February 19 (Renewables Now) - Spanish renewable energy company Acciona SA (BME:ANA) has agreed to team up with Valencia-based Climate Blockchain Initiatives (CBI) to support the global expansion of the start-up's carbon credits trading platform.
The ClimateTrade platform uses blockchain technology to make commercial transactions between vendors and buyers of carbon offsets easier and faster, and by removing intermediaries, the process comes with competitive fees, its developers claim.
According to Acciona, selling Certified Emission Reduction (CER) credits under the Kyoto Protocol usually requires more than two months, while on ClimateTrade, this can be done in 48 hours.
Acciona said it will place its own CERs on the platform and link them to renewable power projects in developing countries, namely in Mexico, Chile and Costa Rica. The company will also inform on its activities around these projects that are in line with the Sustainable Development Goals (SDGs).