We are pleased to announce that Bridge ME will operate an EcoConsortium Digital Carbon Management Platform in China, including Hong Kong SAR, under licence from Verdana.
“Carbon credits from China-based carbon projects made up almost 21% of the volume in the global Voluntary Carbon Market (VCM) in 2023”, said Patrick Tsang, founder of Bridge ME and Chairman of Tsangs Group family office. “The plan is to make it convenient for China projects to connect to the VCM ecosystem through our platform. We chose to set up EcoConsortium Hong Kong because of Verdana’s well-known ability to hold a client’s hand through the carbon credit validation and verification process.” Patrick also went on to thank The Honourable Jeffrey Lam, GBM, GBS, JP, Member of the Executive Council and Legislative Council of Hong Kong SAR Government, who is a founder of Bridge ME and was pivotal in bringing Verdana and Bridge ME together during COP28 in Dubai in December 2023.
When asked about the launch, Jeffrey Lam said, “There is no better place than Hong Kong, for China carbon projects to meet up with offset buyers. I would also like to see the right incentives and digital guardrails in place for EcoConsortium Hong Kong to funnel these carbon transactions to Hong Kong through Hong Kong’s Core Climate Exchange.”
Verdana International Limited owns the EcoConsortium brand name and is not only a provider of end-to-end UNFCCC CDM compliant digital guardrails for large urban emissions reduction projects, but also manages carbon projects across ten million hectares of agricultural land in Indonesia.
“We are now entrenched in both urban and nature-based solutions,” said Asad Sultan, CEO of Verdana, “and this expertise is available in China through EcoConsortium Hong Kong.” Asad went on to explain that Verdana is currently working with the World Bank to provide digital Validation & Verification for their Low Carbon City Project in Ho Chi Minh City in Vietnam. “We plan to deploy the same technology in the Greater Bay Area in China,” he said. “Once a large, urban or nature based, aggregated emissions reduction project connects to our platform, all its information is digitally available to carbon credit standard bodies and their validation and verification bodies in a UNFCCC CDM compliant manner.”
Determined to make Hong Kong a carbon entrepôt, Jeffrey Lam is also coordinating the setting up of an ICROA & CORSIA approved, non-profit VCM standard body in Hong Kong. Making his point, he said, “Joint branding between China’s voluntary CCER carbon credits and a reputable China-centric VCM standard body based here, may well be the most practical way to loop in China including the Hong Kong SAR and its Core Climate Exchange into the VCM transactions that currently conduct through overseas.”
About Verdana
Verdana is today’s only provider of digital UNFCCC CDM compliant methodologies for the issuance of carbon credits by VCM standards bodies. Expert in large scale digital aggregation of carbon credits for urban and agricultural holdings, Verdana deployments bring economies of scale to carbon projects making them that much more viable. Verdana’s digital guardrails are used by clients to enhance the value of their carbon credits. This client list includes the World Bank, oil & gas companies in the USA and Canada, a large global HVAC emission reducing refrigerant manufacturer & green hydrogen provider, as well as the Induk KUD agricultural cooperative in Indonesia with land holdings across 12 million members. The sustainable produce from Verdana’s Induk KUD emissions reduction projects will contribute towards providing a daily hot meal for Indonesian school children as mandated by the President-elect Mr. Prabowo Subianto of Indonesia, making 80 million school children the co-beneficiaries to.
For more information, please visit https://verdana.io/
About Bridge ME Limited
Bridge ME helps businesses confidently enter the fast-growing Middle East market. Their experts provide tailored strategies to navigate the complex business landscape and tap into the region’s many opportunities.
For more information, please visit: https://bridgeme.co/
About Tsangs Group
Tsangs Group is an innovation-focused global family office that bridges East and West. Our mission is to invest in global opportunities that allow us to exert positive influence and drive positive impact in Hong Kong, Asia and beyond.
Headquartered in Hong Kong, Tsangs Group has direct investments across the world, we seek out positive impact investments that reflect our values of innovation, sustainability, and togetherness. Our strategy is opportunistic and both sector and location agnostic.
From fintech to entertainment to space travel, we are always investigating, analysing, and supporting the cutting edge of global innovation and development.
For further information:
Tsangs Group
Andre Kwok
andre.kwok@tsangsgroup.co
Selena Sandhu
selena.sandhu@tsangsgroup.co
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