Environmental requirements and regulations have been increasing in an effort to address the climate crisis, one of society’s main concerns in recent years. These goals, however urgent, can be challenging to meet.

In a partnership with INESC-ID, Nova SBE and the Municipality of Fundão, tech company Celfocus has launched a pilot project to support companies in improving their sustainability strategies. It consists of a single digital tool that enables companies to measure, reduce and compensate their carbon dioxide (CO2) emissions, with full security and transparency, thanks to the use of blockchain technology.

In addition to measuring their carbon footprint, the platform allows companies to manage how it will be reduced, based on their own sustainability strategies, a process fully accessible within the platform. Sustainable project promoters can submit initiatives eligible for carbon credits, which in turn can be used in an integrated Marketplace to be sold, purchased or used to compensate emissions.

Tests have been conducted in the municipality of Fundão, with local entities like Alambique Hotel Resort & Spa, the Agrupamento de Escolas do Fundão, the Santa Casa da Misericórdia and the Departamento de Inovação da Autarquia. With the pilot phase completed, and the captured interest of large international companies, Celfocus is now preparing for the commercial distribution of the platform.

The initiative is part of the Blockchain.PT Mobilising Agenda, funded by Portugal’s Recovery and Resilience Plan (PRR) and integrated with international frameworks like the Climate Action Data Trust (CADT), ensuring alignment with the global standards of the climate report.

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Image: Matthias Heyde | Unsplash