~ Utilization of unique blockchain technology to revitalize the carbon credit market ~
December 16, 2022, 3:00 p.m.
Jasmy Incorporated (Headquarters: Minato-ku, Tokyo; President: Kazumasa Sato) announces its participation in the Natural Capital Credit Consortium (hereinafter NCCC) upon the founding of NCCC by Natural Capital, a general incorporated association (Location: Fukuoka City, Fukuoka Prefecture; Representative Director: Shunsuke Managi). Jasmy Incorporated also started initiatives to utilize its unique blockchain technology to create voluntary carbon credits and activate the market.
At the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), the participant countries discussed specific plans to achieve the 1.5°C target set in the Paris Agreement. The importance of addressing climate change is increasing every day. In the midst of it, the Brazilian government introduced, at the opening event of the COP27 Brazil Pavilion, a carbon credit purchase program that began trial operation in May 2022, as a concrete initiative toward decarbonization. The importance of carbon credits was reaffirmed worldwide at COP27.
The carbon credit market in Japan is starting to revitalize as the number of issued carbon credits is soaring year by year, and the Ministry of the Environment set forth guidelines for decarbonization trading in October 2021. Especially voluntary credits are attracting increasing attention in Japan since this credit can be issued in a short period. NCCC will create voluntary carbon credits using local Japanese advantages such as forests and agricultural lands. In addition, by utilizing ICT in calculating CO2 absorption, we aim to improve the efficiency of the certification process, shorten the time required to issue the credits, and lower the price of the credits. The increase in abandoned farmland and poorly managed forests in Japan due to the lack of subsequent owners caused by its population aging and declining birthrate is a social issue for local Japanese communities to prevent disasters and conserve biodiversity.
Jasmy Incorporated strongly supports NCCC’s initiatives to create carbon credits and revitalize the market. We will contribute to realizing a carbon-neutral and decarbonized society by providing various technologies such as token issuance and unique blockchain technologies.
About Jasmy Incorporated
Jasmy Incorporated is a developer and provider of an IoT platform. When everything is connected to the Internet, “clothing, food, housing, and mobility,” closely linked to people’s lives, will change dramatically. Jasmy’s mission is to create and provide a system (platform) that allows anyone to use things easily, safely, and with peace of mind. Nowadays, essential data generated from people’s daily lives are more likely to be occupied by only a limited number of companies. One of the goals of the JASMY platform is to bring back data ownership to its rightful users and to ensure the safe and secure use of individual data. In pursuit of this goal, Jasmy will integrate IoT with blockchain technology to develop a platform widely used across industries and business sectors based on unprecedented ideas.
Jasmy’s team comprises members with diverse and profound experiences in electronics, mechanics, communications, devices, system integration, design, and more. It provides an ideal IoT platform for each of our customers worldwide.
Jasmy Incorporated Official Website:https://www.jasmy.co.jp/
About the Natural Capital Credit Consortium
Natural Capital, a general incorporated association, aims to achieve sustainable economic growth and social affluence by creating voluntary carbon credits using Japanese natural capital, such as forests and farmland, in cooperation with the relevant industries. We also aim to achieve this goal by building an Asia-Pacific version of a carbon credit market. The organization is engaged in the following activities.
1. Creating voluntary credits and revitalizing the market
2. Advancing the implementation of tools and technologies contributing to faster and more efficient credit creation
3. Resolving issues local agriculture, forestry, and other sectors are facing
■List of consortium members (as of December 14, 2022)
*In alphabetical order
Announced Information on Consortium Establishment: http://www.natural-capital.jp/PressRelease_20221215.pdf
NCCC Official Website: http://www.natural-capital.jp