Energy and commodities markets information, benchmark and analytics provider S&P Global Platts, and fintech developer Viridios Capital announced today a new agreement to launch a series of Artificial Intelligence (AI)-driven carbon indices, aimed at enhancing transparency into the complex voluntary carbon credits and co-benefit markets.
Carbon credits are generated by specific projects that avoid, reduce or remove GHG emissions, ranging from renewable energy projects to deforestation-related initiatives. Projects are verified and validated by a set of independent standards created by coalitions of NGOs and market participants. The voluntary carbon markets are increasingly used by investors and corporations as a tool for financing the reduction of emissions. Co-benefits are terms attached to carbon credits providing evidence of meeting the 17 UN Sustainable Development Goals (SDGs).
According to the companies, the new indices will leverage Viridios’ environmentalEnvironmental criteria consider how a company performs as a steward of nature. AI expertise, while also including daily inputs from a range of Platts price assessment data to produce evaluations for sets of credits with specified co-benefits including project types, vintages, locations and standards.
Jonty Rushforth, Head of Price Group, S&P Global Platts said:
“The complex voluntary carbon markets are evolving at a rapid rate. Combining Platts robust and trusted price assessment data insight alongside Viridios Capital’s proven environmentalEnvironmental criteria consider how a company performs as a steward of nature. AI technology will provide market participants with greater transparency into the market value of voluntary carbon credits and their associated co-benefits.”
Eddie Listorti, CEO and co-founder of Viridios Capital said:
“We are proud to partner with S&P Global Platts in bringing pricing transparency to the voluntary carbon markets through our AI technology. We are confident that the outcome will be to greatly assist companies to invest more in mitigating their environmentalEnvironmental criteria consider how a company performs as a steward of nature. and socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. footprint while facilitating the flow of capital into urgent climate and sustainability initiatives.”
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