Salesforce announced a marketplace for carbon credits. The upcoming Net Zero Marketplace helps buyers find reliable vendors.
European organizations are required to limit their emissions. Companies can comply in several ways. Some start their own initiatives by, for instance, investing in renewable energy for production processes. That path is not for everyone, as some companies have to pollute to stay afloat. ‘Carbon credits’ offer a solution.
Carbon credits are a currency for emission rights. Organizations can generate carbon credits by initiating CO2-reducing projects. Organizations that emit too much CO2 can buy carbon credits. The buyer essentially purchases the right to pollute. The transaction is a form of compensation, as the buyer’s investment enables the seller to reduce more CO2.
Researchers from McKinsley predict the market will be worth €50 billion by 2030. Carbon credit trading is growing at lightning speed, but the process can be complex. Buyers and sellers must meet standards set by governments and international coalitions. Salesforce wants to simplify the process. Hence, the organization announced Net Zero Marketplace, a platform for carbon credit trade.
Net Zero Marketplace
The platform will be a marketplace, accessible to both sellers and buyers. Buyers receive an overview of trusted providers, available carbon credits and a payment system for purchases. Sellers get the opportunity to reach new customers.
The platform will be available in the United States starting in October 2022. Salesforce shared the news at Dreamforce, an annual conference. The organization confirmed that the solution will expand to new markets in 2023, though release dates were not disclosed.
Launch and Net Zero Cloud
“Finding and verifying a carbon credit’s quality can be difficult and time-consuming”, Salesforce said. “Net Zero Marketplace eliminates the uncertainty by aggregating and publishing third-party ratings for projects not locked behind paywalls or account registrations.”
Buyers can display project ratings in an organized overview. Users don’t need a paid license or account to look around. “This level of transparency helps empower organizations to determine which carbon credits are best for them”, Salesforce added.
The first version of Net Zero Marketplace provides access to the carbon credits of more than 70 projects in 11 countries worldwide. Net Zero Marketplace integrates with Net Zero Cloud, an existing Salesforce solution for tracking carbon emissions and carbon offsets.