Fujitsu’s Blockchain Solution Applied to New Water Trading Platform to Tackle Global Water Shortages
TOKYO, Nov 18, 2021 - (JCN Newswire via SEAPRWire.com) - With global water supplies under severe pressure from climate change and growing worldwide demand, Fujitsu and Botanical Water Technologies (BWT) signed an agreement and initiated the creation of a blockchain-based water trading platform, "Botanical Water Exchange" (BWX), on November 8, 2021. Fujitsu will help businesses achieve sustainability commitments and alleviate water shortages through the development of the world's first water trading platform for the exchange of plant-derived water, which is based on the concept of sustainable water offsetting.BWT leverages its patented technology to purify and re-mineralize water that is normally discarded during the production of vegetable and fruit juices and the processing of sugarcane, providing this plant-derived purified water to areas where it often proves difficult to secure safe drinking water.The new BWX platform will rely on the FUJITSU Track and Trust service, which uses blockchain technology to ensure end-to-end transparency and traceability of processes including the refinement, sales, purchase, delivery and usage of the product. With a planned launch date of April 2022, both companies envision the new BWX platform contributing to the realization of greater safety and security in water trading, and ultimately aim to create an open market in which companies including juice concentration facilities, sugar mills, alcohol distilleries, and beverage manufacturers can sell water purified by the patented Botanical Water process.Terry Paule, CEO at Botanical Water Technologies comments, "Reducing all wastage from industrial processes is a key pillar of a "circular economy". The focus of Fujitsu to create a better society through innovation and their breakthrough methodologies are the main reasons for our co-creation journey with them. With our Botanical Water technology we can, for example, recover up to 60% of the water in sugarcane that is still accessible after sugar extraction and produce clean, environmentally green and safe drinking water. Food and beverage manufacturers with excess water produced by the Botanical Water process can either put it to circular use as a sustainable ingredient, market it as AquaBotanical plant-based water or offer water credits on the BWX platform as part of their water positive ESG programs and non-financial indicators."Frederik De Breuck, Head of the FUJITSU Track and Trust Solution Center comments, "Our new blockchain solution, the FUJITSU Track and Trust service, has been developed and launched at the FUJITSU Track and Trust Solution Center in Belgium. To realize the groundbreaking initiative of net-zero water trading with BWT, we have proposed a private and permissioned blockchain-based platform that leverages the Track and Trust solution. With this solution at the core, our multidisciplinary team continues to build blockchain solutions that support the realization of our customers' management visions and the optimal resolution of global social issues under a global structure of co-creation and collaboration with our bases in India, the United Kingdom, and Japan."BackgroundAccording to the UN, about four billion people - nearly two-thirds of the global population - experience severe water scarcity during at least one month of the year (3). The UN's Sustainable Development Goals (SDGs) for 2030 recognize the urgency of addressing this water scarcity.Amid growing interest in the environment and the SDGs, beverage manufacturers are focusing their efforts on reducing the environmental impact of their business through actions like the reduction of CO2 emissions, the conservation of water sources, and the reduction of water consumption at production facilities.About Botanical Water ExchangeThe new BWX platform will deliver unprecedented supply chain traceability using blockchain technology. Juice concentration facilities, sugar mills, and alcohol distilleries equipped with BWT's equipment will be able to purify water that would otherwise be discarded during the production process. Manufacturers can sell this water to other food and beverage manufacturers on the BWX platform or put it into circular use at their own facility.Companies that want to use Botanical Water in their factories can purchase it via the BWX platform from the nearest Botanical Water refinery. In this way, companies can lower transportation costs, reduce the environmental footprint of their operations, and ultimately contribute to the achievement of both carbon and water neutrality targets.By purchasing "water credits" (4) that can be redeemed on the BWX platform, companies can also donate the same amount of water consumed at their facilities in order to reduce their environmental impact to zero as part of their water positive ESG and corporate compliance programs.For example, companies that use a large amount of water for their business can offset this water usage through the purchase of water credits, which allow them to provide clean drinking water to water-scarce communities and run charity activities through the Botanical Water Foundation not-for-profit organization.About "FUJITSU Track and Trust"The FUJITSU Track and Trust service leverages blockchain technology and draws on a variety of open source software, industry knowledge, information on trends, as well as Fujitsu's know-how gained through the management of systems operations for tens of thousands of customer cases.In addition to authentication and account management, which are required when applying blockchain technologies to business operations, Fujitsu builds on its extensive industry knowledge and integrates its expertise in areas including UI, infrastructure, and networks to offer small-start platforms tailored to its customers' businesses by adopting an agile approach.(1) up to 3 trillion liters annually:Botanical Water Technologies estimated drinking water production capacity.(2) ESG:An environment necessary for long-term corporate growth and for the realization of a sustainable world with three principles: "Environment", "Social" and "Governance"(3) about four billion people - nearly two-thirds of the global population - experience severe water scarcity during at least one month of the year:https://www.unwater.org/water-facts/scarcity/(4) Water credits:A concept similar to that of carbon credits where companies trade mainly for use in water offset. When a company purchases water credits to offset its water use in the manufacturing and distribution of products and services, and the same amount of water is donated, it is offset and the company's water use is reduced.About FujitsuFujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 126,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$34 billion) for the fiscal year ended March 31, 2021. For more information, please see www.fujitsu.com. Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)
SINGAPORE - Singapore is considering using carbon credits to help it reduce its carbon footprint. In response to queries from The Straits Times, a spokesman for the Ministry of Trade and Industry (MTI) said on Wednesday (Oct 20) that Singapore's priority is to reduce its emissions through encouraging industrial energy efficiency and adopting emissions reduction measures. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.
SINGAPORE - Nature is not, and cannot be, a passive victim of economic development, Deputy Prime Minister Heng Swee Keat said on Wednesday (Sept 29). Not only does nature help make city life more liveable, it can also contribute to mankind's fight against climate change, he said, urging delegates gathered at the Ecosperity Week sustainability conference to take a fresh perspective on the natural environment. The three-day conference is convened by Singapore's Temasek for policymakers, investors, non-government groups and businesses, and is being held in a hybrid format with some attendees gathered at Marina Bay Sands. Wednesday marks the second day of the conference. "While we must continue with our global effort to reduce carbon emissions, decarbonisation alone would not be sufficient," Mr Heng said. "We need to also adopt complementary strategies for carbon sequestration, and this is where nature-based solutions can play a big role." Carbon sequestration refers to the ability of trees to take in planet-warming carbon dioxide (CO2) from the atmosphere, and store it in their leaves, roots, trunks and soil. There is growing global attention being paid to the role of natural ecosystems, and how they can be conserved and restored so they can continue to do what they do best - photosynthesising and drawing down the amount of CO2 in the atmosphere. Mr Heng said the potential for such nature-based solutions in South-east Asia is "tremendous", as the region is home to 200 million ha of terrestrial forests, and has the largest blue carbon stock in the world. Blue carbon refers to the carbon locked up in marine ecosystems such as mangrove swamps and seagrass meadows. These habitats are known to store much more carbon than land-based forests. Mr Heng said unlocking the potential of what nature has to offer at scale will require a significant amount of investments. An earlier "carbon prospecting" study by the National University of Singapore's (NUS) Centre for Nature-based Climate Solutions had found that if about 1.55 billion ha of tropical forests (almost the size of Russia) under imminent threat of being cleared are saved from the axe, these plots could generate returns of more than US$46 billion (S$62 billion) a year through the sale of carbon credits. But before gains can be reaped from nature, a few kinks must first be ironed out, Mr Heng said. One, a carbon marketplace with robust governance standards and an emphasis on trust must be built, he said. Singapore is contributing to this on a few fronts, said Mr Heng, citing the NUS centre helmed by Professor Koh Lian Pin and the Climate Impact X (CIX) - a global carbon exchange and marketplace funded by DBS Bank, Temasek, StanChart and the Singapore Exchange announced earlier this year. CIX is a promising solution in the fragmented carbon credit markets landscape today, which is characterised by thin liquidity and carbon credits of varying quality, said Mr Heng. Singapore is also represented on the Taskforce on Scaling Voluntary Carbon Markets - a global initiative to help define the standards for carbon markets, he said. More on this topic Related Story Climate action a responsibility that businesses must take: President Halimah Related Story Companies need to set clear plans to achieve net-zero emissions target: Panellists Two, carbon must be properly priced to account for the negative externalities that it contributes to the global climate. A higher carbon price, for instance, can make forest conservation projects more viable, since money can now be made through the sale of carbon credits. It can also make conserving a forest more profitable than, say, cutting it down for a plantation. Mr Heng said the Singapore Government is reviewing the trajectory and the level of its carbon tax post-2023. The current rate is $5 per tonne of emissions - a rate that critics have claimed is far too low. The International Monetary Fund has recommended a carbon tax floor with prices ranging from $25 to $75. Said Mr Heng: "By setting an appropriate level of carbon tax, we can spur sustainability efforts - including nature-based solutions - while remaining competitive." Mr Heng said the Covid-19 pandemic did not derail the green movement, but instead gave it more momentum. Carbon must be properly priced to account for the negative externalities that it contributes to the global climate. ST PHOTO: LIM YAOHUI The global media is putting focus on this issue, he said, citing World News Day on Sept 28 that had focused on the climate crisis. The Straits Times joins 500 newsrooms from around the world in telling the story of how climate change is already impacting the lives and livelihoods of communities, and how they are grappling with it. Environmental accountability is also becoming a key consideration alongside profitability, said Mr Heng. "What is clear is that carbon will become an increasingly greater constraint for the world. But this does not mean that global growth would be stunted, and human progress impeded. What we can achieve in the decades ahead, depends critically on what we do today," he said. Other than reimagining nature, he also highlighted two other ways of overcoming resource constraints in a greener world - leveraging science and technology to make green choices less difficult, and cutting back on consumption in a way that will not compromise the standard of living. More on this topic Related Story S'pore exploring hydrogen, carbon capture technologies in decarbonisation goal Related Story Climate experts confident S'pore public sector can achieve ambitious carbon emission goals "We need companies to better innovate and develop business models that are beneficial to consumers, low-carbon and yet, profitable," he said. He cited a new business model that can spur the use of solar energy through subscription-based models where users pay-per-use instead of coughing up hefty upfront costs of installing and maintaining the solar panels. "The world still has some way to go in arriving at concrete plans to achieve our climate goals," Mr Heng said. "This journey can be much easier if we are able to reimagine our constraints and turn them into opportunities." More on this topic Related Story S'pore must tackle climate change while balancing trade-offs: Teo Chee Hean Related Story S'pore companies getting better at sustainability reporting: SGX-NUS review
TOKYO, May 12, 2021 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Corporation (MC) is pleased to announce it has signed a collaboration agreement with one of the world's largest carbon credit developers, South Pole. Part of MC's efforts to reduce its environmental impact, the agreement covers the joint study of a project to generate and sell carbon credits derived from carbon removal technologies such as CCUS (Carbon Capture Utilization and Storage).In order to achieve the goals set forth in the Paris Agreement and keep global warming within 1.5degC(1), it is considered critical not only to reduce CO2 emissions, but also to introduce carbon removal technologies such as CCUS, which captures, stores, and effectively uses the CO2 already emitted into the atmosphere. However, technological innovation and cost reduction are issues that need to be addressed before carbon removal technologies can be implemented on a large scale.This project aims to solve these problems by developing and selling carbon credits for carbon removal technologies, providing a new source of revenue through credit sales to the companies that supply the credits, and offering credit buyers the opportunity to purchase the credits.MC has been working on several projects in the field of CO2 mineralization(2), and by utilizing its knowledge and network, will examine and determine the feasibility of commercialization with South Pole by the end of this year. Through the commercialization of this project, MC hopes to contribute to global decarbonization by creating and leading a virtuous cycle that promotes the development and implementation of superior carbon removal technologies such as CCUS.Overview of South PoleSouth Pole recognizes that private sector climate action is essential to address climate change. To leverage this potential, South Pole focuses on working with large companies to reduce their environmental footprint while making concrete impacts on removing CO2 from the atmosphere through direct development of climate action projects. Founded in 2006, South Pole today has about 500 staff in 18 offices globally, and has developed about 1,000 projects responsible for removing, reducing or avoiding over 100 million tons of CO2e to date. South Pole has worked with over 1,000 companies and organizations on their climate journeys. For more information, visit www.southpole.com or follow us on LinkedIn, Twitter, and Facebook.(1) According to the IPCC Special Report "Global Warming of 1.5degC" (SR15) there is an urgent need to scale up efforts to remove CO2 from the atmosphere in order to achieve the 100-1,000 Gt of CO2 removals by 2050 required to keep global warming within 1.5degC.(2) Related MC announcementsR&D on Use of CO2 in Concrete(August 5th 2020)Use of CO2 in Concrete / Partnership with Blue Planet Systems Corporation(September 23, 2020)Use of CO2 in Concrete / Investment in CarbonCure and Formation of Partnership(January 29, 2021) Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)
SINGAPORE - By end-March, $940 million in Wage Credit Scheme (WCS) payouts will be disbursed to more than 98,000 employers here, bringing the total amount in wage credits paid out during the pandemic to over $2 billion. In a Facebook post on Thursday (March 18), Deputy Prime Minister and Finance Minister Heng Swee Keat wrote that uplifting workers remains "at the very centre of all that we do", as the Government makes every effort to cope with the pandemic and transform the economy and businesses. "The WCS is one of the ways to uplift our workers, by supporting businesses to provide wage increases to Singaporean workers," he said. The WCS co-funds wage increases. It was introduced in 2013 as a three-year scheme and then extended to 2020 to support businesses in their transformation efforts and encourage sharing of productivity gains with workers. In Budget 2021, it was extended by another year at a co-funding level of 15 per cent, to further support wage increments to help companies build up their local workforce and emerge stronger from Covid-19. This followed earlier enhancements to the scheme in 2020's first Unity Budget, when government co-funding of qualifying wage increases in 2019 and 2020 was raised by five percentage points to 20 per cent and 15 per cent respectively. The gross monthly wage ceiling for employees was also raised from $4,000 to $5,000 for both years, enabling more to qualify for the wage credit. Over $1 billion in wage credits was disbursed to more than 95,000 employers in 2020, for wage increases in 2019. An additional payout was made in June 2020, on top of the yearly payout made in March 2020. In a joint release on Thursday, the Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (Iras) said that through the upcoming payout in March, the Government will co-fund 15 per cent of qualifying wage increases given from 2017 to 2020, to more than 800,000 local employees earning a gross monthly wage of up to $5,000. This will support wage increases and benefit more than 98,000 employers, they said. Mr Heng noted that it is heartening that many employers, despite having to cope with the stresses and strains posed by the pandemic, are continuing to do their part to uplift their workers. "These are uncertain times for many workers and businesses. I encourage employers to continue to make use of this and other schemes to redesign jobs and upskill their workers," he wrote. "By continuing to put the well-being of our workers at the heart of what we do, businesses will build stronger bonds with their workers, and emerge stronger together in a post-pandemic world." Employers do not need to apply to receive the payouts. Eligible employers will receive letters from Iras by March 31 informing them of their payout amount. More on this topic Related Story Wage Credit Scheme payouts to eligible employers to go fully cashless from March 2020 Related Story S'pore firms got $27.4 billion in grants last year, with $17.4 billion approved in loans These will be credited directly to employers' registered bank accounts through PayNow Corporate or Giro. Any appeals regarding WCS payouts must be submitted to Iras by June 30 and will be considered on a case-by-case basis. More information can be found at the Iras website. Iras can also be contacted directly at 1800-352-4727 or by e-mail at wcs@iras.gov.sg.
Sao Paulo, Brazil, Dec 18, 2020 - (ACN Newswire) - Moss, the largest environmental platform in the world, revolutionizes climate change combat efforts by tokenizing carbon credits. The proceeds from this tokenization project have helped to protect indirectly almost 1 mm hectares of the Amazon forest from deforestation. Subsequently, this initiative will serve as a stepping stone toward creating a digital, global solution to thwart climate change. Since Moss kicked off its innovative carbon credit project in the eight months, it has managed to contribute more to preserving the Amazon Forest than Brazil's own government. Moss understands the pivotal role of the Amazon rainforest in our ecosystem and is taking meaningful steps to curtail factors responsible for this location's diminishing circumference. The main objective is to modernize carbon credits and their market to eliminate greenhouse gases effectively. To this end, Moss opted to tokenize carbon credits and apply blockchain technology to environmental assets. One of the benefits of this integration is that tokenized carbon credits facilitate a global environmental conservation market. More importantly, this project enables secure carbon credit transactions and establishes a fully transparent system. In essence, all of Moss's activities and the transactions of its growing network of environmental-friendly clients are trackable and void of manipulation. In its current form, the carbon credit market is neither efficient nor transparent. Blockchain provides significant improvements for transparency, security, and adaptability. Moss's vision to digitize one of the last remaining analog sectors of the global economy is crucial for any climate change-related effort. Through this technology, anyone in the world can become part of this global initiative. Further projects will be added to the platform soon. Armed with this viable system, Moss has directly contributed to remunerating the avoidance of emission of 2,000,000 tons of greenhouse gases. In just over 8 months, Moss has purchased and sold over 900 thousand tons of CO2, making it the largest player in the world's carbon credit voluntary market. Much of this progress stems from the tokenization project launched earlier this year. This campaign, powered by the issuance of MCO2 Token, helped to remunerate the preservation of almost 1 million hectares of forest, equivalent to half the size of a small country like Lebanon. Overall interest in the MCO2 token is on the rise, thanks to the adoption of blockchain for advanced programmability. One MCO2 token is equivalent to one carbon credit. Hence, the issuance and distribution of this digital asset democratize carbon offsetting via smart contracts. In turn, this provides viable means for companies and individuals to create applications to reduce greenhouse emissions. Moss's carbon credit tokenization initiative introduces new ideas and concepts for utility, programmability, and composability to the carbon credit market. Furthermore, this utility has propelled MCO2 Token to the forefront of attention. Brazilians can obtain MCO2 tokens from the FlowBTC platform and do their part to save the climate. Moss believes that the simplistic nature of MCO2 gives it the potential to emerge as the building block for future token-based infrastructure. Unlike other assets issued through blockchain technology, MCO2 is a utility token, and Moss tokenizes a service the world direly needs. It is important to note that the project has undergone standard audit checks from credible firms, including Perkins Coie and CertiK. Armanino and EY are carrying out further audits. About Moss Moss is the world's largest environmental platform focused on developing innovative approaches to pursuing a sustainable environment. An initial focus on the Amazon rainforest has proven successful, yet we are confident we can make a global impact. Most of our activities revolve around the sourcing and selling carbon credits, albeit through digitally-powered and viable processes. Social Links Facebook: https://www.facebook.com/moss.earthbr LinkedIn: https://www.linkedin.com/company/moss-earth Telegram: https://t.me/MCO2token Twitter: https://twitter.com/moss_earth Media contact Company: Moss.Earth Contact: Vinicius Porazza Dias, Head of Marketing E-Mail: viniciusporazza@moss.earth Address (with Postcode): Rua Gumercindo Saraiva, 54 - Sao Paulo - SP, 01449-070 Official Website: https://moss.earth/ SOURCE: Moss.Earth Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com