A Back-to-Back Launch at COP27

November 5, 2022

A Back-to-Back Launch at COP27

At COP27 next week, Salesforce will launch 3 new initiatives as part of its climate commitment while Nigeria will also introduce its billion-dollar Voluntary Carbon Market (VCM) called "ACMI" at the same summit.

But before that happens, Xpansiv Market CBL announced the launch of another carbon offset contract, while a Swedish startup is upgrading its next-generation electric plane prototype. 

COP27 hasn’t yet started but this week is already full of big news, so buckle up!  

Not 1 or 2, But 3 Salesforce Initiatives

When it comes to finding solutions for climate change, Salesforce’s name keeps popping up in the news.

Apart from pouring millions of dollars into various projects that avoid or remove carbon, the company will launch 3 new initiatives at the COP27 next week in Egypt.

 

• The Blue Carbon Framework: ensuring that blue carbon credits maximize results for the climate, people, and biodiversity.

• The Nature Accelerator: gives nonprofits the capital they need to pursue innovative ideas and scale climate action.

• The Eco-Restoration Project in Zambia: restore and grow 30 million trees across the African nation, resolving issues on land degradation and poor environmental governance

Nigeria And Its Billion-Dollar VCM

In the VCM space, Africa was not a big part of the equation, but that could change with recent news coming out from across the continent.

The latest news is that Nigeria will announce the creation of the Africa Carbon Markets Initiative (ACMI) next week at COP27.

The ACMI's goal is to expand Africa’s participation in the global VCMs.

Members include the VP of Nigeria, the former President of Colombia, and various other major African figures. 

ACMI estimated that the nation can generate up to 30 million carbon credits each year by 2030 and that its VCM will be worth over half a billion dollars yearly.

The Newest GEO

If one has to Google “Global Emissions Offset” (GEO), CBL is the top result as Xpansiv's CBL is the largest spot exchange for ESG commodities such as carbon.

Xpansiv's carbon suite recently launched another contract called Sustainable Development Global Emissions Offset Contract (SD-GEO).

CBL SD-GEO will enable the delivery of cookstove projects which deliver at least 5 UN Sustainable Development Goals (SDGs) to ensure that the credits have substantial co-benefits apart from abating carbon emissions. 

It will start to trade on 5 December.

Dipping Wings into Electric Planes

While some would say that the commercial operation of electric planes is still a fantasy, technology is advancing it closer to becoming a reality.

Heart Aerospace' has been securing up LOIs from various airlines from around the world for its new ES-30 electric airplane.

ES-30 is a regional 30-passenger electric-hybrid plane that offers fully electric zero-emissions. Flights range upward of 200 km with 30 passengers and 800 km with 25 travelers.

And with their ability to cut 90% fuel costs, 50% lower maintenance, and 66% quieter, electric planes are set to help lower the overall emissions of the aviation industry.

Carbon Fact of the Week

20 billion tons of CO2. That’s how much carbon the Evergreening Alliance - Salesforce’s partners in Zambia - hope to remove from the atmosphere by mid-century.

Doing so will require the restoration of 500 million hectares of degraded agricultural land, 575 million hectares of forests, and 650 million hectares of mixed pasture.

Source: https://carboncredits.com/