We need to step up and do our part.
Transparency & Accountability
Concepts such as carbon neutral, net zero, and climate positive have become popular buzzwords in recent years, but these fancy terms are more often used in greenwashing than enacting actual change. This has led to soaring carbon emissions instead of the reverse, due to a “burn now, pay later” attitude.
We’re here to shine the light on meaningful actions that produce measurable, verifiable, and lasting reductions in carbon emissions, as opposed to misleading “feel-good” measures. In line with that, DefiClimate addresses the following critical issues in the carbon credit marketplace by leveraging Web 3.0 technologies to prevent fraud and counterfeit.
Accredited & Verifiable Carbon Credits
Our transparent, public, and permanent ledger records all carbon offset transactions from inception to utilization, which allows you to KYC: Know Your Carbon.
Rigorous Auditing Processes
External Auditing: DefiClimate is ISO 9001 certified, ensuring that all operations adhere to a high standard of quality and trust.
Standards-Based Auditing: DefiClimate strives to meet or exceed industry best practices and government requirements.
Crowdsourced Auditing: All DefiClimate projects go through a public peer review process, making projects meaningful and impactful.
A Transparent and Fair Marketplace
KYC: Know Your Carbon
Using the blockchain, our public ledger records all transactions from the moment a carbon offset is generated to the point it is sold. This allows you to Know Your Carbon, i.e. track its history and entire journey from the marketplace to its eventual sale. This prevents double counting of carbon offsets and ensures that each carbon credit is limited to a single use.
Web 3.0 Technologies
Our carbon offsetting exchange, DecarbEx, is built on Decentralized Finance (DeFi) technology, which facilitates instant, transparent, and irreversible financial transactions around the world without any intermediaries.
Suppliers looking to sell large volume carbon offsets will be able to get their carbon offsets certified, monitor their use, have access to public and permanent financial records, and be able to present the entire transaction history in a clear audit trail for regulatory authorities and auditors.
Carbon Credit Quality Grading
DefiClimate offers a range of carbon offsets graded by quality, verifiability, and impact (AAA, A, B, and C). AAA and A are the top-rated carbon offsets, catering to the needs of organizations with large carbon footprints (e.g. Oil & Gas and Aviation companies), while B & C are lower grade and more relevant for individuals with relatively low carbon footprints. This graded system, coupled with complete transparency on each carbon offset’s history, allows buyers to choose the right grade of carbon offset that meets their personal or business needs.
A Low-Carbon Cryptocurrency
Carboreum: A Proof of Impact Coin
Carboreum – DefiClimate’s low-carbon cryptocurrency – is generated via a Proof of Impact (PoI) algorithm using real-life green activities that reduce carbon emissions, instead of energy-intensive computation tasks for the Proof of Work (PoW) algorithm used by Bitcoin and Ethereum.