EBENE, Mauritius, December 16, 2021 (GLOBE NEWSWIRE) – Xange.com, a sustainably managed stock exchange operating in partnership with the United Nations, announced today that it will develop a carbon credit solution on the XRP Ledger (XRPL) carbon neutral.
Xange.com works alongside the United Nations Development System (UNDS), focusing on African market infrastructure solutions for carbon markets and contributing to the Sustainable Development Goals.
In this context, Xange.com is preparing to launch the Voluntary Carbon Credit Infrastructure Implementation to Guide Carbon Credit Offsets from the Great African Green Wall Initiative.
Xange.com will develop a carbon credit solution in the XRP Ledger to issue token carbon credits, according to standards set by leading industry working groups such as the InterWork Alliance (IWA), the Global Blockchain Business Council (GBBC) initiative, and the Task Force on Scaling up Voluntary Carbon Markets (TSVCM). ), of which Xange.com is a member.
The IWA Sustainability Working Group created a Voluntary Environmental Markets (VEM) task force to define coding standards for key elements of carbon credits, including contractual extensions, workflows, and analyzes to create a standards-based environmental marketplace. These standards, based on the IWA Token Classification Framework (for Token Standards) and the InterWork Framework (for Smart Contract Standards), will serve as the basis for the Xange.com carbon credit solution in the XRP ledger.
Xange.com chose to build on the XRP Ledger due to its performance, scalability, and inherently green features. XRP Ledger was designed with sustainability in mind and is one of the first major carbon neutral blockchains. Due to the federated consensus algorithm, XRPL is significantly more energy efficient compared to Proof of Work blockchain and ensures low-cost transactions.
Xange.com’s main focus points include the role of climate change and climate security, the prevention and mitigation of illicit financial transactions, and on carbon emissions initiatives using blockchain technology to achieve transparency in carbon accounting by avoiding double counting to reduce or eliminate emissions.
No bid, solicitation, investment advice or recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy or a recommendation of any security, nor an offer to provide investment advice or other services by Xange.com or any of its affiliates, affiliates, officers, directors or employees. No reference to any security constitutes a recommendation to buy, sell or hold this or any other security. Nothing in this release will be construed as a solicitation or offer to buy or sell any security, future, option or other financial instrument or to provide or provide any investment advice or service to any person in any jurisdiction. Nothing in this release constitutes investment advice or provides any opinion regarding the suitability of any security, and the opinions expressed in this release should not be considered as advice to buy, sell or hold any security. In preparing the information in this release, we have not taken into account the investment needs, objectives and financial circumstances of any particular investor. This information is not relevant to the specific investment objectives, financial situation and special needs of any specific recipient of this information and the investments discussed may not be suitable for all investors. Any opinions expressed in this statement have been prepared by us based on the information available to us at the time these opinions were written. Changing or additional information may cause these views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic conditions.
Xange.com is not a registered broker, financing gateway, guarantor, investment bank, investment advisor or investment manager, nor does it provide brokerage, investment banking, underwriting, recommendations or investment advice to anyone, nor does it provide any brokerage services. Xange.com is not involved in negotiating or executing secondary market transactions for the purchase or sale of securities, and at no time does it hold investors’ funds or securities in connection with such transactions.
Xange.com Limited (Mauritius) was the partner of choice of the United Nations, as the preferred private sector counterpart to establish and sustainably operate a stock exchange in the Republic of Mauritius.
Xange.com will carry the ethical banking character of the United Nations Office on Drugs and Crime as the custodian of the United Nations Convention against Corruption (UNCAC) and the United Nations Convention against Transnational Organized Crime (UNTOC), and thus, should be an example of a financial platform that upholds the principles of the goals of nations United Nations Sustainable Development (UN SDGs).
Xange.com is a private sector company with extensive experience in digitization, blockchain and fintech solutions. Xange.com democratizes access to private assets by providing a simple, automated and efficient trading venue for brokers, traders, institutions and investors. For more information about Xange.com, please visit https://www.xange.com.
About the InterWork Alliance (IWA)
The InterWork Alliance (IWA), an initiative of the Global Blockchain Business Council (GBBC), enables organizations to adopt and use token-powered services in their day-to-day operations, across use cases and networks, achieving inclusiveness for globally distributed applications.
Founded in 2020, and merged in 2021 with GBBC, the leading global industry association for the blockchain ecosystem, IWA is a key gathering point for organizations to collaborate on market-driven interoperability standards and ratings to transform digital exchanges of value. Our global membership includes leaders, adopters, innovators, developers, and companies that represent best practices for every use case that our token-powered ecosystem has to offer.
To join the IWA, please contact email@example.com. To learn more about IWA, please visit https://interwork.org/.
about the Task Force on Scaling Up Voluntary Carbon Markets (TSVCM)
The Task Force on Scaling Up Voluntary Carbon Markets (TSVCM) is a private sector-led initiative working to expand an efficient and effective voluntary carbon market to help achieve the goals of the Paris Agreement.
The task force was initiated by Mark Carney, United Nations Special Envoy for Climate Action and Finance; Headed by Bill Winters, CEO of Standard Chartered Group. It is sponsored by the Institute of International Finance (IIF) under the leadership of President and CEO of the Institute of International Finance, Tim Adams. Annette Nazareth, Davis Polk’s senior advisor and former commissioner of the US Securities and Exchange Commission, serves as the task force’s chief operating officer. McKinsey & Company provides knowledge and advisory support.
The more than 250 member organizations of the TSVCM represent buyers and sellers of carbon credits, standard setters, the financial sector, market infrastructure providers, civil society, international organizations and academia. An advisory board made up of 20 environmental NGOs, coalitions of investors, academics, and international organizations provides guidance on the TSVCM’s recommendations.
The task force’s unique value proposition was to bring all parts of the value chain together to work intensively together and provide recommended actions to the most pressing pain points facing the voluntary carbon markets. To learn more about TSVCM, please visit https://www.iif.com/tsvcm.
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