London, May 31, 2024 (GLOBE NEWSWIRE) -- XTCC, the investment ecosystem specialising in publicly listed instruments linked to high-integrity carbon credits, is collaborating with Circulariti, pioneers of a technology platform that empowers fashion brands to achieve profitable transparency in end-to-end supply chains to accelerate net-zero commitments.
Under the terms of a Joint Development Agreement (JDA), the collaboration will bring together XTCC’s expertise in creating high-integrity carbon credit investment assets and Circulariti’s unified transparency technology and comprehensive real-time supply chain data to drive greater transparency, robustness and integrity in carbon reduction best practice in the global fashion industry.
Carbon emissions are an inevitable consequence of global supply chains. It is estimated that the textile industry alone accounts for some 10% of global greenhouse gas emissions; add in to the mix emissions generated by shipping, air freight and other processes in the supply chain and it is evident that the fashion industry makes a significant environmental impact. At the same time there is growing investor and consumer pressure for brands to demonstrate measurable carbon-reduction credentials.
The collaboration will focus on:
- Driving greater sustainability: Establishing more robust methodologies for validating carbon credit projects and initiatives in the ‘seed to second life’ fashion lifecycle.
- Enhancing industry transparency and credibility: Leveraging Circulariti's comprehensive environmental impact data and platform to verify sustainability practices and projects that reduce carbon footprints in fashion supply chains.
- Supporting sustainability goals of brands, investors and consumers Brands benefit from access to validated, high-integrity carbon credits (offset and inset) to support sustainability goals, investors can access listed assets linked to high integrity carbon credits, and consumers can makes choices based on a brand’s quantifiable carbon reduction ‘footprint’.
Jamie Goldring, Founder and CEO, Circulariti said: “We are delighted to have the opportunity to work with XTCC and to bring together our platform for end to end transparency in the fashion supply chain with XTCC’s market-leading carbon credit investment assets. Together we aim to address the lack of visibility in today’s supply chains and regain consumer and investor trust in brands’ sustainability claims.”
Seth Elliott, CEO XTCC said: “XTCC’s guiding principle is to re-engineer trust in carbon as an asset class and to deliver effective solutions for the net zero world. Transparency of use of capital is critical to enhancing the flow of funds to the Global South and delivering a real impact on carbon emission reduction. Integrating XTCC into the Circulariti supply chain will set a benchmark for other supply chains, enabling the coupling of consumer demand for climate action with a technology solution for seamless integration of carbon offsets. The demand by consumers for clarity on carbon neutrality will not abate; XTCC and Circulariti will continue to demonstrate the way forward”.
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About Circulariti
Circulariti empowers fashion brands to achieve true transparency in sustainability efforts and impacts at every step in the life of a garment from ‘farm to second life’. Through unlocking real-time and comprehensive data from the supply chain, and its proprietary transparency platform, Circulariti supports fashion brands to demonstrate the measurable impact of environmental and social effort, driving positive change. Investors and consumers with a genuine interest in making more sustainable choices benefit from transparency around the detail and impact of companies eco-conscious initiatives,
About XTCC
The asset class for the net zero world
XTCC is the world's first stock market quoted investment ecosystem for high-integrity carbon credits sourced from verified, audited projects including renewable energy, nature-based solutions and blue carbon. XTCC has created financial instruments that, for the first time, establish fair market value as a reference for high-integrity carbon credits. Investment is essential to bridge the multi-trillion-dollar gap in climate finance. XTCC provides capital markets with an ecosystem of financial instruments that enables liquidity to flow to communities where it is most needed.
Contact:
Jamie Goldring, Founder and CEO
Circulariti
