The digital solution sees a company in the city-state calculating emissions footprints and then picking VCCs from the US-based bank’s portfolio of projects.
US-based major bank Citi will cooperate with Universe, a decarbonization tech player based in Singapore, to help companies and organizations «seamlessly» purchase Voluntary Carbon Credits (VCCs).
In a joint announcement published on Monday, the two indicated that the users will use the Univers platform to calculate the exact level of their carbon emissions.
Smaller Footprint
After that, they can pick from Citi’s VCC projects as a way of offsetting their footprint.
The companies indicated that CleanTech manufacturing was the first company to use the solution to purchase VCCs.
Vietnam Cooking Stoves
It offset a portion of its 2023 and expected 2024 emissions by purchasing VCCs related to a project in Citi’s platform that is aimed at providing 850,000 cooking stoves in rural Vietnam for free.
The announcement indicates that Univers currently supports over 800 customers in 45 countries.
