Amber Group Partners with Climate Tech Company Moss Earth to Buy $2M Carbon Offsets
October 29 2021 - 4:07AM
NEWSBTC
Amber Group, a leading crypto trading and technology firm,
announced today a strategic partnership with the climate tech
company Moss Earth, the first and largest environmental platform in
the world to tokenize carbon credits. As per the agreement, Amber
Group bought 250,000 carbon tons offsets’ worth of MCO2 tokens;
approximately enough to offset the cost of more than 280,000 BTC
transactions. “Climate change is the central issue of our times.
Joining forces with Moss Earth will constitute a major pillar of
our carbon neutral business impact ambition and a path towards a
long-term carbon-negative pledge which we will be announcing soon,”
remarked Michael Wu, Founder and CEO of Amber Group. “We will be
working towards offsetting our carbon footprint, toward providing
options for our users to act upon this commitment and eventually
acting to remove carbon emitted since Amber Group commenced
activities in 2017.” As a crucial step towards fulfilling this
pledge, Amber Group is therefore announcing its initiative to offer
carbon offsetting options to its users, through which everyone will
have the opportunity to offset the carbon footprint associated with
their transactions by purchasing MOC2 Tokens, Moss’s tokenized
carbon offsets. Launched by Moss in March 2020, MCO2 is equivalent
to one carbon credit, a digital asset that certifies the prevention
of one ton of carbon dioxide from being emitted into the
atmosphere. Through the certification process and the minting of
MCO2 tokens, funds are sent to conservation projects in the Amazon.
“We are very excited that such a reputable fintech unicorn such as
Amber Group has embraced the battle against climate change – and
honored that Amber Group chose to do it via endorsement of the
MCO2. We believe that adding liquidity to this transparent way of
offsetting carbon emissions is key for it to become easy and for us
to add the habit to our daily routine,” says Luis Adaime, Founder
and CEO of Moss. ”The world confronts a major emergency. Businesses
have to take responsibility and assist their stakeholders in
contributing towards humanity’s common goals. As a rapidly growing
global fintech unicorn, it is our obligation to take a leading role
in combating climate change and empower our users to contribute
towards these lofty, yet non-negotiable aims,” added Michael Wu.
About Amber Group Amber Group is one of the world’s leading crypto
finance service providers, operating globally with twelve offices
on three continents. To date, Amber Group has raised a total of
$128 million in funding from the world’s best investors including
Tiger Global Management, DCM Ventures, Paradigm, Pantera Capital,
Coinbase Ventures, Blockchain.com, Polychain Capital, Dragonfly
Capital, and Fenbushi Capital. About Moss and the MCO2 Token Moss
is a climate tech company focused on environmental services with
global operations. In 2020, it created the first carbon
credit-backed token used to offset greenhouse gases. In its one
year of existence, Moss and its customers have sent more than US$
15 million to the Amazon, which has helped to preserve
approximately 500 million trees. The MCO2 token is already listed
on platforms such as Mercado Bitcoin and FlowBTC as well as
globally on ProBit, Uniswap and Gemini. A carbon credit is a
digital certificate that is equivalent to avoiding the emission of
one ton of CO2 in a given year through forest conservation, clean
energy, and biomass projects, among others.
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