Press

KlimaDAO JAPAN Co., Ltd. (Representative Director: Shohei Hamada, Headquarters: Chuo-ku, Tokyo) commences a beta trial of the blockchain-based carbon credit marketplace "KlimaDAO JAPAN MARKET." In this pilot (hereinafter referred to as "this Pilot"), OPTAGE Inc. (President: Masahiko Nabe, Headquarters: Chuo-ku, Osaka) provides corporate wallets, and Mizuho Financial Group, Inc. (President & CEO: Masahiro Kihara, Headquarters: Chiyoda-ku, Tokyo) offers practical support for the project, and PBADAO Inc. (Representatives: Makoto Haga and Shingo Horii, Headquarters: Shibuya-ku, Tokyo) conducts project management and development support.

In this Pilot, Japan's J-Credit is used to verify the benefits of the blockchain based carbon credit tokenization market, utilizing KlimaDAO's global smart contract, Carbonmark API. Initially, the trading verification is conducted in a closed environment with participating companies and local governments. We aim to publicly launch the platform next spring.
In this Pilot, as a world-first initiative, J-Credit is tokenized (hereinafter referred to as "J-Credit Tokens") on the public blockchain (hereinafter referred to as "Public chain") to enable transactions. J-Credit Tokens is issued on the Polygon blockchain as ERC-20 standard tokens, and 1 token corresponds to 1t-CO2.
By leveraging blockchain technology, we aim to enhance the reliability and transparency of the carbon credit market and address the challenges faced by existing carbon credits, including J-Credits, such as low liquidity, lack of transparency in transactions, and complex procedures. Furthermore, by integrating with a blockchain-based MRV (Measurement, Reporting, and Verification) system, it is expected that in the future, the entire process from issuance to distribution of credits can be seamlessly conducted on the blockchain.

Additionally, since carbon credits issued on the blockchain are programmable, it is expected that they will be applied to various services. For example, it enables automated transactions using smart contracts and stablecoins, the splitting and merging of credits, and integration with other financial products. These innovative services, which were challenging to achieve in traditional carbon credit markets, can now be realized. This is expected to contribute to the revitalization of the carbon credit market and the realization of more flexible measures against climate change.

In the future, by creating a platform that allows not only corporations but also individuals to buy and sell carbon credit, we will promote the democratization of carbon credit and create an environment where everyone can contribute to the environment with peace of mind. In addition, the service will be integrated with KlimaDAO's global marketplace "Carbonmark," and we aim to handle international carbon credits certified by EcoRegistry and International Carbon Registry (ICR).

About the Pilot:
In this Pilot, a wide range of corporations participate as both sellers and buyers of J-Credits. We welcome participation from various types of corporations, including companies, local governments, NPOs, general incorporated associations, and educational institutions. This Pilot is scheduled to run until the end of February 2025.

The main contents of this Pilot are as follows:

1. Sellers: Tokenize the J-Credits they hold using smart contracts (J-Credit Tokens) and sell them by listing them on KlimaDAO JAPAN MARKET.

2. Buyers: Purchase J-Credit Tokens and perform the following actions:
○Store J-Credit Tokens in wallets
○Execute invalidation processing via smart contracts
○Receive and store the invalidation certificates in wallets
○Transfer to J-Credit management accounts
○Secondary sales

Currently, the following organizations have confirmed their participation (in no particular order):

We are continuously recruiting corporations to participate in this Pilot. We welcome participation from corporations of all sizes and industries that are interested in carbon credits. If you wish to participate, please contact us at the provided contact information.
Through this Pilot, we verify the effectiveness and challenges of carbon credit trading using blockchain technology and aim to build a more efficient and transparent market. And this Pilot is an important step toward the public launch in spring 2025, and based on the results, we will improve and expand the service.

◆About KlimaDAO JAPAN MARKET

KlimaDAO JAPAN MARKET is a digital carbon credit trading platform that operates on a public blockchain. Utilizing the smart contracts of the "Carbonmark API," it enables the tokenization, trading, and amortization of carbon credits. By enhancing transaction transparency and streamlining procedures, it provides an environment where anyone can participate in climate change mitigation efforts without borders.

◆Comments from Representative of KlimaDAO JAPAN Co., Ltd.

We are very pleased to commence the world's first pilot project for blockchain-based J-Credit trading, in collaboration with innovative partner companies such as Mizuho Financial Group and OPTAGE. The current carbon credit market faces various challenges, such as transaction opacity and complex procedures. By leveraging blockchain technology, KlimaDAO JAPAN MARKET aims to address these issues and realize a more transparent and efficient market.
Through this platform, we hope to create an environment where more people, from companies to individuals, can participate in carbon credit transactions and contribute to Japan's decarbonization. Furthermore, by integrating with KlimaDAO's global network, we will also promote the globalization of Japan's carbon credit market.
To realize a sustainable society, we will open up new possibilities with the power of technology. That is the mission of KlimaDAO JAPAN. We look forward to your participation and support.

◆Comments from Project Manager of OPTAGE Inc.

In this Pilot, Optage is responsible for providing a wallet to manage and distribute J-Credit Tokens traded on KlimaDAO JAPAN MARKET. By offering secure a wallet, we are confident that we can further enhance the reliability and transparency of the carbon credit market, as well as contribute to increasing the market's liquidity and stability.

◆Comments from Manager of Mizuho Financial Group, Inc.

We are conducting a pilot project in collaboration with KlimaDAO JAPAN and OPTAGE to explore the effective use of blockchain in the carbon credit market. As global interest in climate change mitigation grows, we believe that the utilization of carbon credits is one of the effective means to achieve a sustainable future. Through this Pilot, we aim to identify the challenges facing the current carbon credit market and gain valuable insights into the effective use of blockchain. We are sincerely looking forward to the outcomes of this initiative.

◆Comments from Representative of PBADAO Co., LTd.

We are pleased to announce that our company is directing the KlimaDAO JAPAN Market project as part of this Pilot. Additionally, we are considering the development of applications for the next phase of this Pilot. We expect that the use of blockchain will reduce the barriers to entry in the carbon credit market and develop into a market that all businesses can participate in. We hope that this Pilot will serve as a catalyst for accelerating climate action in Japan.

◆KlimaDAO JAPAN Co., Ltd.

KlimaDAO JAPAN is a company that transforms climate change initiatives from Japan using Web3 and blockchain technology. Based on various innovative technologies owned by KlimaDAO, which is working on climate change measures globally, KlimaDAO will support climate change measures by developing services and systems tailored to Japanese customers. Currently, we are working on the development of "KlimaDAO JAPAN MARKET," a marketplace that enables the trading of carbon credits on the blockchain. We are currently working on the development of KlimaDAO JAPAN MARKET, a marketplace where carbon credits can be traded on the blockchain.

【Company Profile】

Company Name: KlimaDAO JAPAN Co., Ltd.
Established: October 11, 2023
Representative Director: Shohei Hamada
Address: 7th Floor, Nihonbashi Mizuno Building, 1-11-12 Nihonbashi Muromachi, Chuo-ku, Tokyo
Company Website: https://www.klimadao.jp/en

◆About KlimaDAO

A Decentralized Autonomous Organization (DAO) was established on October 18, 2021, with the vision of accelerating the provision of climate change funding globally. By combining tokenized carbon credits with a blockchain technology stack, it aims to enhance market transparency and efficiency.

Approximately 25 million tons of VCS (Verified Carbon Standard, the world's most commercially distributed certified private credit) have been transferred to the blockchain through the infrastructure developed by KlimaDAO, and more than 150 organizations have used them to contribute to climate change mitigation. More than 600,000 tons of credits have been retired on-chain.

Website：https://www.klimadao.finance/

◆OPTAGE Inc.

OPTAGE is an information and communication company wholly owned by Kansai Electric Power Co., Inc., providing a range of services including home optical Internet service “eo ” based on its proprietary fiber optic network, mobile phone service“ mineo ”, corporate information and communications services, cloud services, and data centers operated by OPTAGE. To ensure a safe and reliable information communication infrastructure in the Web3 era, we began trial node hosting services for financial institutions in September 2023. Currently, we are accelerating our efforts in various pilot projects to prepare for the full-scale provision of services in the Web3 domain.

【Company Profile】

Company Name: OPTAGE Inc.
Established: April 2, 1988
President / Representative Director: Masahiko Nabe
Address: OPTAGE Building, 2-1-5 Shiromi, Chuo-ku, Osaka, Japan
Company Website: https://optage.co.jp/en/

◆PBADAO Inc.

PBADAO provides APIs/SDKs for infrastructure products (including wallet-related services) to enhance the usability of blockchain technology, and we also plan and develop applications that utilize them. We have developed applications in various fields such as healthcare, green business, and tourism, and many people enjoy our applications, including applications that exceed 500,000 monthly active users.

【Company Profile】

Company Name: PBADAO Inc.
Established: August 8, 2022
Representative Director: Makoto Haga / Shingo Horii
Address: Daikanyama 135 Building, 13-5 Daikanyamacho, Shibuya-ku, Tokyo, Japan
Company Website: https://pbadao.com/

◆Mizuho Financial Group, Inc.

Mizuho Financial Group is a comprehensive financial group offering a wide range of financial services, including banking, trust banking, securities, and asset management. In the Web3 domain, we aim to provide next-generation financial services utilizing blockchain technology and digital assets, such as the issuance of security tokens.
Under our purpose, "One MIZUHO: Building the future with you," as a value co-creation partner, we will leverage the collective strength of our group and utilize advanced technologies to contribute to solving social and environmental issues.

【Company Profile】

Company Name: Mizuho Financial Group, Inc.
Established: January 8, 2003
President & Group CEO: Masahiro Kihara
Address: Otemachi Tower, 1-5-5 Otemachi, Chiyoda-ku, Tokyo, Japan
Company Website: https://www.mizuhogroup.com/?rt_bn=fg_top_hd

◆Contact Information for This Press Release

KlimaDAO JAPAN Co., Ltd.: Hamada
E-MAIL: info@klimadao.jp