November 16, 2022 – Sharm El-Sheikh, Egypt —
Today at the 27th Conference of the Parties (COP27), Tolam Earth and Tamuwa announced that they will collaborate on Africa’s first verifiable emission reductions platform, the CYNK Platform, using a public decentralized ledger technology (DLT) for carbon offsets to enable local communities in emerging markets to benefit from their climate action initiatives.
Demand for a credible, efficient and transparent platform for buying and selling carbon offsets at scale has never been higher, nor has the right technology been available to truly move the needle.
Tolam was launched earlier this month as the trusted marketplace for high-impact carbon offsets to help organizations reach their ESG or sustainability goals. The marketplace empowers the buying and selling of carbon offsets to provide financial value in addition to social impact and governance benefits. With the price discovery and auto-purchasing mechanisms of Tolam, optimal liquidity and pricing is available to all market participants.
Using the Hedera Hashgraph, the world’s most used enterprise-grade public network, and trade tokens generated by Kenya’s largest biomass company, Tamuwa, the CYNK Platform is on a mission to build a bridge from the global south to the global north to accelerate environmental and social impact exponentially. CYNK will start trading its first tokens this quarter.
The MOU between Tamuwa and Tolam will allow for the build of a full custom marketplace for the CYNK Platform, white-labeling and customizing it for use in the developing world, and the creation of APIs to link the two together.
“Purchasers will have access to more options, affordable pricing and a high-quality supply of offsets to choose from. Our DLT marketplace ensures security and transparency, disrupting the opaque status-quo of current market offerings,” said Tolam CEO Matthew Porter. “We could not be more excited to partner with Tamuwa on the CYNK Platform.”
CYNK boasts carbon offset projects in Africa across four areas: renewable biomass, nature based solutions, blue carbon, and regenerative agriculture.
“Our digital end-to-end platform for measurement, reporting, verification and trading of high-quality voluntary emissions reductions (VERs) is built from the ground up,” said Tamu Group Director Nils Razmilovic. “As corporations increasingly quantify and report the impact of their sustainability investments, this partnership with Tolam puts us jointly on the path for success.”
The hosting of COP27 in Sharm El-Sheikh marks the 30th anniversary of the adoption of the United Nations Framework Convention on Climate Change. The world has come a long way with technology and tools in the fight against climate change — and Tamuwa and Tolam are proud to be joining forces in a sustainable future built on trust.
About Tolam Earth:
Tolam Earth is a digital marketplace to identify, price, buy, and sell carbon assets. All data in the ecosystem is transparent, digitally sourced, and auditable. With the price discovery and auto-purchasing mechanisms of Tolam, we drive optimal liquidity and pricing to all market participants. Tolam leverages the Hedera Hashgraph, the most used enterprise-grade public network, for corporations to quantify and report the impact of their sustainability investments.
About CYNK:
CYNK is a digital end-to-end platform for the measurement, reporting, verification and trading of high-quality voluntary emissions reductions (VERs), built on carbon negative Hedera Distributed Ledger Technology (DLT). CYNK was founded to bridge the financing gap in the Global South by providing trust, transparency and connectivity to climate markets.
About Hedera:
Hedera is the most used enterprise-grade public network for you to make your digital world exactly as it should be – yours. HBAR is the native, energy-efficient cryptocurrency of Hedera that powers the decentralized economy. Whether you’re a startup or enterprise, a creator or consumer, Hedera goes beyond blockchain for developers to create the next era of fast, fair, and secure applications.
