In the DAO IPCI parachain, 1000 tons of CO2 were marketed and tokenized, creating a carbon offset gateway for the Polkadot ecosystem.
The first 1000 tons of carbon offsets certified by Cercarbono standard were provided by ALLCOT to Robonomics via Evercity platform. This, using DAO IPCI Kusama Chain Candidate 1 (CC1). The transaction was enabled through collaboration of EcoRegistry, Robonomics and Evercity – green debt and carbon origination platform.
A carbon offset is a reduction or removal of greenhouse gasses that enables compensation for carbon emissions made elsewhere. Offsets are measured in tonnes of CO2-equivalent. The tokenized offsets were issued by a forest conservation and indigenous communities protection project in Colombia, which resulted in real, permanent and measurable greenhouse gas emission reductions and concrete social benefits.
Being a Kusama parachain, Robonomics will use the offsets to enable automated carbon footprint offsetting for smart buildings equipped with IoT sensors. These buildings will purchase carbon tokens to compensate for their footprint and eventually become climate-neutral. This will support the achievement of net-zero commitments by companies and municipalities.
The partnership opens a gateway for voluntary carbon offsets, providing Polkadot network and ecosystem members with access to on-chain carbon footprint offsetting. This is especially important for the Web3 ecosystem, since emissions associated with blockchain have led to significant criticism among regulators and investors.
About the participants:
- Cercarbono is an international and voluntary certification programme for carbon offsets headquartered in Colombia.
- EcoRegistry is an independent registry platform based on blockchain, that serves multiple carbon offset programmes to manage the custody of carbon credits.
- DAO IPCI is an open source blockchain platform for the global green finance market which enabled the world’s first international transactions for the purchase and sale of carbon credits on the blockchain.
- Evercity is a green debt and carbon origination platform that makes green finance origination faster, lower cost and more transparent.
- Robonomics is a cost-effective, server-less, and open-source web3 platform for IoT applications.
- ALLCOT is a veteran project developer that offers knowledge, experience and management to greenhouse gas (GHG) emission reduction initiatives around the globe.