IETA Members and Partners forum
IETA have held a members and partners forum on 10th of October at KPMG office of Gangnam Finance Centre in Seoul, South Korea. In this meeting, Kenneth Jung who is Executive Director of CCET Project presented the utilization of blockchain for carbon market linkage.
Based on this subject, CCET Project has been introduced to be applied to utilization of blockchain system for the international carbon emissions market including North East Asia carbon market which is closely related to K-ETS as domestic scheme. Kenneth Jung of CCET and Stefano De Clara, Director of IETA were presented for the international carbon emissions market linkage in this session. This presentation was linked with ‘PARIS AGREEMENT ARTICLE 6’ and usage of blockchain in the carbon market, one of key agendas of the upcoming COP 24 meeting on 4 December in Poland. This announcement emphasized that the linkage of carbon credits market is one of key factors in determining success of the carbon market and it can solve the problems by utilizing blockchain system with transparency and efficiency. Many domestic and international stakeholders have deeply empathized with necessity of blockchain system and expressed cooperation in various fields in the future.
In the future, CCET Project will reflect on these various opinions and accelerate the development of CCET as the world’s first blockchained carbon generating and trading platform for compliance markets. We are currently developing EMS (Energy Maintenance Service) and MRV (Measurable, Reportable, Verifiable) Device, one of the core elements of CCET Platform implementation, and will be conducting Beta Simulation until December this year.
On the other hand, CCET Team will continue to hold briefings and presenting events regarding the system under development on November in USA and December in Poland.
Dirk Forrister - Chairman of IETA
Kenneth Jung- Executive Director of CCET Project