an ethics board comprising carbon market experts, universities, NGOs, and auditors.
 
ClimateSeed is due to launch in mid-2018.