The wealth tokenization platform Arx Veritas and the tokenization infrastructure company Blubird are leveraging blockchain technology to prevent nearly 400 million tons of carbon dioxide emissions, setting a record in the digital asset tokenization industry.
These two companies have tokenized $32 billion worth of emission reduction assets (ERA) on Blubird's Redbelly network, aiming to establish a "new standard" for financing and tracking sustainable development efforts.
The tokenized assets include plugged oil wells and coal mines, representing over 394 million tons of carbon dioxide reduction, marking the largest-scale tokenization effort aligned with environmental, social, and governance (ESG) frameworks.
The 394 million tons of carbon dioxide reduction comes from two sources: coal that would have been mined, processed, transported, and burned, and pollutants prevented by plugging abandoned oil wells.
The prevented emissions are equivalent to nearly 395 million round-trip flights from New York to London, or 986 billion miles driven by an average passenger vehicle, or 105 times Iceland's annual carbon dioxide emissions.
In an announcement shared with Cointelegraph on Thursday, Bluebird stated that the company is seeing "strong institutional demand for ESG-oriented asset tokenization, with over $500 million in transactions currently under negotiation and a significant institutional acquisition imminent."
Real-world asset (RWA) tokenization refers to the minting of financial and other tangible assets on an immutable blockchain ledger, bringing benefits such as shared ownership, increased investor accessibility, and 24/7 liquidity.
ERA represents real-world projects, such as closing coal mines or plugging oil wells, that measurably prevent the release of carbon dioxide and greenhouse gases.
The growing institutional demand for tokenized assets could bring trillions of dollars to blockchain in the coming years, said Blubird co-founder and CEO Corey Billington:
"Blubird already has over $18 billion in active transactions queued up, and we are just getting started," Billington said, adding that the shift to tokenization is "inevitable."
Bluebird aims to tokenize an additional $18 billion in assets by 2026 to "solidify" its position in the RWA industry.
"We expect this additional $18 billion pipeline to be roughly equivalent to 230 million tons of carbon dioxide reduction," the CEO said, adding that this also covers asset classes such as commodities, financial instruments, and infrastructure assets.
According to Blubird's estimates, combined with its existing $32 billion tokenized ERA, the total environmental impact is expected to equal 600 million tons of carbon dioxide reduction.
Related: VanEck CEO calls Ethereum (ETH) the "Wall Street token," set to become the preferred stablecoin for bank trading
Original article: “Record $32 Billion ESG Tokenization: Blubird, Arx Veritas Prevent 400 Million Tons of CO2 Emissions”
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