Startup seeks to become one-stop-shop for companies to calculate, offset, and transparently disclose carbon reduction initiatives.
XELS, a startup leveraging blockchain and other next-generation technologies in an effort to help companies across the globe meet and exceed their environmental sustainability goals, will launch a new platform that takes aim at the opaqueness in “scope 3” emissions reporting. While most eco-conscious companies have taken aim at scope 1 and 2 emissions (direct emissions from their own operations and emissions tied to purchased energy usage) in recent years, scope 3 emissions pose a challenge due to being generated across an organization’s value and supply chains (think suppliers, distributors, and retailers).
“While many companies have taken steps to clean up ‘their side of the street,’ we see a lot of them struggling with scope 3 emissions,” says XELS founder and CEO Takeshi Nojima. “By creating a simple and transparent platform that any organization can easily navigate, we’re incentivizing all the moving parts in a product lifecycle to get on board and do their part when it comes to reporting climate goals and moving forward with open and honest carbon elimination.”
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The new XELS platform aims to become the “Squarespace of emissions reporting” by making it easy for companies of all sizes to create customizable online reports that both consumers and business partners can view and reference in their quest for achieving net zero. Slated to launch later this month, it will offer a carbon offset education portal, a CO2 emissions calculator, an open venue for reporting ESG targets, and a transparent offset publishing platform that shows an organization’s carbon credit purchase and retirement history on an immutable public ledger. In addition to the reporting platform, clients will also have access to the latest generation of XELS’ tokenized carbon offset marketplace, where XELS utility tokens can be staked to mint custom carbon offset NFTs that represent corporate climate disclosures and real-world carbon offsets.
“We believe that it’s important to put the brakes on emissions by decarbonizing, and that projects to absorb, capture, and store the huge amount of CO2 that we’ve already emitted will become increasingly important in the future,” Nojima adds. “The XELS platform will continue to evolve to improve the transparency and reliability of such initiatives.”
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XELS partners with leading companies in the green technology space to offer high-quality tokenized carbon offsets tied to protected lands and reforestation efforts in Japan, Australia, and elsewhere. In addition to its proprietary blockchain technology, XELS also utilizes cutting-edge satellite imagery and artificial intelligence to visualize and quantify actual carbon sequestration.
XELS, founded in 2017, is a member of the Climate Chain Coalition. XELS tokens can already be obtained on the Bittrex Global and MXC digital asset exchanges, and will also become tradeable on the Gate.io exchange starting at 11:00 AM JST on September 9, 2022.