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Andrew Forrest, a billionaire turned philanthropist who made his fortune in mining and minerals, is turning his vast iron ore extraction operation, Fortescue Metals Group, into a zero carbon business.

Unlike most companies, Fortescue is not seeking net zero greenhouse gas emissions but what Forrest described as “real zero”. To achieve net zero, many companies use carbon credits, awarded for projects such as planting trees or preserving existing forests, to count against their greenhouse gas emissions.

Carbon Credits Platform Raises $2B to Tap ‘Internet of Energy’

Bringing the iron and steel industry to net zero by 2050 requires $1.4 trillion of investment, $250 billion of which is for carbon credits, according to Wood Mackenzie.

Currently, iron and steel production together release a total of 3.4 billion tonnes of carbon each year. This represents 7% of total global emissions.

To meet the global demand for steel by 2050, the industry must produce 2.2 billion tonnes of steel.

The industry emits a lot of carbon and is one of the most difficult one to decarbonize.

Wood Mackenzie analyzed in its latest report, “Pedal to the Metal: Iron and steel’s $1.4 trillion shot at decarbonisation”, the what, when, and how of reaching net zero pathway.

Remarking on the report, lead author Malan Wu said that:

Salesforce aspires to democratize the process of buying carbon credits. With a new platform scheduled to debut next month at netzero.salesforce.com, businesses will be able to buy carbon credits from a trusted partner with a third-party verification.

The Net Zero Marketplace will officially launch in October at the VERGE 22 conference in San Jose, representing 90 projects from project developers Climate Impact Partners, Cloverly, Lune, Pachama, Respira International and South Pole. Calyx Global and Sylvera will provide the third-party ratings using independent verification methodologies. The platform is built on Salesforce's Commerce Cloud, which integrates directly with the Salesforce Net Zero Cloud sustainability management software application. But even businesses that are not customers of Salesforce can purchase credits through the platform, the company said.

Union MoS for Railways Raosaheb Patil Danve announced that Indian Railways has achieved 100% electrification on four of its zones namely — East Coast, South Eastern, Eastern and Central Eastern Railway. This development is in line with the Indian Railways’ aim of becoming the largest Green Railways in the world and further moving towards becoming a “net zero carbon emitter” before 2030. Danve took to Twitter to make the announcement and stated that besides reducing carbon footprints, this will also enable seamless passenger and freight movement.

Hundreds of companies plan to achieve their climate goals using carbon credits to offset the emissions they can’t eliminate on their own. Soon there might not be enough of the credits to go around.

Last year, the India division of the World Resources Institute (WRI), a global research non-profit, designed a mock carbon credit trading marketplace and invited 20 leading listed companies to participate. In three rounds of trading held over a 12-month period, WRI, and its test participants, learnt exactly how not to create a lopsided carbon market.

TOKYO, Sept 22 (Reuters) - Japan started a trial trading of carbon credits on Thursday at the Tokyo Stock Exchange (TSE) as the world's fifth-largest carbon emitter aims to create a nationwide market mechanism to meet its goal of becoming carbon neutral by 2050.

This episode is sponsored by Circle and Near.

A Part 2 climate change edition from Lisbon, Portugal at Nearcon2022.

On this episode of “Money Reimagined,” hosts Michael Casey and Sheila Warren are still together at Nearcon2022 for a second discussion on carbon credits and climate change.

They speak with guests Robert Schmidt, chief operating officer and co-founder of Toucan, and Phil Fogel, chief blockchain officer and co-founder of FlowCarbon.

Business-software provider Salesforce Inc. is launching a marketplace for carbon credits that it says will tackle transparency and quality issues in the fast-growing field.

The San Francisco-based company said Tuesday that its latest platform, called Net Zero Marketplace, is set to go online in October with close to 90 projects selling carbon credits that support programs such as forestry, soil health and renewable-energy in the developing world, among others.

Business-software provider Salesforce Inc. is launching a marketplace for carbon credits that it says will tackle transparency and quality issues in the fast-growing field.

The San Francisco-based company said Tuesday that its latest platform, called Net Zero Marketplace, is set to go online in October with close to 90 projects selling carbon credits that support programs such as forestry, soil health and renewable-energy in the developing world, among others.

Salesforce, the global leader in CRM, introduced Net Zero Marketplace, a trusted platform that makes carbon credit purchases simple and transparent, allowing organizations to accelerate climate-positive impact at scale.

The global voluntary carbon market is estimated to grow to $50B by 2030 as many organizations race to achieve their net zero commitments. Yet, organizations may not always know how to build a carbon credit portfolio — or even where to start. What’s more, the path to purchasing carbon credits is complex, and buyers want to trust that the carbon credit projects have a positive impact.

Net Zero Marketplace, built on Salesforce’s Commerce Cloud, connects buyers and ecopreneurs — environmentally-focused entrepreneurs who lead and drive climate action worldwide — offering a catalog of third-party-rated carbon credits and a seamless eCommerce experience for purchasing them. Net Zero Marketplace also features a climate action hub where anyone — businesses or individuals — can learn about climate issues.

“The uptick in extreme weather events shows that no one is spared from climate change — we need smart climate solutions now,” said Suzanne DiBianca, EVP and Chief Impact Officer, Salesforce. “Businesses aiming to achieve long-term emission reductions can complement their efforts with high-quality carbon credits. Net Zero Marketplace brings together Salesforce’s values, technology, and commitment to ecopreneurs to accelerate climate action. Source excesscomputor

In the UK, carbon credits trading is facilitated by governmental authorities under the Emissions Trading Scheme. However, for the average investor, the more seamless option is to gain exposure to carbon credits via ETFs, stocks, or other accessible trading instruments.

Irrespective of the chosen asset, investors should first have a trading account.

Follow the steps below to learn how to invest in carbon credits in the UK via a regulated broker.

Step 1: Open an account with a regulated broker – The first step is to choose a broker that is regulated by the FCA, the financial watchdog in the UK. Next, visit the broker’s website to open a trading account. For this, investors will need to provide some personal information and complete a quick KYC procedure.

Step 2: Deposit funds – After creating the account, investors will then need to ensure that it is sufficiently funded. Depending on the chosen broker, funding can be facilitated via a bank transfer, credit/debit card, or e-wallet.

Step 3: Choose a carbon credit instrument – Next, search for the specific carbon credit market on the platform. Once the right asset is found, click on it to proceed.

Step 4: Buy carbon credits in the UK – Finally, place an order to ‘buy’ the chosen carbon credits instrument. Investors will have to specify the amount they wish to invest in the chosen asset.

After confirming the order, the broker will carry out the trade on the investor’s behalf. The value of the carbon credits investment can be monitored via the brokerage account portfolio.