XELS forms new partnership with Redshaw Advisors
XELS, a blockchain-based carbon offset platform, has announced that it has joined forces with renowned carbon brokerage and risk management firm Redshaw Advisors. With this new collaboration, Redshaw Advisors will provide strategic advisory, consulting, and procurement of carbon credits for XELS.
XELS launched its blockchain platform and digital asset earlier this month. The startup's tokenised offset credits, which exist on an immutable public ledger, are designed to boost both transparency and participation in carbon markets. Unlike traditional carbon credits, XELS cannot be modified or double spent, and the process of "burning" used tokens ensures the credit is retired forever.
How will the partnership work?
Anyone with an internet connection can buy and trade XELS and by working with Redshaw Advisors, XELS will be able to ensure the legitimacy of each credit it tokenises. It will also provide an additional record of the credit's retirement in the Redshaw Advisors' registry account. Upon retirement, Redshaw Advisors will also issue certificates that XELS' clients can use to show the exact amount of CO2 they've neutralised.
"We are delighted to have been given the opportunity to advise, consult, and procure for XELS across carbon markets - compliance and voluntary - and renewable energy," Bill Goldie, Head of Voluntary Market at Redshaw Advisors.
In the future, XELS strives to offer regulated "compliance" credits in addition to voluntary offset credits. The startup is in advanced discussions with multiple listed Japanese corporations that wish to significantly curtail their environmental impact, in line with Prime Minister Yoshihide Suga's goal of reaching net-zero domestic emissions by 2050.
"In many ways, Japan is playing catch up with the rest of the world, and the European Union in particular," XELS founder and CEO Takeshi Nojima. "XELS will become the easiest, most transparent way for businesses to join the fight against global warming, and we'll be able to provide clear proof of their commitment - backed by Redshaw Advisors. That's something consumers will appreciate, and eventually, demand from the companies they support."