The global carbon credit trading platform Carbonplace has raised USD45mn in a seed funding round and has been incorporated as its own entity. BBVA, one of the nine founding banks, has participated in this round and has appointed its Head of Carbon Markets at BBVA Corporate & Investment Banking, Ingo Ramming, as a representative on Carbonplace’s Board of Directors. Through this technological solution, BBVA will offer its customers committed to decarbonization direct access to carbon credits to offset their emissions. Carbonplace is a trading network that connects buyers and sellers of carbon credits through their respective banks. The platform obtained its initial funding thanks to the nine founding financial institutions that originally developed the underlying technology of the project.

Source: ESG News