PwC Legal Advises eAgronom on Carbon Credit Trading Spin-off
Jul 19, 2022
Default Helvetica Segoe Georgia Times
PwC Legal has advised the eAgronom start-up on the spin-off transaction of blockchain-based carbon credit trader Solid World DAO, as a decentralized autonomous organization. According to PwC Legal, “eAgronom helps farmers become greener and create certified high-quality carbon credits, which have a global demand that is outstripping supply. Companies can voluntarily use carbon credits to reduce their carbon footprint or bring it to zero and thus help stop climate change. The use of credits is particularly important for companies that have set themselves the target of meeting ESG goals. eAgronom is the first carbon credit program in Central and Eastern Europe that is included in the register of the world's largest certifier Verra.”
According to the firm, “eAgronom currently operates the fastest growing certified carbon credit program for farmers in the world. The course of rapid growth also saw the creation of the blockchain-based initiative Solid World DAO, in order to facilitate investments in carbon credits. The decision to separate the two business lines came after consulting the world's leading web3 advisors and funds. A spin-off further increases the potential and focus of both ventures and avoids conflicts of interest. Solid World DAO aims to simplify the trading of carbon credits and make the market safer and more attractive through a decentralized autonomous organization. Solid World DAO is building the world's first public good infrastructure for pre-purchased but not yet certified carbon credits. This will increase investment in carbon credit projects and, in turn, helps to stop climate change.”
PwC Legal’s team included Partners Priit Latt and Indrek Ergma, Head of Financial Transactions and Capital Markets Kirill Lezeiko, and Lawyer Taivo Liivak.