CDIOXIDE is a startup based in Cairo, Egypt, with a mission to help build a sustainable environment and economy in the Middle East and North Africa (MENA) region. With the alarming projections that MENA could become uninhabitable by 2050 due to the rapid warming of the region, CDIOXIDE is taking action to address this problem by creating a carbon management accounting platform that helps financial institutions and project developers manage their carbon emissions, calculate their carbon footprint, and trade carbon credits.
AFEM: Automated Footprint Estimation Machine
One of the main challenges facing financial institutions in MENA is calculating their own financing emissions since most companies in the region do not disclose their emissions. To tackle this problem, CDIOXIDE has developed the Automated Footprint Estimation Machine (AFEM), a feature that estimates the borrower/investee Scope 1 and Scope 2 emissions using PCAF approved metrics. With AFEM, financial institutions only need to enter the sector and revenue data of their borrowers/investees, and the platform will automatically calculate their carbon emissions.
Carbon Trading and Certifying Carbon Projects
Apart from helping financial institutions manage their carbon emissions, CDIOXIDE also offers a carbon trading platform that allows financial institutions to trade carbon credits from existing projects and finance new local project developers through the platform. CDIOXIDE will also help new projects in their certification process and sell their carbon credits on their behalf. This includes preparing the required carbon project documentation, completing a baseline study, developing a monitoring and verification plan, and developing a project idea note and project design document. CDIOXIDE will also ensure the credibility of the carbon offsets by validating and verifying the emission reductions by independent third parties.
Net Zero Challenge Finalist
CDIOXIDE’s innovative carbon management accounting platform has garnered recognition, and the company was selected as one of the finalists in the Net Zero Challenge. This was the only finalist from the MEA region, and it was managed by the Responsible Finance and Investment Foundation (RFI) in partnership with HSBC.
Enabling Acting Responsible
CDIOXIDE is a startup with a clear mission of building a sustainable environment and economy in the MENA region. By providing a carbon management accounting platform, CDIOXIDE is taking a crucial step towards addressing the problem of carbon emissions in the region. With the ability to help financial institutions calculate their carbon footprint, trade carbon credits, and assist new projects in their certification process, CDIOXIDE is enabling responsible action in the financial ecosystem.
Conclusion
CDIOXIDE is an innovative startup that is revolutionizing the way carbon emissions are managed and traded in the MENA region. With its AFEM feature, carbon trading platform, and certification process for new projects, CDIOXIDE is making a significant impact in creating a sustainable environment and economy. The company’s selection as a finalist in the Net Zero Challenge is a testament to its innovative approach to carbon management accounting.
Website: http://www.cdioxide.com
