On the 2023 UN Local weather Change Convention (COP28), Envision Blockchain showcased new emissions monitoring and carbon credit score platforms using blockchain and synthetic intelligence expertise.
The corporate stated these platforms comprise upgraded options for looking methodologies, evaluating venture knowledge, and aligning with reporting requirements—with the said targets of accelerating transparency and enabling progress in voluntary carbon markets.
Key figures like Massamba Thioye from the UN Local weather Change Secretariat praised the initiative and stated the UN “acknowledges the important significance of revolutionary Web3 options” in attaining sustainability targets.
He added:
“The latest enhancements to the open supply Hedera Guardian and the Managed Guardian Service (MGS), exemplify a big step in direction of streamlining and digitizing local weather change mitigation methodologies.”
Digitizing the carbon market
Envision makes a speciality of methods for digitizing carbon credit and enabling transparency in emissions monitoring. Particularly, Envision Blockchain has launched a Managed Guardian Service (MGS) constructed on Hedera Hashgraph (HBAR) expertise to simplify creating and managing digital environmental belongings like carbon credit. This service goals to convey extra effectivity, transparency, and progress to the voluntary carbon market.
The improvements featured at COP28 have enhanced options like digitized UNFCCC methodologies that standardize how emissions reductions are calculated for carbon credit score initiatives.
AI-guided search
The search-related options improve the usability of the platforms by permitting customers to effectively search via huge libraries of environmental methodologies, such because the United Nations Framework Conference on Local weather Change’s (UNFCCC) Clear Growth Mechanism (CDM) Methodology library.
AI helps filter and current probably the most related methodologies primarily based on person queries, making the method of figuring out applicable methodologies for carbon credit score initiatives extra environment friendly.
Moreover, the introduction of a brand new Challenge Knowledge Comparability characteristic permits for more practical evaluation of venture knowledge, tackling points akin to double counting and elevating transparency. This new characteristic allows customers to check knowledge recorded as Verifiable Credentials (VCs). VCs are digital certificates containing validated details about environmental initiatives.
One other essential improvement was the combination of the World Blockchain Enterprise Council’s (GBBC) dMRV Specification into the Guardian platforms. The GBBC’s dMRV Specification lays out requirements for digital reporting and verification of carbon knowledge, making it simpler for numerous stakeholders within the carbon market to align on frequent requirements and practices.
