The Carbon Market Institute (CMI) hosted the 9th annual Emissions Reduction Summit in Sydney in October bringing together a range of national and international business leaders and professionals with an interest in carbon markets.
Speaking on a panel on Smart Technologies & Digital Tools for Decarbonisation, Viridios AI’s Head of Partnerships, Andrew Glass, discussed the role platforms like VAI are playing in improving transparency and liquidity in the carbon market.
“As the world continues its push to decarbonise, platforms such as VAI are critical in improving transparency around carbon credit prices and project information,” said Glass.
A recent study on California’s carbon offsets program found that almost 30% of credits under its cap-and-trade program were over-credited.
“It is clear information gaps and project asymmetry has added to a lack of trust as credits can vary drastically, making it hard to compare their impact on the environment and compare pricing,” Glass said.
“Through VAI we’re providing market participants with access to information on thousands of carbon credit projects on one platform, making it easier to make informed decisions across the carbon market.”
Viridios AI models are trained on high quality over-the-counter (OTC) carbon market transactions allowing them to learn the complexities and variations between projects, and providing transparent valuations for a large range of carbon credits. It also provides subscribers with price carbon credits based on their insurance, Standard, geography and sustainable development goals (SDGs).
“There is no doubt that the use of smart technologies such as VAI will help scale the carbon market and support the world’s push to decarbonise,” said Glass.