Australian start-up C2Zero is set to launch its Carbon Emissions Allowance Cancellation Service (C4S) in London. The service, which allows individuals and businesses to buy and retire carbon emissions allowances from systems that meet EU ETS (emission trading scheme) or UK ETS standards, will be launched by the Lord Mayor of the City of London.

C4S transactions will be available for inspection on a distributed ledger (blockchain) without revealing owner identities. Customer actions will trigger the purchase and retirement of emissions allowances in economically rigorous markets.

"Regulated carbon markets allow participants to buy or sell greenhouse gas (GHG) emissions allowances. C4S by C2Zero will give the public and all businesses, including smaller ones, enhanced global access to these markets, along with the confidence that their carbon allowances have been (or will be) authoritatively retired," said C2Zero Founder and CEO, Roger Cohen. "Using the C2Zero infrastructure, we will offer streamlined management, transparency, and provenance throughout the entire process. Over time, we will expand coverage to other markets which meet the same rigorous standards as the UK ETS. We are very excited about this opportunity."

The launch event will take place at Mansion House in the City of London in March 2024. The Lord Mayor of the City of London, Alderman Michael Mainelli, sees C4S as an example of innovative solutions to global problems.

"The Connect to Prosper year is all about bringing together thought leaders from fields of business, science, and academia, to propose innovative solutions to global problems," he said. "The C4S platform brings Carbon Emission Allowance Cancellation to an even wider audience of those around the world interested in preventing emissions today and is an exciting new innovation on the market."