Xarbon digitizes Carbon Assets through the NEM Blockchain
Xarbon Sustainability Limited (referred to as “XSL”) is a sustainability technology company that is registered in Hong Kong and is governed by the laws of Hong Kong. Xarbon has reduced about 200 million tons of carbon from the atmosphere and has protected over 500 thousand hectares of rainforest. For more info about what they do, visit their website at http://xarbon.com/
Currently, most of their work as a sustainability company is protecting various areas of the Papua New Guinea rainforest from any form of degradation. Because these rainforests are like carbon sinks, which is a natural reservoir that accumulates and stores carbon-containing chemical compounds, Xarbon was able to obtain significant amount of carbon assets.
Instead of selling these assets directly to institutional polluters or buyers in the market, they hold them in the company’s reserves. The rationale behind this is to digitize these assets into the NEM blockchain to increases the transparency, efficiency, and liquidity of carbon markets.