Place/Date: Hong Kong - October 29th, 2021 at 8:48 am UTC · 3 min read
Contact: Amber Group, Source: Amber Group
Amber Group, a leading crypto trading and technology firm, announced today a strategic partnership with the climate tech company Moss Earth, the first and largest environmental platform in the world to tokenize carbon credits. As per the agreement, Amber Group bought 250,000 carbon tons offsets’ worth of MCO2 tokens, approximately enough to offset the cost of more than 280,000 BTC transactions.
Michael Wu, Founder and CEO of Amber Group, remarked:
“Climate change is the central issue of our times. Joining forces with Moss Earth will constitute a major pillar of our carbon neutral business impact ambition and a path towards a long term carbon-negative pledge which we will be announcing soon. We will be working towards offsetting our carbon footprint, toward providing options for our users to act upon this commitment and eventually acting to remove carbon emitted since Amber Group commenced activities in 2017.”
As a crucial step towards fulfilling this pledge, Amber Group is therefore announcing its initiative to offer carbon offsetting options to its users, through which everyone will have the opportunity to offset the carbon footprint associated with their transactions by purchasing MOC2 Tokens, Moss’s tokenized carbon offsets.
Launched by Moss in March 2020, MCO2 is equivalent to one carbon credit, a digital asset that certifies the prevention of one ton of carbon dioxide from being emitted into the atmosphere. Through the certification process and the minting of MCO2 tokens, funds are sent to conservation projects in the Amazon. Luis Adaime, Founder and CEO of Moss, says:
“We are very excited that such a reputable fintech unicorn such as Amber Group has embraced the battle against climate change – and honored that Amber Group chose to do it via endorsement of the MCO2. We believe that adding liquidity to this transparent way of offsetting carbon emissions is key for it to become easy and for us to add the habit to our daily routine.”
Michael Wu added:
”The world confronts a major emergency. Businesses have to take responsibility and assist their stakeholders in contributing towards humanity’s common goals. As a rapidly growing global fintech unicorn, it is our obligation to take a leading role in combating climate change and empower our users to contribute towards these lofty, yet non-negotiable aims.”
Amber Group is one of the world’s leading crypto finance service providers, operating globally with twelve offices on three continents. To date, Amber Group has raised a total of $128 million in funding from the world’s best investors including Tiger Global Management, DCM Ventures, Paradigm, Pantera Capital, Coinbase Ventures, Blockchain.com, Polychain Capital, Dragonfly Capital, and Fenbushi Capital.
Moss is a climate tech company focused on environmental services with global operations. In 2020, it created the first carbon credit-backed token used to offset greenhouse gases. In its one year of existence, Moss and its customers have sent more than US$ 15 million to the Amazon, which has helped to preserve approximately 500 million trees. The MCO2 token is already listed on platforms such as Mercado Bitcoin and FlowBTC as well as globally on ProBit, Uniswap and Gemini. A carbon credit is a digital certificate that is equivalent to avoiding the emission of one ton of CO2 in a given year through forest conservation, clean energy, and biomass projects, among others.