Blockchain Press Releases
Key outcomes from a High-Level Roundtable on Voluntary Carbon Markets at The Summit for a New Global Financing Pact
PARIS, June 23, 2023 /PRNewswire/ — The UAE COP28 Presidency and the Glasgow Financial Alliance for Net Zero (GFANZ) co-hosted a high-level roundtable on Voluntary Carbon Markets (VCMs), as an official side event to the Summit for a New Global Financing Pact. His Excellency COP28 President Designate Dr Sultan Al-Jaber and GFANZ Co-Chair and UN Special Envoy for Climate Action and Finance Mark Carney addressed the session, which brought together policymakers, market standard setters, and leaders in business and finance committed to scaling climate finance.
The session confirmed the urgency of ensuring that high-integrity voluntary carbon markets (VCMs) are scaled, given the critical role they can play in mobilizing significant flows of cross-border financing to emerging markets and developing economies (EMDEs). Participants highlighted the role VCMs can play in financing some of our most urgent priorities, such as nature-based solutions, the accelerated phaseout of coal assets and investment in new climate technologies.
The discussion addressed that mobilizing VCMs, at the pace and scale needed to preserve nature and the carbon budget, would require addressing any remaining uncertainty on how compliance and voluntary, domestic and cross-border markets come together, and providing capacity building for those countries seeking to leverage the VCMs. Common foundations were needed, across a range of credit types, and coalescing around new supply and demand-side standards being developed by ICVCM and VCMI was critical. Important work to develop the supply of new types of credit – including those designed to accelerate much needed energy transition – was addressed.
The session also addressed the need to enable high integrity demand pathway to net zero for corporate buyers, whereby reductions of absolute emissions are prioritized, with appropriately defined scope to recognize compensation of residual emissions. The discussion emphasized that to secure the foundations of a high integrity, liquid market in 2023, efforts to align supply, demand, legal, and accounting standards must be facilitated and supported.
More specifically, participants addressed:
- Overarching purpose and rules. The session highlighted the specific role VCMs play in generating cross-border finance for nature preservation, energy transition, and new climate technologies, and the need to build understanding of how compliance and voluntary, domestic, and cross-border markets complement and interact with each other. It was noted that there need be no tradeoff between domestic mitigation and raising cross-border finance, even where host countries retain emissions reductions from voluntary projects to count towards their Nationally Determined Contributions (NDCs).
- High-integrity supply and demand. Speakers applauded progress made on the important work initiated at COP26, to build supply and demand-side standards to secure credibility, integrity, and transparency. Speakers noted the importance of supporting and coalescing around the final standards, led by ICVCM and their Core Carbon Principles and Assessment Framework on the supply side, and VCMI and their provisional Claims Code of Practice on the demand side.
- Building high integrity demand. Lessons learned by corporates and financial institutions seeking to finance high-integrity carbon projects were discussed. Participants noted the need for the private sector to prioritize absolute emissions reductions but with appropriately defined scope to recognize compensation of residual emissions. Participants noted that these efforts sit within a broader architecture of carbon accounting standards and net-zero frameworks and recognized these need to come together in a consistent and efficient way.
- Capacity building and de-risking. The challenges associated with building and scaling high-integrity carbon projects in EMDEs were recognized, as well as the need for innovative financing mechanisms to de-risk these projects in these regions. Attendees also emphasized the need to ensure that local communities and indigenous peoples remain at the core of project design and are able to reap maximum co-benefits.
Following the event, COP28 President-Designate, His Excellency Dr Sultan Al Jaber, said: “Voluntary carbon markets have the potential to be a powerful enabler in financing decarbonization efforts across industries, cities and entire economies, especially in emerging and developing economies. In order to achieve their potential, we must enhance the credibility of carbon markets and ensure that the highest-integrity standards are firmly in place. This can only be done through collaboration between governments, organizations, and civil society to create a supportive regulatory environment, establish a level playing field, and raise universal standards. By working together, acting in unity and focusing on integrity, the value of this vital tool in our collective decarbonization efforts will increase.”
UN Special Envoy on Climate Action and Finance and GFANZ Co-Chair, Mark Carney, said: “With only seven years left to halve emissions and keep 1.5 degrees alive, we cannot afford to leave major sources of climate finance untapped. Voluntary carbon markets could channel hundreds of billions of dollars to nature-based solutions and accelerated coal phaseout. Critical work this year to deliver supply and demand side standards for these markets can support a high ambition path to net zero, where companies prioritize decarbonization and compensate for residual emissions along the way.”
For all media enquiries and requests for interviews, please contact [email protected] For up-to-date COP28 news, follow us on Twitter @COP28_UAE
Notes to Editors:
COP28 UAE:
- COP28 UAE will take place at Expo City Dubai from November 30-December 12, 2023. The Conference is expected to convene over 70,000 participants, including heads of state, government officials, international industry leaders, private sector representatives, academics, experts, youth, and non-state actors.
- As mandated by the Paris Climate Agreement, COP28 UAE will deliver the first ever Global Stocktake – a comprehensive evaluation of progress against climate goals.
- The UAE will lead a process for all parties to agree upon a clear roadmap to accelerate progress through a pragmatic global energy transition and a “leave no one behind” approach to inclusive climate action.
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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
BlocksBridge Consulting
[email protected]
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DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.
For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.
For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.
“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:
- Up to 10% cashback in USDT, BTC and ETH on eligible purchases
- Zero fees for instant virtual card issuance
- Zero annual or hidden fees
- Up to 8% APY
Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!
#Bybit / #TheCryptoArk #theBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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Blockchain Press Releases
Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.
From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:
- South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
- Africa: Eligible users may register to enter the P2P Prize Spinner
Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.
As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.
Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.
Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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