Vancouver, British Columbia--(Newsfile Corp. - March 30, 2023) - ShiftCarbon (CSE: SHFT) (OTC Pink: SHIFF) (formerly TraceSafe) (the "Company"), a global leader in the Internet of Things (IoT) platforms and an innovator in end-to-end decarbonization solutions is excited to announce the beta launch of its highly anticipated carbon credit trading platform. The release is now available to all customers, offering a more resilient and flexible infrastructure to list, buy, sell, and verify voluntary carbon offsets.
Demand for carbon offsets is expected to increase by a factor of 15 or more by 2030 and by a factor of up to 100 by 2050. Overall, the market could be worth upward of $50 billion by 2030. But the current market is fragmented and complex. Companies of all sizes who want to decarbonize need to measure their carbon footprint, select from hundreds of offset projects, comply with dozens of frameworks and standards, transparently report their offset purchases, and continually reassess their carbon offset strategies and risks. ShiftCarbon aims to streamline and simplify these processes and provide them as a service to our customers. It is evident from a report by McKinsey, that the market desperately needs resilient and flexible infrastructure to accommodate high-volume listing and trading of voluntary carbon credits.
"The voluntary carbon market is an essential component in the global effort to combat climate change and create a more sustainable future," said Wayne Lloyd, ShiftCarbon CEO. "We are proud to be a part of this new market, building critical infrastructure that makes carbon offsetting more accessible and streamlined for all players. Backed by the U.S. and European governments and leading organizations like the Bezos Earth Fund and the Rockefeller Foundation, the voluntary carbon market has the potential to deliver trillions of dollars of investment to support the transition to renewables and mitigate the worst impacts of climate change."
ShiftCarbon's solution to the challenges faced by the voluntary carbon market is a resilient and flexible infrastructure that allows offset creators, buyers, and sellers to seamlessly trade while maintaining transparency and trust with global verification bodies. With the completion of its private alpha, ShiftCarbon has fine-tuned its inventory management system and the innovative Fractionalization Engine that allows large wholesale carbon offsets to be broken down into smaller, units while maintaining credit integrity. With ShiftCarbon's technology, companies can save money on building their own trading infrastructure while constructing bespoke credit portfolios that reflect their values and goals. This way, customers can purchase the right amount of offsets based on project cost, type, region, or cause. With this innovation, ShiftCarbon is effectively providing efficiencies to the market, de-risking the carbon portfolios of its customers, and allowing customers to align their carbon-offsetting activities with their mission.
To make it easier and more affordable for companies of all sizes to purchase carbon offsets, ShiftCarbon's carbon accounting platform provides an easy-to-use interface for measuring emissions, while the Company's MRV automation platform aims to promote and make the creation of voluntary carbon credits more efficient by significantly reducing the cost and complexity of data collection for some of these projects. All of this is tied together by ShiftCarbon API, which enables customers to embed offsets directly into their business workflows, including web checkouts. By streamlining the entire offsetting process, ShiftCarbon is making it easier for companies of all sizes to contribute to a more sustainable future.
"We are proud to partner with some of the biggest players in the sustainability market to power the listing, trading, and verification of voluntary carbon credits," said Qayyum Rajan, Head of Carbon Products at ShiftCarbon. "By connecting our infrastructure with our partners, we are powering a truly global and open market for voluntary carbon offsets."
About ShiftCarbon
ShiftCarbon provides an innovative platform for carbon accounting, offsets, and MRV (Measurement, Reporting and Verification) automation. Businesses can use ShiftCarbon Measure to view a complete picture of their carbon emissions, without the need to hire external consultants or use manual calculations. ShiftCarbon Offset provides enterprises with powerful APIs that allow customers to embed carbon offsets into their business. Find more details on www.shiftcarbon.io.
ShiftCarbon also operates TraceSafe, a leading IoT cloud platform. The solution uses sensor technology to deliver precise and timely information, powering safer and smarter enterprise environments. With a presence across North America, Asia and Europe, TraceSafe is trusted by leading organizations in healthcare, hospitality, construction, events, education, and government. Find more details on www.tracesafe.io.
For further information, please contact:
Wayne Lloyd, CEO
+1 (604) 629-9975
wayne@shiftcarbon.io
Mark Leung, CFO
+1 (778) 655-4242
mark@shiftcarbon.io
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on ShiftCarbon's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the ShiftCarbon assets and their application, future business plans and relationships, future developments in respect of carbon and climate risks and solutions adopted in response to climate change, and the deployment and acceptance of the ShiftCarbon technology. Although ShiftCarbon believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments respond to climate change and impact of carbon emissions and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and ShiftCarbon undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160531
