BNP Paribas Securities Services goes live with ClimateSeed

Carbon offsetting platform is BNP Paribas Securities Services’ first accredited Social Business.

By Richard Schwartz

ClimateSeed, BNP Paribas Securities Services’ voluntary carbon offsetting platform, is now live with 19 project developers promoting and selling carbon credits, representing eight million tonnes of carbon dioxide equivalents on the platform.

The platform was developed with the support of Grameen Creative Lab co-founded by Nobel Peace Prize laureate Professor Muhammad Yunus.

ClimateSeed will reinvest all its profits in its development to maximise its positive impact on society and the environment.

“The launch of ClimateSeed is part of the commitment BNP Paribas has made to encourage decarbonisation and carbon neutrality,” said Patrick Colle, general manager of BNP Paribas Securities Services. “This new digital platform allows us to leverage our expertise to contribute to the Sustainable Development Goals of the United Nations. As well as supporting climate action, voluntary carbon offsetting projects often help bring more prosperity and social inclusion in local communities. We are especially proud that ClimateSeed has been accredited as a Social Business.”

Sébastien Nunes, CEO, ClimateSeed, explained the aim of the project as connecting investors with project developers through a centralised platform.

Built as a marketplace, ClimateSeed connects businesses looking to offset their carbon emissions with project developers offering voluntary carbon credits and looking for funding.

It performs a three-level verification process on each project promoted on its platform including certification checks, due diligence on the project developer and project analysis from a sustainability committee.