Global Climate Registry by Carbonbase is the first digital native carbon registry based in Asia, offering efficient, transparent, and secure carbon accounting and verification solutions. Carbonbase’s expertise in the region’s diverse regulatory landscapes, cultural contexts, and sustainability priorities positions them well to provide tailored solutions and support to their customers.
Mission
Radically improve throughput, accountability, transparency, trust, and financing for the existing carbon markets. Carbonbase firmly believes that market-based solutions will be critical to rapidly and urgently scale carbon removal and mitigation technologies that make a real impact on accelerating climate action.
Carbon Project Integrity
The Guardian Ecosystem enables ALLCOT to create a standardized project development framework that fosters trust, transparency and compatibility across all project stakeholders. This ensures the creation of high-integrity projects while maximizing benefits for local communities.
The Guardian Ecosystem facilitates the fulfillment of methodology standards, validation body requirements, project developer needs, and community expectations, thereby enhancing the overall efficiency and transparency of the project
ALLCOT stakeholders benefit from access to accurate and comprehensive information on Hedera Guardian’s public ledger, leveraging a common set of rules and standards, fostering trust and accountability.
Transparently demonstrating how project resources are allocated on the public ledger enables ALLCOT’s stakeholders to comprehend the full scope of a project's efforts, flow of funds, and impact.
By recording the transaction cost at every stage of a project's progress, resulting carbon credits can be priced to maximize revenue distribution back to the local community.
By utilizing Hedera Guardian’s digital ledger, ALLCOT is able to minimize accounting errors, make auditing more open and efficient, and enable a more equitable emergence of verification and validation partners.
The Hedera Guardian Ecosystem establishes a secure chain of data custody, particularly in the case of drone-captured information for origination purposes. This enables ALLCOT to ensure that all project data remains intact, trustworthy and accurately tethered to each project attribute.
By ensuring that data provided aligns with the necessary frameworks, the Guardian helps meet specific industry needs and standards, while ensuring compliance with multiple reporting requirements.
ALLCOT is focused on creating products that surpass the limitations of conventional methods, shifting towards more advanced and efficient approaches to future sustainability markets.
The Guardian serves as a single source of truth, ensuring that policies and rules are standardized and compatible with other sustainability market actors. This enables ALLCOT to align financing through carbon forwards and the structuring of green bonds seamlessly across various entities within the ecosystem
The adoption of a common taxonomy within Guardian enables ALLCOT to establish a standardized language for discussing and addressing various sustainability issues. This fosters better communication and alignment for more effective and cohesive climate action.
By leveraging the flexibility and adaptability of Guardian, ALLCOT has the ability to provide various pathways for different stakeholders as the sustainability market evolves.
The Hedera Guardian Ecosystem operates as a common good, providing services to the entire ecosystem without an extractive fee-based model.
ALLCOT leverages the Hedera Guardian Ecosystem to build on and integrate various services and initiatives already established by other community members. This creates an aligned, streamlined ecosystem of sustainability market actors that avoids duplication to serve the needs of communities, investors, and project developers.
To achieve this, Carbonbase is building products on Hedera Guardian to leverage a 21st century technology stack, focused on digital monitoring capabilities, DLT record-keeping, machine learning and data analysis, and superior user experience to expand, enrich and accelerate the global carbon markets.
Global Climate Registry is built on Hedera Hashgraph, an energy efficient, high throughput ledger and ecosystem that includes 29 of the world’s largest companies provides the necessary infrastructure for and the critical mass of the corporate adoption footprint to drive use cases for the Global Climate Registry.
Next generation carbon markets
Carbonbase, with technology partner ImpactX, has worked together to build the Global Climate Registry (GCR), a next generation, digital-native, DLT backend carbon registry, with an emphasis on digital verification, API-driven infrastructure, global digital identity accounts, and evidence ledgers.
GCR aims to onboard and develop technology-based removal and avoidance methodologies, like carbon capture and storage (CCS), building retrofits, transportation efficiency improvements and remote sensing etc. These methodologies can help project developers produce more high quality carbon credits, with increased permanence and high data availability, to make their projects more credible and attractive to the potential buyers.
Global Climate Registry (GCR) is the first digital-native carbon registry to be based in Asia, providing users seamless access to a registry platform to apply for carbon offset projects, verify projects and purchase carbon credits. Built on Hedera, the registry seeks to enhance user experience for all ecosystem participants while also answering the demand for increased data integrity and transparency for carbon projects.
Transparency and security
Carbonbase’s use of Guardian enables the GCR to assign a unique persistent digital ID for every individual, organization and government entity that wants to participate in the voluntary carbon markets - creating transparency and accountability for all records of origination and utilization of carbon credit assets. By utilizing DLT technology, GCR ensures transparent and immutable records of carbon removal and avoidance projects. This fosters trust among participants in the ecosystem, including project developers, investors, and verifiers, as they can access and verify project data in a secure and auditable manner.
Streamlined market
GCR transforms the documents that project developers and VVBs submit into digital forms, and supports the data coming from the IoT sensors using API, which streamlines the reporting process for project developers, resulting in a much lower cost for measurement and higher quality for carbon credits. The use of machine learning, smart contracts and analysis automation additionally scales the speed of measurement, reducing verification time compared to a manual evaluation process. GCR enables both enterprise and individual credit buyers to find high integrity carbon offset projects that have data driven evidence ledgers to give longer horizon evidence credibility. In addition, a focus on building GCR to be compatible with existing robust digital asset networks creates unlocks access to an open innovation ecosystem, allowing new participation from diverse global stakeholders, and allows interoperability with powerful decentralized finance tools to grow the sustainable finance ecosystem.
High integrity carbon removal
GCR customers require high quality carbon credits, especially those who are the governance council members of Hedera, such as IBM, Boeing and Google. By focusing on data-driven methodologies, GCR will create a new category of “technology driven” carbon removal and avoidance credits that include smart buildings and decarbonisation of transport. Carbonbase is also a founding member of a new IEEE Standard: P7802, “Standard for Measurement and Verification of Reduction of Greenhouse Gases for Climate Action Projects and Solutions”, building on the strong backbone of the IEEE, one of the biggest professional organizations in the world with 470,000+ members across 160+ countries.
Real-time data integration
GCR is designed to be API compatible, allowing for high throughput and real time data ingestion to provide rich models for ensuring project integrity, allowing for data collection from IoT and remote sensing solutions. Upgrading infrastructure with technology can transform market transparency, integrity and inclusion. Satellite imagery, aerial drones, on-site sensors and DLT documentation offer continuous remote tracking of project activities rather than sporadic manual monitoring. This identifies discrepancies from initial land use baselines. DLT-based data trails increase auditability of project impact and evidence.
Fostering a strong collaborative ecosystem
GCR actively collaborates with government bodies, industry stakeholders, environmental organizations and different players in the Hedera ecosystem to promote sustainable practices and drive collective action. By fostering partnerships, Carbonbase contributes to the development of robust sustainability frameworks, policy advocacy, and knowledge sharing, thereby creating a positive impact on the broader sustainability ecosystem.
Equitable community engagement
The GCR roadmap includes developing mobile apps to allow for community-led auditing, to verify ground conditions, which alongside a coordinated governance mechanism can enable global input on environment change. Additional platforms for public participation can crowdsource local grievances to target inspections, bringing greater participation and equity in project development.
Standardized Metrics and Reporting
GCR can establish standardized metrics and reporting frameworks for technology-mediated carbon removal and avoidance projects. By defining common methodologies and metrics, it ensures consistency and comparability of project data. This standardization enables easier evaluation, benchmarking, and analysis of climate finance activities, making it easier to assess the effectiveness and impact of investments.
Democratization of Climate Finance
The DLT-based carbon registry has the potential to democratize climate finance by removing barriers to entry and fostering broader participation. The transparent and accessible nature of the registry allows a wider range of stakeholders, including smaller investors and organizations, to engage in climate finance activities. This increased inclusivity helps mobilize more capital towards sustainable projects and promotes a decentralized and diverse ecosystem of climate finance.
Scaling carbon market impact
GCR plays a crucial role in driving measurable carbon reductions. By accurately tracking and verifying carbon removal and avoidance projects, it ensures that the reported emissions reductions are reliable and credible. This enhances the integrity of the carbon market and contributes to the overall goal of reducing greenhouse gas emissions.
Carbonbase is proud to work with Hedera's ecosystem of partners:
