JPMorgan’s Kinexys Partners with S&P Global to Pilot Carbon Credit Tokenization in $2 Trillion Market

JPMorgan Chase is launching a new service to tokenize carbon credits through its blockchain subsidiary, Kinexys. The initiative involves a pilot program in partnership with three carbon-focused companies, including S&P Global, to explore how blockchain technology can enhance the transparency, liquidity, and standardization of the carbon credit market. This effort aims to address issues such as fraud and double-counting in the carbon offsets market, which is projected to grow to a $2 trillion industry by 2030. The pilot represents a move by Wall Street to bring greater accountability to carbon markets by leveraging blockchain solutions.