( MENAFN - GlobeNewsWire - Nasdaq S)ydney, Australia, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Eddie Listorti , ANZ's former global head of fixed income, is making headway with his new company, Viridios Capital, as chief executive officer and co-founder. Founded in Sydney, Australia, Viridios Capital is a fintech developer and asset manager in the carbon markets. The company is focused on ensuring capital delivered to sustainable developments is fair compensation. Making leaps and bounds in only two short years, Viridios Capital is at the frontlines of new AI innovation.
S & P Global Platts recently announced that it had signed an MOU, or memorandum of understanding, with Viridios Capital to elevate transparency in the voluntary carbon credits and co-benefit markets by initiating a series of AI, or artificial intelligence, driven carbon indices. This launch will be the first AI-based carbon market indices. S & P Global Platts is the leading independent provider of information and benchmark prices for the commodities and energy markets.
The head of price group at S & P Global Platts, Jonty Rushforth, said, 'The complex voluntary carbon markets are evolving at a rapid rate. Combining Platts robust and trusted price assessment data insight alongside Viridios Capital's proven environmental AI technology will provide market participants with greater transparency into the market value of voluntary carbon credits and their associated co-benefits.'
The terms attached to carbon credits giving proof of meeting the 17 Sustainable Development Goals, or SDGs, established in 2015 by the United National General Assembly are co-benefits. The SDGs include biodiversity, quality education, and clean water. SDGs, project technology, and geography are some of the more significant factors that propose obstacles in figuring out the value of carbon credits. This collaborating team's ultimate goal is to increase clarity and transparency into voluntary carbon credits and co-benefits.
Pricing transparency has not quite found its place with carbon markets, and these markets have not yet successfully modernized to traditional commodities. Viridios Capital think that with the carbon trading market expecting to hit $50 billion each year by 2030, now is the appropriate time to address carbon market pricing clarity.
'We are delighted to be collaborating with and have gained the trust of such a highly respected organization as S & P Global Platts, which is renowned for professionalism and unbiased perspective in their market-leading publications. We are confident that the outcome will be to greatly assist companies to invest more in mitigating their environmental and social footprint while facilitating the flow of capital into urgent climate and sustainability initiatives,' said Eddie Listorti .
About Eddie Listorti
Eddie Listorti is the Founding Partner and CEO of Viridios Capital and director of Jufran Investments. He has a proven track record with 30 years in business and banking. His experience includes managing teams of over 2,000 people and annual revenues exceeding AUD 2 billion. Mr. Listorti has held board positions in industry bodies and joint venture partnerships.
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