(MENAFN- GlobeNewsWire - Nasdaq) Transparency, trust, digital technology and equitable funding key to unlocking significant market opportunity and addressing multi-trillion dollar annual climate financing gap highlighted by World Economic Forum.
Davos, London & Singapore, Jan. 20, 2025 (GLOBE NEWSWIRE) -- A new survey conducted by ZERO13 , the blockchain powered, award-winning international carbon exchange, registries and services orchestration ecosystem, reveals strong support for transformative reforms in voluntary and compliance carbon markets.
ZERO13, a GMEX Group subsidiary, engaged with a wide range of carbon market stakeholders on a number of key market opportunities and challenges at a time of accelerating climate finance demand, and driven by the overarching imperative to create a sustainable, inclusive and equitable carbon market of high integrity. The survey was conducted following the November 2024 COP29 meeting, which after a decade of negotiations finally ratified Article 6 of the Paris Agreement relating to carbon markets.
Key findings:
Pressing need to increase voluntary carbon market transparency
88% of respondents expressed a pressing need for reduced market fragmentation, improved system interoperability and more equitable funding distribution to improve industry transparency and trust in voluntary carbon markets.
More harmonised regulation for compliance carbon markets
73% of respondents believe compliance carbon markets are ineffectual without stronger, more harmonised regulatory standards and greater service interoperability.
Digital technology as a catalyst for change
The survey indicates strong support for greater system interoperability leveraging blockchain, AI, and IoT as critical tools for ensuring transparent 'source to sale' provenance encompassing credit verification, interoperability, market distribution and equitable benefit distribution.
More equitable and sustainable carbon market
The 2025 World Economic Forum Global Trade Barometer highlights significant opportunities in trade and capital, innovation and technology, as well as climate and natural capital. Meanwhile, global commitments to climate- and resilience-linked finance continue to grow.
ZERO13 is driving the next phase of carbon market innovation by integrating advanced technology and championing reforms to unlock new opportunities for stakeholders. A critical focus is to address funding disparities with respect to climate projects in the Global South and bridging the estimated $4.2 billion annual climate funding gap (World Economic Forum ).
Currently, projects in the Global South represent 30% of the world's carbon mitigation potential yet receive just 5% of global carbon investment , a situation that must be addressed with more equitable funding mechanisms.
"Leading on from the fact that Article 6 of the Paris Agreement relating to carbon markets was agreed at COP29, the future of the global carbon market lies in its ability to transform through wide ranging industry collaboration.” said Hirander Misra, CEO of ZERO13. “By addressing fragmentation, enhancing interoperability to interconnect siloes, harnessing digital technologies, ensuring transparency, and fostering greater stakeholder collaboration, we can build a high integrity carbon market ecosystem that reduces emissions and also supports sustainable economic growth in the regions that need it most."
The survey findings reflect a strong desire for change and collaboration. Alongside this industry survey, ZERO13 collaborated recently on an industry report Transforming Today's Carbon Market for a Sustainable Future that draws on the experience and insights of financial, climate and sustainability experts on transformative processes, practices, technologies and financial innovations.
From 20-24 January, ZERO13 will be in Davos for the World Economic Forum Annual Meeting, and in February 2025 will be hosting a webinar that invites stakeholders to continue the conversation. To arrange a meeting, take part or to attend, please contact ....
About ZERO13
ZERO13 is a cutting-edge carbon market ecosystem powered by blockchain technology. It provides a carbon trading exchange, registry, participants and services orchestration hub, enabling businesses to trade and settle carbon credits efficiently while addressing the current inefficiencies and fragmentation in carbon markets. ZERO13 is designed to foster sustainable practices and help organisations meet their environmental goals through innovative technology solutions.
More background material
Article: Transforming Carbon Markets One Project At A Time
Blog - Unlocking the future of carbon markets
About GMEX Group
GMEX Group offers a range of multi-asset exchange trading, post-trade, and digital technology solutions, designed to support sustainable markets. Through its subsidiaries, including ZERO13, GMEX Group provides hybrid centralised and distributed ledger technology for trading and post-trade services.
Contact
Melanie Budden
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CONTACT: Melanie Budden
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+44 (0)7974937970
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