Senken democratizes the market for carbon credits, bringing the global climate economy on-chain

  • World’s first open web3 carbon credit marketplace launches
  • Voluntary carbon offsetting made as easy as ordering from Amazon
  • Web3 infrastructure enables traceability and verifiability of carbon credits

FRANKFURT, Germany, Sept. 15, 2022 /PRNewswire/ — It’s all about shaking up the status quo: To date, the voluntary carbon market is anything but transparent and structured. Nevertheless, many companies that have voluntarily committed to climate targets consider investments in offset projects an essential part of their decarbonization strategies. As a result, demand for certificates is increasing, which is leading to a rise in prices. At the same time, global standards are evolving to define appropriate quality levels for carbon credits and carbon offsetting. To help navigate this challenging market, Senken has developed an easy-to-use trading platform where anyone can compare, buy, trade, and retire carbon credits in a straightforward, climate-smart way.

Coordinating the Voluntary Carbon Market and its emerging players

“We see ourselves as a market orchestrator,” says René Schäfer, founder of Senken. On senken.io, companies and investors can buy and trade tokenized carbon credits from climate projects in a transparent and traceable way. The certificates are stored in a distributed database in a decentralized and immutable manner. They contain all necessary and available information along the climate project value chain—from information that determines project quality and performance, to information on co-benefits (for example, information on Sustainable Development Goals), trade and market data, and additional information such as ratings. 

“We offer about 20 million certificates. Another 18 million credits are currently being onboarded,” explains Adrian Wons, founder of Senken. To this end, the company partners with leading regenerative finance and tech startups such as Toucan Protocol, Flowcarbon, Celo, and Polygon, but also with carbon rating agencies such as BeZero Carbon and project developers like Allcot,  who are all tackling the lack of transparency and quality by leveraging new standards and technological breakthroughs like blockchain or sensor data.

Senken’s mission is to solve the credibility and transparency problem of the voluntary carbon market

“We believe that the Voluntary Carbon Market is a meaningful and effective mechanism in the fight against climate change. We want to give it a new digital guise and help companies and investors to participate in the market in a qualitative and trustworthy way. At the same time, this allows the market to grow quickly and sustainably,” says Schäfer.

Founder Adrian Wons built up the blockchain unit at Ernst & Young (EY) Germany and led the department for two years. He has a background in Mechanical Engineering and wrote two books about blockchain technology for SpringerGabler. René Schäfer was previously responsible for digital platform business models and digital strategies at hy – the Axel Springer Consulting Group. He advised over 50 clients in the areas of marketplaces and digital transformation. Djamel Mekibes held various European management roles for TJX Europe and led international teams, most recently as Head of Central Operations Germany TK Maxx.

About Senken
Senken has built the world’s first climate finance platform for the trade of on-chain carbon credits. The goal: to democratize purchases, sales, and retirements of carbon credits which were previously only available to privileged investors or over-the-counter insiders. The Senken Marketplace enables transparent investments in tokenized carbon credits from verified climate projects. The projects underlying the credits can be effortlessly queried and compared. The corresponding project credits can be bought, traded, and used to offset carbon emissions. Credibility and trust are guaranteed by a decentralized on-chain infrastructure that stores all accruing information along the value chain of climate projects. Senken was founded in 2022 by Adrian Wons and René Schäfer, co-founder is Djamel Mekibes. https://senken.io/

Press Contact:
Kirsten Hedinger, Hedinger Communications GmbH
+49 40/421011-12, E-Mail: [email protected]

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SOURCE Senken

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