LONDON (October 3, 2022) — Thallo, a web3 climate startup that is building a new marketplace for high-quality voluntary carbon credits, has named Ripple and Climate Collective among its 23 initial partners for its first-of-its-kind blockchain-based marketplace.
Thallo solves the problems with liquidity and opaque pricing data in today’s carbon market, making it easier for buyers and sellers of high-quality carbon credits to find each other. Its team is split between experts in climate and sustainability as well as web3, working at the intersection of these two industries to make carbon credit marketplaces better.
“I’m honoured that some of the most trusted organisations in web3 and climate, such as Ripple and Climate Collective, have chosen us as a key partner in tokenized carbon credits,” said Joseph Hargreaves, Thallo Co-Founder. “Together, we will help make the voluntary carbon market more effective, helping funds go toward high quality projects and making it easier for companies to achieve their sustainability goals in a transparent and verifiable way.”
Thallo has three tiers of partners: Founding Partners, Integrity Partners and Innovation Partners.
- Founding Partners, including Ripple, Climate Collective and a number of carbon project developers, are close strategic partners, working with Thallo across the value chain to support the development and execution of the flagship Thallo carbon marketplace. These partners are also critical to enabling Thallo to reach its North Star: providing the best platform for project developers.
- Thallo will continue to grow its listing of Integrity Partners: associations, non-profits and academic institutions with the shared goal of scaling carbon markets with integrity.
- Thallo will also continue building its network of Innovation Partners: cutting-edge companies working on key aspects of the markets, from digital MRV to forward financing to on-the-ground community participation.
“As the demand for carbon credits intensifies, blockchain and crypto technology is uniquely positioned to help support market growth by solving persistent challenges around transparency, traceability and verification,” says Ken Weber, Senior Vice President, Social Impact and Sustainability, Ripple. “In line with Ripple’s commitment to more efficient and scalable carbon markets, the talented team behind Thallo is building a marketplace that will bring more liquidity, greater access to pricing and market data, and an improved certification process to an often opaque, slow and siloed market. By leveraging Ripple’s enterprise readiness and carbon neutral XRPL’s reliability at scale, Thallo is democratizing access to verified carbon credits for both institutional and retail investors to help offset their carbon footprints in a way that satisfies their key stakeholders.”
The voluntary carbon markets reached a market capitalisation of almost $2 billion for the first time in 2021, which is expected to rise to $150 billion over the next eight years. That is largely due to the fact that private companies and organisations small and large have committed to ambitious climate goals, with carbon credits predicted to be in high demand to help achieve them.
The full list of 23 partners includes:
- Celo Foundation
- Ivy Protocol
- Filecoin Green
- Return Protocol
- SolidWorld DAO
- Spirals Protocol
- Sweetgum Labs
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.