With the “Blockchain Week in Busan 2022 (BWB 2022),” which opened on the 27th, ending on the 29th, Marina Chain, a blockchain-based platform company, is drawing attention.

Marina Chain CEO Ha Sung-yeop announced the “Global Carbon Neutral Trend and Carbon Emissions Status” at BWB2022 on the 28th. CEO Ha said, “The world is working for decarbonization, but it is not easy to reduce carbon emissions, and industries that need to continue using traditional fossil fuels such as manufacturing, shipping, and aviation have no alternative right now.”

Carbon emission rights are certificates that give you the right to emit the same amount of carbon dioxide when 1 ton of carbon dioxide is removed. Companies can improve the environmental sector during ESG evaluation through carbon emission purchase, so supply is insufficient compared to demand.

CEO Ha explained, “To solve the problems of the current carbon emission market, lack of price transparency, and lack of transaction transparency, Marina Chain is using blockchain technology to store data and improve the efficiency and reliability of carbon emission trading.”

Marina Chain is a startup established in Singapore in 2020 by graduates of Busan Maritime University and is building a voluntary carbon market platform. Recently, it signed a business agreement with Singapore CIX, Asia’s first carbon emission exchange, and signed MOUs with 14 shipping companies in Singapore, the world’s largest transshipment port, to collect more than 200 ship data. It also received investment from one of the world’s leading shipping companies.

CEO Ha said, “Unlike the government-regulated mandatory carbon market, companies and individuals can participate in the voluntary carbon market, which has infinite growth potential because companies or individuals can buy and sell cuts by reducing carbon emissions on their own.” He then said, “The platform is being activated overseas, mainly by companies and non-profit organizations such as Gold Standard, Vera, Furores, and Nori, but the domestic voluntary carbon market has not yet reached its infancy.”