ClimateSeed will act as a centralised platform where investors and companies looking to invest in voluntary carbon offsetting projects will be able to connect easily to projects carriers looking for funding.
The ClimateSeed platform will reinvest 100% of its profits in its development and initiatives designed to enhance its impact.
Patrick Colle, CEO at BNP Paribas Securities Services, said:
“To this day, there is no centralised, transparent, and efficient platform to buy and sell carbon credits of voluntary offsetting projects. As a result, investors and project carriers struggle to match their needs and many carbon offset projects remain unfunded. We believe that the creation of this centralised platform, underpinned by a solid technology infrastructure, will spur the development of the voluntary offsetting of carbon emissions.”
ClimateSeed will provide a social network facilitating the exchange of information between project carriers and investors. Project carriers will be able to promote their projects on the platform while investors will gain better visibility on the wide variety of sustainable projects on offer.
Participants will be able to buy and sell voluntary carbon credits and manage their investments directly via the ClimateSeed platform. The platform will be underpinned by a solid post-trade infrastructure - built and operated by BNP Paribas Securities Services - to give participants full visibility and traceability on their transactions.
Project carriers selling carbon credits via the platform will be vetted by an ethics board comprising carbon market experts, universities, NGOs, and auditors.
ClimateSeed is due to launch in mid-2018.
To mark the One Planet Summit and in addition to ClimateSeed, BNP Paribas announced two new measures across two businesses in favour of the fight against global warming:
- For investors, BNP Paribas Asset Management is furthering the development of its range of green funds by launching a savings fund that contributes to the financing of European SMEs/Mid-cap companies active in energy transitioni.
- For private individuals, BNP Paribas is offering a loan at 1% for the acquisition of a new vehicle benefitting from an environmental bonus.
Caroline Lumley firstname.lastname@example.org +44 (0)20 7410 4650
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About BNP Paribas Securities Services (www.securities.bnpparibas.com)
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sellside market participants, corporates and issuers. With local expertise in 36 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. Figures at at 30 September 2017: EUR 9.3 trillion in assets under custody, EUR 2.309 billion in assets under administration, 10,166 funds administered and 10,000 employees.
i Investments in the fund are subject to market fluctuations and the risks inherent in investments in securities. The value of the investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial outlay, the funds described being at risk of capital loss.
ii Personal eco-friendly car loan of 1% BNP Paribas:
Fixed APR: 1%
Amount of the loan from 760 euros to 75 000 euros,
Duration of cost spreading from 4 to 108 months,
Subject to the conditions for the granting of the government environmental bonus
“You bear the responsibility of a loan and it has to be reimbursed. Check your repayment capacity before committing to a loan.”