CORRECTING AND REPLACING: Bermuda Carbon Commission Debuts at Green Overseas Climate Finance Forum: Setting a Global Standard for Blue Carbon Innovation

LONDON, UK / ACCESSWIRE / October 24, 2024 / Bermuda took center stage at the Green Overseas Climate Finance Forum today with the launch of the Bermuda Carbon Commission (BCC), a pioneering initiative that promises to revolutionize the global carbon markets. The BCC’s mission is to lead the development of blue carbon solutions by leveraging Bermuda’s unique marine ecosystem and cutting-edge blockchain technology to certify high-integrity carbon credits.

Serving as Bermuda’s official carbon registry, the BCC will oversee the certification of carbon credits through innovative projects such as seagrass restoration, mangrove restoration, floating solar, and coral reef protection. These initiatives are poised to set new global benchmarks for transparency, accountability, and trust in carbon markets, empowering other island nations to build sustainable, verifiable carbon markets of their own.

Scott Kilduff Jr., Executive at the Klima Foundation & co-architect of the BCC, highlighted the Commission’s vision: “Our goal for the BCC is to position Bermuda as a global leader in climate finance by ensuring that every carbon credit is rigorously tracked, verified, and trusted. By utilizing blockchain technology, we’re creating a carbon market that meets the highest standards of transparency and impact.”

Darren Wolfberg, Co-Founder of Triangle Digital, emphasized the pivotal role of technology in the BCC’s success: “Blockchain allows us to verify carbon credits in real-time, ensuring transparency and trust at every stage of the process. The BCC is demonstrating how technology can elevate accountability in climate finance and set new standards in the market.”
Kevin Richards, the driving force behind the BCC, underscored the Commission’s global significance: “The BCC is designed to be a replicable model for other island nations. By certifying carbon credits through nature-based solutions, we are building the foundation for sustainable, low-carbon economies worldwide. The BCC will be a platform for scaling blue carbon solutions that have far-reaching global impact.”

The Bermuda Carbon Commission is positioned to be a transformative force in global climate finance, helping island nations create resilient carbon markets while protecting their ecosystems. By collaborating with international partners such as KLIMA, and Triangle Digital, Bermuda is pioneering a new era in climate finance, one that combines cutting-edge technology with a deep respect for natural ecosystems.

As the world faces increasing pressure to meet climate targets, the BCC’s innovative approach to blue carbon and blockchain-based verification offers a powerful solution for both developed and developing nations to track and trade carbon credits with confidence. Bermuda remains committed to leading this transformation, providing the world with a replicable model for climate action.