On the 2023 UN Local weather Change Convention (COP28), Envision Blockchain showcased new emissions monitoring and carbon credit score platforms using blockchain and artificial intelligence expertise.
The corporate mentioned these platforms include upgraded options for looking out methodologies, evaluating undertaking information, and aligning with reporting requirements—with the said targets of accelerating transparency and enabling development in voluntary carbon markets.
Key figures like Massamba Thioye from the UN Local weather Change Secretariat praised the initiative and mentioned the UN “acknowledges the very important significance of progressive Web3 options” in attaining sustainability targets.
He added:
“The current enhancements to the open supply Hedera Guardian and the Managed Guardian Service (MGS), exemplify a big step in the direction of streamlining and digitizing local weather change mitigation methodologies.”
Digitizing the carbon market
Envision focuses on 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 deliver extra effectivity, transparency, and development 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 tasks.
AI-guided search
The search-related options improve the usability of the platforms by permitting customers to effectively search by way of huge libraries of environmental methodologies, such because the United Nations Framework Conference on Local weather Change’s (UNFCCC) Clear Improvement Mechanism (CDM) Methodology library.
AI helps filter and current probably the most related methodologies based mostly on person queries, making the method of figuring out applicable methodologies for carbon credit score tasks extra environment friendly.
Moreover, the introduction of a brand new Venture Knowledge Comparability characteristic permits for more practical evaluation of undertaking information, tackling points corresponding to double counting and elevating transparency. This new characteristic allows customers to match information recorded as Verifiable Credentials (VCs). VCs are digital certificates containing validated details about environmental tasks.
One other essential improvement was the combination of the International 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 information, making it simpler for varied stakeholders within the carbon market to align on widespread requirements and practices.
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