Bamboo Capital JSC has signed a memorandum of understanding with New Era Energy Ltd. to pilot carbon credit protocol on the blockchain.

New Era will also invest US$50 million to develop BCG’s solar and wind projects this year as part of its commitment to accelerate clean energy adoption in Southeast Asia.

“Innovation and environmental responsibility are at the heart of BCG. We are excited to work with NERA in their efforts to promote clean energy amongst the masses in the world,” said Nguyen Ho Nam, chairman of BCG. “The collaboration will be a win-win for all parties.”

New Era is a blockchain-enabled certification platform for measuring the clean energy footprint that aims to take the carbon trading market to the masses.

“The carbon trading market is valued at over $50 billion as of 2017, yet it remains inaccessible to the masses,” Leonard Ng, co-founder of New Era, said.

“Our goal is to raise awareness of climate change and accelerate the adoption of clean energy in Southeast Asia, and we believe with proper verification and certification of clean energy footprint, we can create a rewarding eco-system to encourage individuals to do green.”— VNS