ClimaTrade was founded in 2017. Headquartered in Valencia (Spain), it helps companies fulfil its carbon offsetting commitments through blockchain-based solutions. It currently has 500 companies registered and over 2,700 final users. Altogether, it has helped to compensate 3 million CO2 tonnes and offers 60 different offsetting projects in 20 countries. Francisco Benedito, co-founder and CEO at ClimateTrade, tells us about how this startup is helping the travel industry to reach its environmental and sustainability goals.
1. What is ClimateTrade’s experience in the travel industry?
We have been working with clients in the travel industry since our inception; in fact, this sector is a key focus for us. On our marketplace, companies of all industries can browse and select verified sustainable projects to offset their emissions – and a lot of those companies come from the travel sector. But we’re also doing interesting work integrating our carbon offsetting API and Whitelabel to the platforms of travel operators.
For instance, Meliá Hotels gives customers within its loyalty program the option to use their points to offset the carbon footprint of their stays. In this case, the ClimateTrade API calculates the carbon emissions associated with each stay, and the offsetting process is integrated within Meliá’s rewards platform.
Last year, we won the UN World Tourism Organization SDG startup competition for SDG 13 – Climate Action. This prize was a reflection of all the work we do to help the travel sector decarbonize and become more sustainable.
And we’re constantly innovating in this space! For instance, we recently partnered up with Travel X to develop carbon-neutral NF Tickets, tradable digital assets representing flight tickets. Wherever the travel industry goes, you can be sure ClimateTrade will be there to ensure it is as sustainable as possible.
2. Are you experiencing a bigger engagement of the travel sector to become carbon-neutral?
Definitely! The heatwaves we’re currently experiencing are a great reminder that climate change puts tourism at risk, and travel operators are very aware of that. Our engagement with the travel industry has grown a lot in recent months. And beyond the urgency of the climate crisis, I think the greater engagement we’re seeing is also due to the success of our solutions for the sector so far.
3. ClimateTrade offers its customers the possibility of offsetting the carbon dioxide of their operations in 60 projects, could you tell us about the most relevant or more interesting for the travel industry?
The most relevant projects for all our customers are the ones that generate positive impact in their regions of operation. For instance, with one of our clients, based in Costa Rica, the money guests spend on offsetting goes to a national reforestation project. This type of synergy is wonderful, because it means that the carbon offsetting activities directly have a positive impact on the tourism experience locally. I think in general, nature-based projects that involve things like reforestation and biodiversity protection are well-suited to the travel industry, since this type of activity can also create incentives for tourists to visit a certain area.