Australian blockchain platform BetaCarbon is poised to capitalize on the rapidly growing Australian carbon market
Aussie fintech BetaCarbon this week launched its blockchain-enabled carbon trading platform, giving retail investors easy access to investing in a potentially booming Australian carbon market.
The Sydney-based firm was founded last year with the aim of democratizing access to Australian carbon investment – essentially allowing individual and small business investors to participate.
Previously, private investors have not been able to invest directly in Australian carbon credits. However, BetaCarbon purchases government-regulated Australian Carbon Credit Units (ACCUs) with its own funds and then stores them in tokenized the form of the newly “Merged”, energy-efficient proof-of-stake Ethereum blockchain, giving investors exposure in the blockchain/crypto sense.
The investable ERC20 unit is called the Australian Carbon Token (BCAU) and investors can get involved with as little as $1. One BCAU token represents 1 kg of CO2 emissions captured or avoided.
BetaCarbon’s platform is now live!
BetaCarbon then purchases and tokenizes Australian Carbon Credit Units (ACCUs) allowing consumers to invest in Australian Carbon Tokens (BCAU) from $1.start investing at https://t.co/lkkApuN2yH#investment #carbon #betacarbon pic.twitter.com/j2b1SQdbF8
— BetaCarbon (@betacarbonau) 24 October 2022
Given the Albanian government’s increased emissions reduction targets (43% reduction from 2005 levels by 2030, and “net zero” by 2050), along with building awareness among industries always conscious of brand perception, the climate seems just right for BetaCarbon.
And according to information provided to Stockhead from the innovative fintech, demand for carbon credits is growing rapidly in Australia, while more than half (54) of ASX 100 companies have pledged to become net zero by 2030.
In addition, Q1 2022 saw a 62% year-on-year increase in voluntarily “cancelled” Australian carbon credits, which is the process by which the buyer of a carbon credit claims it as an offset, so it cannot be resold.
The Peniup Reforestation project is one of 38 carbon offset projects that BetaCarbon supports. Through this project, 3.8 million trees have been planted since 2007 on 2,500 hectares of former farmland in south-western Australia. Learn more at https://t.co/Yx0aMYHMen#carboncredit #farm pic.twitter.com/f9oRxGhY9j
— BetaCarbon (@betacarbonau) 20 October 2022
Strong supporters, strong demand
“The Australian carbon market is maturing rapidly as both the federal government and the corporate sector increase their commitments to decarbonisation,” noted BetaCarbon CEO and founder Guy Dickinson.
“The price of Australian carbon credits has risen significantly in recent years as more companies voluntarily seek carbon offsets to reduce their emissions,” he continued. “But still ACCU is priced today at just a fraction of its EU and New Zealand equivalent.”
And BetaCarbon tells us that it has now already sold more than $4 million worth of tokens in its pre-launch phase, representing 93 million kilograms of captured carbon.
Last year, the Australian blockchain company attracted $3 million in seed funding from several high-profile funds, including Tribeca Investment Partners, Twynam Investments and Tectonic Investment Management.
The firm’s advisers, meanwhile, include former ASIC deputy chief Daniel Crennan, who had this to say about fintech:
“BetaCarbon proactively consulted with relevant regulators early on and I am confident that its considered approach to the complex and dynamic regulatory framework in which it operates will stand it in good stead.”
“As the demand for Australian Carbon Tokens increases, so will the demand for Australian Carbon Credits, as BetaCarbon purchases ACCUs to mint new tokens,” Dickinson said, concluding:
“The more demand for carbon credits, the higher the need for new green projects for companies to compensate.”
BetaCarbon is proud to have won Best Investment Innovation at the Finder Innovation Awards.
#performance #carboncredits #carbonmarkets #finds #Australia #bcau #carbon #climate #discharge pic.twitter.com/rwpO7FT5K9— BetaCarbon (@betacarbonau) 21 October 2022
Last week, BetaCarbon won Best Investment Innovation at the Finder Innovation Awards, following winners in the Green Innovation and Green Rising Star categories at the Finder Green Awards earlier this year, and the People’s Choice Award for New Fintech Organization at FinTech Australia’s Finnie Awards.
BetaCarbon is not a Stockhead advertiser at the time of publication. This article does not constitute advice on financial products. You should consider obtaining independent advice before making any financial decisions.
