MetaVerse Green Exchange (MVGX) is honoured to have won first place in the SFF Global FinTech Awards 2022 under the Singapore FinTech (Singapore Founder) category, featuring our ‘Carbon Suite in the Fight Towards Sustainability’.
The theme for this year’s SFF Global FinTech Awards was “Embracing Digital, Charting the New Normal.” The awards recognise companies that use innovative digital technology to achieve various goals, from sustainability solutions to post-pandemic business strategies. The winners were chosen by an international panel comprising industry experts across multiple domains.
Winning this award has reaffirmed MVGX’s role as a climate solution provider and enabler of corporations and governments looking for infrastructure to achieve their ESG ambitions.
MVGX’s technology sits at the heart of this enablement. Our patent-pending Non-Fungible Digital Twin (NFDT®) technology was created by combining blockchain with Digital Twin technology, which then creates a digital representation of an asset that is traceable, immutable, and allows information to be updated in real-time. This NFDT® technology is then used to create our carbon product suite which includes the Carbon Neutrality Token (CNT®), Carbon Registry System, and Carbon Management System (CMS).
Our CNT® is a proprietary digital carbon credit that does not trigger the Nationally Determined Contributions (NDC) under the Paris Agreement, due to our listing and tokenization process before it goes onto the voluntary emissions market. This way, we are able to solve both the nationality issue and the risk of double-counting of carbon credits; thus, allowing cross-border trading of carbon credits. Moreover, these CNTs® are traceable and immutable on the blockchain, thus ensuring that investments have a direct impact on the environment and green projects.
We are also working with national exchanges, including China and Indonesia, to create a global network of carbon registries so that there is better transparency and integrity for carbon trading. Our NFDT®-powered Carbon Registry System records all the relevant aspects of green projects (e.g. how many carbon credits were involved, and the verification and certification by the government). This easily overcomes the inefficiency and lack-of-trust issues of existing registries, enabling faster and wider adoption of carbon offsetting.
Finally, our CMS helps organizations calculate and report their carbon footprint accurately and efficiently as well as credibly certifying their carbon footprint and/or carbon neutrality with the British Standards Institution (BSI), to attain the highest levels of certification – ISO 14064-1:2018 Carbon Footprint Verification and PAS 2060 Carbon Neutrality Verification.
Through our technologies, we believe we can unite the disparate parts of the carbon market to unlock the unrealised opportunities that will facilitate climate action. In addition, we are also helping Singapore to achieve net zero emissions by 2050 as we do our part to address the global climate crisis.
To learn more about our products and services and how you can do your part to become more sustainable, drop us a note today at contact@mvgx.com!
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