Market-based solutions to climate change are plagued by greenwashing, inefficiency and a total lack of governance. A metric ton of carbon not emitted in the EU will gain up to $100. Planting a tree that offsets this amount may cost $100 as well. But many companies obtain their 'zero emissions' certificate for a Fiver!!! This gives "Mr Market" a very bad reputation. Where many see hypocrisy and despair, we see opportunity and hope: Carbon as a new asset class for Decentralized Finance on Cardano.
Cardano is different. Built with our hearts and souls over many years, it is based on academic research and built on first principles. Plutus smart contracts are deterministic, secure and fast.
To succeed in limiting global warming, the collective intelligence of legacy energy merchants and traders, engineers, blockchain developers and green activists is needed. We are creating the platform for them to come together and develop collaboratively using open source.
We combine in-depth experience originating and trading the Kyoto Protocol Clean Development Mechanism, managing a large portfolio of EU-ETS futures contracts, Plutus development experience, DeFi innovation and risk management know-how. Tapping into our network of contacts at utilities, energy trading firms and governments, we will move existing VERs, credits, ETS etc onto the Cardano blockchain, improving transparency and creating a novel financial market. Organized as a charitable foundation but using market mechanisms we want to create powerful incentives and appeal to people's love for our planet at the same time.
Experienced energy derivatives trader and entrepreneur. Ex Shell, Vattenfall, Masefield. Passionate about water ecosystems. Tom has been a World Wildlife Fund supporter continuously since age 7.
Financial market expert and academic. Vast experience in risk, derivatives and commodities. Loves mangroves and rainforests.
Lloyd is a Plutus Pioneer and owner/operator of Living Greens Urban Farm. A 25 Year IT veteran with CTO level experience who champions sustainability locally as well as globally.
Experienced energy market CEO, Consultant, former president of a billion dollar Inc and keen bird-watcher and long distance walker.
We are now busy implementing the first carbon offset token on the Cardano network, representing 1 metric ton of CO2-equivalent greenhouse gas emission offset. Different qualities for specific origin (Nature-based, Energy efficiency) and accreditation methods will follow.
Are you a blockchain developer, have ideas how to tackle climate change, experience with other DeFi protocols, written on the subject or done research? Do you know people in energy companies, government, NGOs, universities who are stakeholders in setting carbon prices? Please share, let us all come together and refine the ideas and tools needed to put a price on greenhouse gas emissions that is meaningful and capable of reducing externalities.
With a carbon price of zero, the electricity market does not work - coal is effectively subsidized by a failure to account for the damage of global warming. Offsetting your plane ticket's carbon footprint for a few dollars or bringing a 'bag for life' unfortunately will not make a meaningful impact. We need a revolution with at least the same magnitude as crypto shaking up the world of finance. That's why we need DeFi to put a price on greenhouse gases.
By burning the supply of "meme coins" the creators hope to drive up the price. A strong community means the remaining coins are in the hands of HODLers, driving up prices. It is a relatively primitive, but highly effective process. The same could work on a much larger scale to gradually limit the supply of available carbon emission permits issued by global governments or other multinational or voluntary schemes. This would then make carbon capture technology more attractive to develop and innovate, create incentives for reforestation and force electricity producers into cleaner fuels without legislation they could escape by using loopholes. It is the free market at work within a self-policing system of governance.
Let us hear your thoughts, constructive criticism, bright ideas, concerns or any other insights worth sharing. You rock!!!