HAMILTON, BERMUDA / ACCESSWIRE / October 21, 2024 / Bermuda’s reputation as a global hub for climate finance reached new heights today with the official launch of the Bermuda Carbon Commission (BCC) at the Green Overseas Climate Finance Forum. This pioneering initiative demonstrates Bermuda’s unwavering commitment to combating climate change while solidifying its leadership in sustainable finance innovation.
The BCC will serve as Bermuda’s official carbon registry, leading the certification of carbon credits through innovative nature-based solutions such as seagrass restoration, floating solar, mangrove restoration, and coral reef protection. By harnessing blockchain technology, the BCC will ensure transparency, trust, and real-time verification of carbon credits, setting a new standard for accountability in the global carbon markets.
Speaking at the event, Scott Kilduff Jr., Executive at the Klima Foundation & co-architect of the BCC, remarked: “The BCC is designed to position Bermuda at the forefront of sustainable finance. By verifying each carbon credit with integrity, we’re aligning with global standards to ensure the highest levels of transparency and impact.”
Bermuda’s rich marine environment and scientific expertise are essential pillars of the BCC’s initiatives. Mark Guishard, PhD, Chief Operating Officer at the Bermuda Institute of Ocean Sciences (BIOS), highlighted this advantage, stating: “Bermuda’s unique ecosystems offer an exceptional opportunity to develop credible and impactful blue carbon solutions. BIOS’s oceanographic research expertise ensures that the BCC’s projects will drive meaningful climate action that benefits both Bermuda and the world.”
Darren Wolfberg, Co-Founder of Triangle Digital, underscored the vital role of technology in the BCC’s success: “Blockchain enables us to provide real-time monitoring and verification, which is essential for building trust and transparency in carbon markets. The BCC is demonstrating how technology can elevate accountability in climate finance.”
Kevin Richards, who leads the BCC initiative, emphasized the far-reaching significance of the launch for Bermuda and beyond: “The Bermuda Carbon Commission is more than just a carbon registry. It’s an innovation platform that will place Bermuda at the forefront of climate finance, empowering island nations around the world to develop sustainable carbon markets. This initiative lays the groundwork for a low-carbon future, not only for Bermuda but on a global scale.”
By spearheading blue carbon solutions, the BCC will leverage Bermuda’s strengths in finance, technology, and marine conservation. The commission is a natural extension of Bermuda’s longstanding commitment to environmental stewardship and its growing leadership in addressing the most pressing climate challenges.
The launch of the Bermuda Carbon Commission represents a transformative milestone for Bermuda and an invitation to the international community. Bermuda stands ready to
collaborate with global partners to foster sustainable innovation in carbon markets and ensure that small island nations have a powerful voice in the global climate movement.
About the Bermuda Carbon Commission (BCC):
The Bermuda Carbon Commission is Bermuda’s official carbon registry and validator, leveraging blockchain technology to certify carbon credits generated from innovative nature based solutions. By focusing on blue carbon projects, the BCC positions Bermuda as a global leader in sustainable climate finance, helping island nations worldwide develop low-carbon economies.
Media Contact:
Prarthana Nadwani
eVogue Digital
[email protected]
SOURCE: Bermuda Carbon Commission
press release
