Tamuwa's CYNK Platform and Tolam Earth Announce New Marketplace Collaboration for Digital Environmental Assets
Tolam Earth and Tamuwa announced a collaboration on Africa's first verifiable emission reduction platform, the CYNK Platform, which will use a public decentralised ledger technology (DLT) for carbon offsets to allow local communities in emerging markets to benefit from their climate action initiatives.
There has never been a time when it was more important to have a trustworthy, efficient, and open platform for buying and selling carbon offsets on a large scale, nor has the technology been there to really make a difference.
Tolam, a recognised marketplace for high-impact carbon offsets, was launched earlier this month to assist corporations in meeting their ESG or sustainability goals. The marketplace enables the purchase and sale of carbon offsets to give monetary value in addition to social and governance benefits. Tolam's price discovery and auto-purchasing technologies give all market participants access to the best prices and liquidity.
Using the Hedera Hashgraph, the world's most popular enterprise-grade public network, and trade tokens made by Kenya's largest biomass company, Tamuwa, the CYNK Platform is trying to build a bridge from the global south to the global north to speed up environmental and social impact exponentially. CYNK will start trading its first tokens this quarter.
The MOU between Tamuwa and Tolam will allow them to build a fully customised marketplace for the CYNK Platform, white-label it and make it work in the developing world, and build APIs to connect the two.
“Purchasers will have access to more options, affordable pricing and a high-quality supply of offsets to choose from. Our DLT marketplace ensures security and transparency, disrupting the opaque status quo of current market offerings,” said Tolam CEO Matthew Porter. “We could not be more excited to partner with Tamuwa on the CYNK Platform.”
In Africa, CYNK has carbon offset projects in four areas: renewable biomass, nature-based solutions, blue carbon, and regenerative agriculture.
“Our digital end-to-end platform for measurement, reporting, verification, and trading of high-quality voluntary emissions reductions (VERs) is built from the ground up,” said Tamu Group Director Nils Razmilovic. "This partnership with Tolam puts us both on the path to success as companies measure and report more on the impact of their investments in sustainability."
Source: Tolam Earth