A blockchain-based carbon credits startup is turning heads after sent $10 million to Amazon forest conservation projects. The amount is the largest ever sent by a private player, and it was achieved in just eight months. The sale of carbon credits by MOSS pays for REDD + environmental projects that, through their sustainable activities, jointly protect and preserve an area of approximately 1 million hectares.
Launched in Q1 2020, MOSS is an environmental platform that helps companies of all sizes offset their carbon emissions through easily accessible carbon credits. Unlike other market players, this startup offers its solution on the blockchain, simplifying, and modernizing an analog industry.
The carbon credits have been tokenized through the MOSS carbon credits (MCO2) tokens. They can be acquired from FlowBTC in Brazil, with more global partners to be announced soon.
Largest Carbon Credit Tokenization Project
These tokens cater to both consumers and corporations, either for current use or future emission compensation. By putting carbon credits on the blockchain, MOSS has managed to do what no other company has done before. As such, MOSS is now the largest carbon platform globally. Additionally, the MCO2 token is the largest carbon credit tokenization project in history.
During the initial stage, the team focuses its attention on Brazilian conservation efforts. Brazil can certify up to 1.5 billion carbon credits per year. Doing so will help various environmental projects expand their activities through this $60 billion capital injection. With the help of MOSS and blockchain technology, this process will become more accessible for all parties involved.
This year, the company completed a $3.3mn seed round with several prestigious C-level company owners and sustainability authorities in Brazil. As a result, MOSS has managed to secure carbon contracts for the next 4 years
MOSS CEO Luis Felipe Adaime explains:
“MOSS believes in a market solution to mitigate greenhouse gases’ effects on global warming. An advanced carbon credit market contributes to sustainable development, and Brazil has the duty and the privilege to be the global natural leader in this sector.”.
Growing Demand For Carbon Credits
MOSS’ solution comes when there is a high demand from organizations and companies to offset their carbon emissions. Of the 55 billion tons of CO2 released into the atmosphere each year, only about 11 billion are compensated, leaving a huge deficit. Large companies like Microsoft, Unilever, Amazon, Verizon, Delta, Jet Blue, and many others have pledged their goals to become carbon-neutral. This has increased the demand for carbon certificates. Thanks to its action behind the scenes, MOSS currently holds 20% of the global carbon credits supply. This is more than enough to meet the demand of these companies.
Statistics show that Amazon and Microsoft alone require about 60 million tons of voluntary carbon credits to offset their emissions each year. A significant amount that would normally have to be acquired through archaic and outdated means. MOSS’s revamp of the industry-transforming an analog industry into a digital market – has made this process a lot more streamlined. All of this has been achieved in just eight months.
MOSS has bought and sold over 900,000 tons of carbon credits worth around $25 million. Anyone can contribute to the fight against carbon emission.
MOSS Is Different
The MOSS digital platform is unique. The protocol, based on blockchain technology, allowed for the creation of MCO2 as a utility token. The protocol acts as a building block, giving others the chance to innovate and create new applications, services, and products incorporating the carbon credits market.
Each MCO2 token represents one carbon credit or one ton of CO2 to be offset. Through tokenization, the startup has managed to increase the security and trackability of these credits. Transparency is key in this important industry.
Furthermore, MOSS has had its technology audited by top companies like CertiK, Perkins Coie. EY And Armanino are also currently auditing the project’s flows and ledger. These steps help make the platform the go-to place for consumers and corporations looking to offset their carbon emissions today or in the future.