Thallo among just 5 companies selected to participate in effort likely to set industry standard
London, UK (February 28 2023) – World-recognized standard and certification body Gold Standard today announced it has chosen Thallo among just five organizations to help review and assess its new proposed guidelines for allowing the digitization of Gold Standard-issued carbon credits.
This marks a big step forward from last year, when many carbon registries expressed hesitancy or issued moratoriums around the digitization of their carbon credits.
The second-largest carbon credit issuer by volume, Gold Standard is widely considered the global leader in carbon credit quality, with an emphasis on fostering sustainable development in addition to carbon reduction or removal. Given its influence, decisions Gold Standard makes with regard to digitization and tokenization are likely to set a new standard that other registries will follow.
Thallo has been invited to review and provide feedback on the overall suitability and completeness of the proposed guidelines for the creation of digital assets, as well as to assess ability to comply. Feedback from these consultations will inform decisions by Gold Standard on the introduction of the guidelines, as well as any areas for improvement or amendment.
The organization chose Thallo to participate in this effort for a number of reasons, including the company’s active participation in the Gold Standard-led invite-only Working Group on Digital Assets for Climate Impact and in Gold Standard’s public consultation process. Thallo’s business model which involves bridging from the Gold Standard Impact Registry, and the fact that Thallo is registered in the UK, also played a part in Gold Standard’s decision.
“In making this decision, Gold Standard is recognizing our leadership in the industry and our commitment to preserving and even enhancing the integrity of carbon credits,” said Joseph Hargreaves, Thallo Co-Founder and Chief Strategy Officer. “Since Gold Standard is the second largest issuer of carbon credits by volume globally, this announcement is a major step toward the full digitization of the voluntary carbon market. We are proud to play our part and look forward to other registries following suit.”
Gold Standard’s choice of Thallo to help develop new digitization guidelines complements Thallo’s existing registry integrations with BioCarbon Registry and Puro.earth. These registries are connected to Thallo’s two-way carbon bridge, a piece of technical infrastructure that allows for the tokenization of carbon credits securely from a registry onto a public blockchain.
“With collaborative work such as this, we aim to encourage the creation of effective and inclusive digital solutions to achieve the high-functioning and inclusive carbon market needed to address the climate emergency,” said Margaret Kim, Gold Standard CEO.
Thallo has already moved more than 24,000 carbon credits onto the blockchain through its two-way bridge, including from registries Puro.earth and BioCarbon Registry. The full Thallo carbon exchange, which will connect carbon credit suppliers directly with the end buyers, will be launched later this year.
Thallo uses first-of-its-kind blockchain technology to revolutionize and democratize the carbon markets, making it easier for buyers and sellers of high-quality carbon credits to find each other. Its team of veteran blockchain entrepreneurs and climate tech professionals combine technological expertise with deep sustainability knowledge to build the carbon marketplace of the future. Follow Thallo on Twitter and LinkedIn or join our Telegram group for updates. For more information, visit www.thallo.io.