- Hedera Hashgraph technology powers Envision Blockchain’s new emissions tracking and carbon credit platforms to bring efficiency and transparency to the voluntary carbon market.
- The platforms include digitization of carbon credits, AI-guided search features, project data comparison, and integration of reporting standards like dMRV.
- Showcasing at COP28 highlights blockchain solutions’ importance in achieving sustainability goals by transforming carbon credit management.
Hedera Hashgraph is providing the underlying technology for Envision Blockchain’s new emissions tracking and carbon credit platforms. These platforms were recently showcased at the 2023 UN Climate Change Conference and aim to bring more efficiency, transparency, and growth to the voluntary carbon market.
Digitizing the Carbon Market
Envision Blockchain has introduced a Managed Guardian Service (MGS) built on Hedera Hashgraph (HBAR) technology. This service simplifies the process of creating and managing digital environmental assets like carbon credits. The goal is to transform carbon credit management through digitization.
The new platforms include AI-powered search features. These features allow users to efficiently search through libraries of environmental methodologies like the UNFCCC’s Clean Development Mechanism. AI helps filter and present the most relevant methodologies based on user queries. This makes identifying appropriate methodologies for carbon credit projects more efficient.
Project Data Comparison
A new Project Data Comparison feature enables more effective analysis of project data. This tackles issues like double counting and increases transparency. Users can compare data recorded as Verifiable Credentials, which are digital certificates containing validated project information.
Integration of Digital Reporting Standards
The platforms also integrate the Global Blockchain Business Council’s dMRV Specification, which standardizes digital reporting and verification of carbon data. This integration aligns standards and practices between various carbon market stakeholders.
Overall, Hedera Hashgraph’s technology is powering innovative new platforms for emissions tracking and carbon credit management. By digitizing carbon credits and enabling transparency, these platforms aim to accelerate growth in voluntary carbon markets. Their showcasing at COP28 highlights the importance of blockchain solutions in achieving sustainability goals.