Carbon market and nature-based solutions will be part of the agenda of the COP26

1 to 12 of November is carried out by the United Nations Conference on Climate Change 2021 in Glasgow, Scotland. BIOFIX and EcoRegistry make presence on this stage to talk about the importance of boosting the carbon market and thus achieve the commitments made at the Paris Summit.

 High expectations there are in issue 26 of the United Nations Conference. Countries that pledged in 2015, with the implementation of policies and actions that contribute to the overall goal of not over-the-limit global warming to 2°C, they shall give account in this space about the progress and results obtained.

A key aspect of this event is in the making of binding decisions and substantial around the Art.6 on the part of all nations, and so to realize aspects vital for the implementation of the carbon markets, instruments that play an important role to increase the ambition of the climate. Among others, regulating the accounting frameworks for the transfer of results of mitigation between countries, which would give greater reliability and transparency to the markets under clear rules of additionality and reliability. 

Colombia is one of the countries of the region most involved in this global mission, for it will be the representation of public and private sector to highlight the commitments in the areas of mitigation, in addition to emphasizing its goal of being carbon-neutral by 2050 and to achieve a reduction of emissions of Greenhouse Gases (GHGS) in a 51% to 2030.

BIOFIX, a company expert in the development of nature-based solutions, together with EcoRegistry, registry platform for the carbon market based on technology blockchain, you are a partaker of this meeting in Glasgow to highlight the progress of the colombian market for carbon and its important contribution to the national goal, as well as the huge potential of this market in the market of international volunteers.

“In South america we have all the potential to offer nature-based solutions and to reduce the emissions of CO2, through the protection of forests. I have great expectation in the COP26, because it is ideal to achieve the funding climate that we need if we want to reach out to 2030, meeting the emissions reduction target “says Ana Milena Silver, manager of BIOFIX.

Today, BIOFIX has a 9-REDD projects that provide, in total, the protection of more than 1’300,000 hectares of rain forests and tropical, located in strategic areas with wide biodiversity. These projects, developed in conjunction with communities ethnically differentiated, have managed to positively impact the lives of nearly 40,000 people, through the commercialization of carbon credits. 

For its part, EcoRegistry, a platform created in 2019 thanks to the partnership between XM, a company that operates systems and markets, and develops solutions and services energy, innovative, and Latin Checkout, has recorded more than 25 million tonnes of CO2 captured, through emissions reduction projects as it develops BIOFIX.

“Our work has enabled us to be the national platform with the largest number of projects registered in the colombian market; 64 public projects and 25’732.381 tons of GHG emissions reduced/removed registered”, says Ana Mercedes Restrepo, director of Strategy and Innovation of XM.

Today, the projects registered through EcoRegistry can also access the european market to sell their carbon credits on the voluntary market internationally, thanks to the interoperability with ClimateTrade and Carbon Footprint Italy.

Both EcoRegistry as BIOFIX part of the International Association of Emissions Trading (IETA), the membership global actors of the carbon market, and are associated to Asocarbono, the union that brings together the actors of the carbon market in Colombia. Likewise, EcoRegistry is linked to the Climate Chain Coalition, a global initiative on blockchain and digital solutions for adaptation and mitigation of climate change.

It is expected that the participation of these two companies in the COP26 visibilice the alternatives of financing climate that have been implemented in Colombia and are being scalable to the world, his intervention will take place in the pavilion Colombia, on the 5th day of November, in the panel: “Sharing the Colombian carbon market experience”, together with the Ministry of Environment and Sustainable Development and to Ecopetrol.