In the blockchain market, Climatetrade will create its new CO2 offset platform in Algorand, one of the 50 largest cryptocurrency projects focusing on scalability and performance.

Climatetrade announced on Wednesday that it has chosen the Algorand blockchain to drive the carbon offsets market, which aims to help organizations achieve carbon neutrality, a key element in the fight against climate change.

According to CEO Francisco Benedetto, Climatetrade trusts Algorand for “flexible architecture, low transaction fees and scalable transaction performance.”

Algorand is the 49th largest cryptocurrency project with a total market of around $ 393 million. His ALGO token is currently trading at around $ 0.34.

Climatetrade was founded in 2016 and allows companies to compensate for carbon emissions by buying carbon credits directly from the platform. He also prepares his own sustainability reports, which are becoming increasingly important in a period of social responsibility, or CSR.

Consideration of social responsibility has also become an important driving force behind the so-called investment movement. ESR investment, or strategies that take into account the company’s environmental, social and corporate factors, was previously a niche step in the financial markets. It is now a trillion dollar industry, according to Morningstar.

Net inflows to ESRs exceeded $ 71 billion in the second quarter, mainly driven by interest in sustainable investments.

Climatetrade reportedly earned € 1 million, or $ 1.21 million, from an initial investment in the carbon market. Borderless Capital, which finances “class leaders” with Algorand technology, is a champion.

Source: CoinTelegraph