BancTrust & Co. Investment Bank and ITMO Ltd Announce a Joint Distribution and Settlement Partnership

Date:

Share post:

ITMO Ltd and BancTrust Investment Bank have agreed to a joint distribution and settlement partnership for countries issuing sovereign carbon ITMOs under Article 6 of the Paris Agreement.

Rainforests are a critical part of the solution to climate change, but promised funding from the developed world to help fund their maintenance has not materialised. ITMOs now allow countries to issue UN verified results in a format which can be purchased by other sovereign nations or corporations.

Kevin Conrad, ITMO Ltd group CEO, who founded the Coalition for Rainforest Nations nearly twenty years ago said, “It’s been a long road, but the rainforest countries are finally in a position where they have the legal structure, verification processes and market appetite to receive fair compensation for providing lungs to the world”.

Also Read: AI in Wealth Management: Benefits and Use Cases

Carlos Fuenmayor, Chief Executive at BancTrust commented, “We are thrilled to announce our partnership with ITMO Ltd to take this next crucial step on the path towards a sustainable future. We firmly believe that the time for action is now, and we are confident that there is extremely strong demand for tradable, verified carbon credits from a diverse range of global sources. This collaboration marks a significant step forward in facilitating the development of a robust and transparent carbon credit trading market.”

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Why is Sustainable FinTech Critical Today

FinTech offers robust convenience and security for financial transactions. But now, many customers are more keen on the...

Inswitch Partners with n1co Technologies To Improve Financial Inclusion In El Salvador

Inswitch, a global company in embedded finance technology, has partnered with n1co Technologies, a fintech company from El...

Billtrust Expands Partnership With Visa To Support Business Payments Network

Billtrust, a company in helping businesses manage orders and payments, has expanded its partnership with Visa. Together, they...

Open Payment Technologies Ltd Launches New Digital Wallet App “Kuady”

Open Payment Technologies Ltd is announcing the launch of its digital wallet app "Kuady". Kuady is designed to...