Companies would like to do their part to combat climate change and would like to offer greenhouse gas compensation schemes to their customers. The company and its customers want proof that their contribution reduces the CO2 footprint. Here is where the blockchain can play a vital role in offering more transparency and audibility.

What problem does the Green House Gas Token solve?

Although companies would like to offer their customers a way to compensate for the GHG emission for the production of goods, it is complex to set up a GHG compensation scheme.

Currently, if a company wants to offset its greenhouse gas footprint, it must buy GHG certificates. The Green House Gas Utility token uses blockchain technology to fractionalize these certificates. Fractionalizing enables companies and their clients to participate in CO2 reduction schemes and compensate for their carbon footprint.

The Green House Gas Utility token enables companies to offset greenhouse pollution more accurately, opening up the opportunity for SMBs to participate in combating climate change. Because the greenhouse gas offset compensation plan is easily scalable, it is also a viable option for larger companies and institutions.

The Green House Gas Utility token enables companies and customers to offset GHG emissions. Furthermore, showing the impact on product or service level will make the customer aware of the impact and can choose a product with lower greenhouse emissions.

Green House Gas Standards and Token taxonomy

Depending on your company’s goals, you can choose a specific greenhouse gas standard. Then, with NEXUS, you can define the GHG token taxonomy according to your selected standards. Once the taxonomy has been created, it can be attached to the token. All transactions are recorded on the blockchain, creating an immutable record of proof.

Scope 2&3 emissions

All companies need to comply with the climate goals as set in the Paris Agreement. That a manufacturer can show the carbon emissions on the product level will enable all involved parties in the supply chain to reduce the scope 2&3 emissions. Because the proof is recorded on the blockchain, the purchasing company can use it to lower its scope 2&3 emissions.

Are you Interested in creating Green House Gas tokens?

With NEXUS, our SaaS token as a service platform, we enable companies to tokenize greenhouse gas certificates by securely storing GHG compensation notifications on the blockchain.

One of our satisfied clients, 123Carbon, uses NEXUS to tokenize Carbon insets and issue them on Algorand, a carbon-positive blockchain. Additionally, we have recently published an article on our website about the importance of CO2 reduction and how NEXUS can aid in achieving that goal.

NEXUS has been in production since 2016 and is ISO 27001 and ISAE 3402 certified, ensuring the highest security and compliance standards. Our clients benefit from our technology and services without dealing with the technical aspects of the tokenization process, allowing them to focus on their core business and customer-facing services.

Please get in touch to discuss how we can help to offset greenhouse gas and build a more sustainable future.

Wacth the recorded webinar about tokenizing carbon credits over the Algorand Blockchain

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Henri de Jong

Chief Business Development Officer

Quantoz N.V.
Europalaan 100
3526 KS Utrecht
The Netherlands

Registration number: 86401386

    Published On: February 16th, 2023 / Categories: Blog, Publications / Tags: , , , , /


    Quantoz Digital Euro, EURD

    Event by: Quantoz Blockchain Technology
    Where: Online
    When: 27 June 13:30 CET