Veridium, the first customer that bets on the TIGRs originated and traded by ALLCOT
Veridium, a collaborative initiative to create a regenerative economy that sustains our planet’s natural resources and reduces carbon emissions, has become the first company which has bought TIGRs originated and traded with projects in which ALLCOT is working: two hydroelectric plants and a 5MW solar park.
The system Veridium is building turns industry-standard carbon offsets into freely tradeable tokenized assets. With their partners, they are creating a marketplace that will automate the corporate carbon credit accounting and offsetting process across global supply chains.
Two months ago, ALLCOT Group achieved the milestone of 58,000 TIGRs successfully originated and traded with 3 projects developed and implemented for 2 companies in Guatemala in the first semester of 2018. This achievement was relevant considering that these projects for developers and traders are the first of this kind in America. Now, Veridium has become the first customer that bets on the TIGRs.
The Tradable Instrument for Global Renewables (TIGR) Registry is an online platform for tracking and trading RECs. The Registry enables developers to generate, verify, and sell RECs. It allows buyers to source RECs anywhere in the world while managing all assets in a single online portal.
Renewable energy certificates (RECs) track all environmental attributes of 1 megawatt hour of renewably generated power. This allows buyers to demonstrate progress toward sustainability goals in a metric, transparent, and verifiable way. For renewable power generators, RECs can provide an additional revenue stream and shorten payback periods on investments.