This is a video of the Emissions Tokens Network we’ve discussed on the Hyperledger wiki:
On this network, there are 4 types of participants: emissions auditors, carbon offsets dealers, renewable energy certificate (REC) dealers, and consumers. The consumers here can be individuals, companies, or building owners. The network allows auditors and dealers to issue Ethereum tokens to consumers, who would hold tokens of emissions and offsets in their wallets. Then they could trade those tokens or retire them to offset their audited emissions.
For example, in the video, an emissions auditor issued tokens to a consumer based on the results of an emissions audit. These tokens cannot be transferred by the consumer to anyone else.
Then, an offsets dealer issued tokens for a carbon emissions offset from a forestry project to the same consumer. This could’ve happened when the consumer bought offsets from the dealer’s offset project, or a project marketed or certified by the dealer. The meta data of the token records the details of the offset, such as the type of project, when it was issued, and how it was certified.
The consumer then transferred some of these offset tokens to a second consumer before retiring the tokens. The retired tokens then counted towards reducing the consumer’s net emissions.
This simple demo shows how such a network could be put together to form a full-featured trading network for carbon emissions and offsets. Such a network would in turn serve as the centerpiece of our plan for an operating system for climate action.
If you want to see how we built a dApp like this, click here for the tutorial.
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