CarbonClear presents a new data-driven carbon credit model at Clinton Global Initiative
Updated: Sep 23, 2022
Danish scale-up CarbonClear featured as a commitment maker at high profile Clinton Foundation event to future-proof the carbon market with their technology-powered solution.
Copenhagen, Denmark September 20th, 2022
At the Clinton Global Initiative (CGI) 2022 meeting in New York on the 19th of September 2022, Danish scale-up CarbonClear presented their Commitment to Action: To transform the carbon market with their data-driven inclusive model for carbon credit issuance. Their commitment addresses a fast-growing carbon market developed to deliver on the goals of the Paris Agreement, but is now collapsing under the pressure of rising demand. By leveraging data points in the CO₂ projects it funds, the CarbonClear model enables fast, reliable and cost-effective generation of third-party verified credits. Through a real-time, transparent, and secure technological infrastructure, CarbonClear provides trackable progress and connects funds with sustainable solutions. The model eliminates the heavy auditing fees that are making carbon finance inaccessible to underfunded communities today. With minimal fees and instant verification, issuance of quantifiable emission reductions happens in only 3 months – instead of the 3 years faced by the market today.
CarbonClear has already proven its transformative model through off-grid solar projects in Africa and Latin America and is planning three further technology streams to scale its inclusive value chain. With funding to scale its organisation and Advanced Market Commitment (AMC) from participants at the Clinton Global Initiative, CarbonClear will be able to consolidate its model as a new standard for carbon credits and unlock the full potential of the exponentially growing Voluntary Carbon Market, predicted to grow 100-fold by 2050.
About the Clinton Global Initiative (CGI) The Clinton Global Initiative (CGI) convenes global and emerging leaders to create and implement solutions to the world’s most pressing challenges. CGI works with partners to drive action through its unique model. Rather than directly implementing projects, CGI facilitates action by helping members connect, collaborate, and develop Commitments to Action — new, specific, and measurable plans that address global challenges. Through CGI, the community has made more than 3,700 Commitments to Action that have made a difference in the lives of more than 435 million people in more than 180 countries.
About CarbonClear Denmark-based technology company CarbonClear, formerly Solstroem, was founded by Karim Jabbar and Rachid Jabbar in 2018, and creates carbon finance for sustainable impact through renewable and circular capacity building. Neither a SaaS nor a digital marketplace, the CarbonClear model is a tech-powered carbon value chain that aggregates big data from data points implemented in carbon projects and issues third-party verified, traceable carbon credits that instantly become available to global buyers. The company already has partnerships with some of the largest distributors of solar home systems in Africa and the Americas, such as SunKing, ENGIE Energy Access, Zola Electric, and iluméxico, and is developing a further three technology streams; Clean Cooking, Waste to Energy, and Sanitation.