DLT Earth

Crypto News Flash: Hedera-Backed DLT Earth Initiative Standardizes Climate Markets Reflecting 500 Million Tons of Carbon

By:
Collin Brown
September 28, 2023

Climate Markets Standardization: The Forefront of Change

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The DLT Science Foundation (DSF), in partnership with The HBAR Foundation Sustainable Impact Fund, ALLCOT, and Envision Blockchain, has launched DLT Earth. This venture is a global grant program focused on fortifying the reporting and methodologies instrumental in tracking and mitigating climate change. By channeling the capabilities of Hedera Guardian, this initiative is poised to unlock a new realm of transparency in climate markets.

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DLT Earth, over the forthcoming months, will orchestrate a slew of initiatives with its partners. The focus is to bolster the quality and reliability of sustainable finance, climate project methodologies, sustainability markets, and ESG reporting initiatives.

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To set this ambitious wheel in motion, the DSF is slated to spearhead an open hackathon. This event will foster the digitization of sustainability methodologies alongside the formulation of policies that bolster Digital Measurement, Reporting, and Verification (dMRV). Moreover, DSF has earmarked funds for five fellowships in the Global South, channelling support towards cutting-edge research in sustainability and climate projects. These fellowships resonate with the objectives of the HBAR Foundation Sustainable Impact Fund, which aspires to translate the planet’s balance sheet into a public ledger. The ultimate aim includes:

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  • Enhancing the auditability of climate finance
  • Digitizing and open-sourcing methodologies
  • Amplifying validation and verification
  • Discovering a global climate asset price
  • Elevating the credibility of ESG reporting

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The Hedera Ecosystem: An Enabler of Transparent Climate Action

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Within the Hedera ecosystem, an array of partners and digital public goods have come together, supported by the Sustainable Impact Fund and the Hashgraph Association Innovation and Enterprise Programs. Notable entities like Evercity, Envision Blockchain, and Tolam Earth have also pledged their participation in this transformative venture.

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The essence of this initiative is to metamorphose the existing climate markets infrastructure, rendering it more transparent, auditable, and verifiable. As the global panel of scientific and climate maestros embarks on reviewing research outputs, the digitized policies and methodologies are expected to make substantial inroads in over a hundred carbon credit, biodiversity, and other climate projects. This collective endeavor is forecasted to generate nearly 500 million tonnes of carbon credits, managed by ALLCOT, thereby making a remarkable impact on 200 communities across the globe.

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The alignment of financial and ecological audit trails on the Hedera Guardian, an open-source platform, is a monumental stride towards credible ESG reporting. This platform, embodying auditable, traceable, and reproducible records for digital environmental assets, is the cornerstone for engaging with credible global projects to augment climate action.

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With DLT Earth at the helm, alongside a consortium of partners, the quest for transparent, verifiable, and effective climate action is not a distant dream but an attainable reality. Through this initiative, the seemingly elusive goal of harmonizing financial imperatives with ecological commitments is now within grasp, heralding a new dawn in climate action and sustainable finance.

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