News

13/09/2024

Press Release

CAD Trust announces 2-year funding partnership with Quantedge Advancement Initiative

This support will help operationalise a strategic roadmap for the CAD Trust to transition to long-term sustainability

SINGAPORE, 13th September 2024 — The Climate Action Data Trust (CAD Trust), the decentralised metadata platform that links, aggregates and harmonises all major carbon registry data, has announced a 2-year funding partnership with Quantedge Advancement Initiative (“QAI”), a research-driven grant-making charity registered in Singapore to address data fragmentation and foster integrity and confidence in carbon markets.

Quantedge Advancement Initiative (“QAI”) is affiliated to Quantedge Foundation and funds international charitable and climate initiatives. Through this partnership QAI seeks to catalyse climate change action by fostering the growth of a public good that can accelerate and scale funding of climate mitigation activities around the world.

The funding will help operationalise a strategic roadmap to develop and deliver the multi-fold CAD Trust value proposition and transition the organization to long-term sustainability.

Key priorities of the partnership include:

  • Improving carbon market data quality and availability

– Increasing CAD Trust data coverage by onboarding key independent and national programs

– Participating in and shaping global carbon market data harmonisation efforts, and scaling the CAD Trust data model and infrastructure

  • Supporting operationalization of Article 6 through targeted capacity building interventions, content, partnerships, and advancing technical tracking and reporting capabilities
  • Piloting transparency and integrity solutions, including double counting identification and infrastructure offerings for regulators and independent initiatives
  • Operational efficiency: Streamlining internal processes, implementing technical improvements, and scaling the Secretariat team

Federico Di Credico, Interim CEO, CAD Trust, said: “We are grateful for the support of Quantedge Advancement Initiative, which will enable us to accelerate the development and implementation of CAD Trust strategic value proposition to a high integrity global carbon market. The support also reflects the vibrant climate community in Singapore, which we are proud to be a part of.”

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Contact:

MEDIA CONTACTS:

Ieva Steponaviciute, Climate Action Data Trust: ieva@climateactiondata.org
Cognito for CAD Trust: CADTrust@cognitomedia.com

About CAD Trust:

Climate Action Data Trust (CAD Trust) is a decentralised metadata platform that links, aggregates and harmonises all major carbon registry data to enhance transparent accounting in line with Article 6 of the Paris Agreement. The CAD Trust open-source metadata system uses blockchain technology to create a decentralised record of carbon market activity with the aim to avoid double counting, increase trust in carbon credit data and build confidence in carbon markets.

The Singapore-based initiative was founded by the World Bank, The International Emissions Trading Association (IETA) and the Government of Singapore. CAD Trust is an integral part of the World Bank’s Climate Warehouse End-to-End Digital Ecosystem.

About Quantedge Advancement Initiative:

Quantedge Advancement Initiative (“QAI”) is a privately funded, research-driven grant-making charity registered in Singapore since February 2021. QAI is affiliated to Quantedge Foundation and funds international charitable and climate initiatives. It seeks to deliver impactful solutions to environmental and social challenges around the world by focusing on areas where it can achieve the largest amount of impact per dollar disbursed. Currently, QAI’s main focus areas are in global health and development, and climate change action across Asia and beyond.