{"id":124929,"date":"2020-12-03T00:45:00","date_gmt":"2020-12-02T21:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/million-dollar-startup-taps-algorand-to-fight-climate-change\/"},"modified":"2020-12-03T00:45:00","modified_gmt":"2020-12-02T21:45:00","slug":"million-dollar-startup-taps-algorand-to-fight-climate-change","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/million-dollar-startup-taps-algorand-to-fight-climate-change\/","title":{"rendered":"# Million-dollar startup taps Algorand to fight climate change"},"content":{"rendered":"

“# Million-dollar startup taps Algorand to fight climate change <\/strong>”
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Blockchain marketplace Climatetrade will be building its new CO2 carbon offsetting platform on Algorand, a top-50 cryptocurrency project that is gunning for scalability and transactional performance.\u00a0<\/p>\n

Climatetrade announced<\/a> Wednesday that it has selected the Algorand blockchain to power its carbon offsetting marketplace, which is designed to help organizations achieve CO2 neutrality \u2014 a key pillar in the fight against climate change. <\/p>\n

Climatetrade is building on Algorand for its \u201cflexible architecture, low transaction fees and scalability of transactional performance,\u201d according to CEO Francisco Benedito.<\/p>\n

Algorand is the 49th largest cryptocurrency project with a total market of around $393 million. Its ALGO token currently trades at around $0.34. <\/p>\n

Founded in 2016, Climatetrade allows companies to offset their CO2 footprint by purchasing carbon credits directly on the platform. It also prepares organization-specific sustainability reports, which are becoming more important in the age of corporate social<\/a> responsibility, or CSR. <\/p>\n

CSR considerations have also become an important driver of the so-called<\/a> investing-with-a-conscience<\/a> movement. ESR investing, or strategies that account for a company\u2019s environmental, social, and governance factors, was once a niche movement in the financial markets. This is now a trillion-dollar industry, according<\/a> to data from Morningstar. <\/p>\n

Net inflows into ESR funds topped $71 billion in the second quarter, driven largely by interest in sustainable investing. <\/p>\n

Climatetrade has reportedly secured \u20ac1 million, or $1.21 million USD, in seed investments for its CO2 marketplace. Borderless Capital, which funds \u201ccategory-leading businesses\u201d using Algorand technology<\/a>, is one of its backers. <\/p>\n