XELS launches new blockchain-based platform for transparent, traceable sustainability reporting
The startup seeks to become a one-stop-shop for companies to calculate, offset and openly disclose carbon reduction initiatives.
TOKYO, 8 September 2022 /PRNewswire/ — XELS, a startup leveraging blockchain and other next-generation technologies in an effort to help companies worldwide meet and exceed their environmental sustainability goals, will launch a new platform that takes aim at the opacity of “scope 3” emissions reporting. While most environmentally conscious companies have targeted scope 1 and 2 emissions (direct emissions from their own operations and emissions linked to purchased energy use) in recent years, scope 3 emissions pose a challenge due to the fact that they are generated across an organisation’s value and supply chains (think suppliers, distributors and retailers).
“Although many companies have taken steps to clean up the ‘side of the street’, we see many of them struggling with scope 3 emissions,” says XELS founder and CEO. Takeshi Nojima. “By creating a simple and transparent platform that any organization can easily navigate, we encourage all the moving parts of a product lifecycle to get on board and do their part in reporting climate targets and moving forward with open and honest carbon elimination. .”
The new XELS platform aims to become the “Squarespace of emissions reporting” by making it easy for companies of all sizes to create customizable online reports that both consumers and business partners can view and reference in their quest to achieve net zero. Scheduled to launch later this month, it will offer a CO2 offset education portal, a CO2 emissions calculator, an open place for reporting ESG goals and a transparent offset publishing platform that shows an organization’s carbon credit purchase and retirement history in an immutable public ledger. In addition to the reporting platform, clients will also have access to the latest generation of XELS’ tokenized carbon offset marketplace, where XELS utility tokens can be staked to create custom carbon offset NFTs representing corporate climate disclosures and real carbon offsets.
“We believe that it is important to put the brakes on emissions by decarbonizing, and that projects to absorb, capture and store the huge amount of CO2 that we have already emitted will become increasingly important in the future,” adds Nojima. “The XELS platform will continue to evolve to improve the transparency and reliability of such initiatives.”
XELS partners with leading green technology companies to offer high-quality tokenized carbon offsets linked to protected lands and reforestation efforts in Japan, Australia, and elsewhere. In addition to its proprietary blockchain technology, XELS also uses cutting-edge satellite imagery and artificial intelligence to visualize and quantify actual carbon sequestration.
XELS, founded in 2017, is a member of the Climate Chain Coalition. XELS tokens are already available on Bittrex Global and MXC digital asset exchanges, and will also become tradable on the Gate.io exchange starting at 11:00 JST on 9 September 2022.
Mitch HammerDirector
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SOURCE XELS Limited
