Check out the interview with IETA and the WB announcing their joint work in Singapore to further improve the transparency and environmental integrity of carbon credit transactions through the launch of The Climate Action Data (CAT) Trust.
Check out the interview with IETA and the WB announcing their joint work in Singapore to further improve the transparency and environmental integrity of carbon credit transactions through the launch of The Climate Action Data (CAT) Trust.
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Exploring the Potential of Emerging Technologies for Connecting Climate Markets-background

Exploring the Potential of Emerging Technologies for Connecting Climate Markets

Climate Action Data (CAD) Trust
Climate Action Data (CAD) Trust icon

Climate Action Data (CAD) Trust

The Climate Action Data (CAD) Trust (formerly known as Climate Warehouse) is a global public meta-data layer empowering a new global carbon market infrastructure through a decentralized information technology platform built on blockchain technology. It aims to mobilise climate action toward the Paris Agreement’s objectives by enhancing transparency and environmental integrity of carbon credit transactions and international carbon markets.

Demonstrating the use of new technologies and infrastructure to track MOs and avoid double counting

Purpose

Implementation

Usage

Current Involvement

Invitation to Collaborate

Climate Warehouse Simulation 1

Carbon Pricing and International Carbon Markets: Mitigation Action Protocol-thumbnail
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Summary Report.

Simulation I - Connecting Climate Market Systems

The Paris Agreement introduced a bottom-up approach for addressing climate change by enabling countries to pledge individual commitments through nationally determined contributions (NDCs). Furthermore, Article 6 of the Paris Agreement recognizes that Parties may engage in bilateral cooperative approaches, including through the use of internationally transferred mitigation outcomes (ITMOs), to achieve their NDCs. In the first phase, the project identified potential prerequisites and requirements of Article 6.2 and conducted a pilot simulation of a prototype to test blockchain's utility as the underpinning platform technology to connect heterogeneous registries to track units and avoid double counting issues across those registries.

Webinar: Emerging Digital Technologies for Post-2020 Climate Markets

Recorded December 5, 2022

Climate Warehouse Simulation 2

Demo: Climate Warehouse Simulation II-thumbnail
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Final Report

Simulation II – Connecting Climate Market Systems

The second phase of the Climate Action Data (CAD) Trust prototype development, which built on lessons learned from the simulation phase I, focused on testing the meta-data layer infrastructure with updated data fields. One of new features of the second phase prototype is the provision of an auxiliary application which mimics the minimum functions of a registry and thereby enables participation by country participants that currently do not have a registry. The second simulation involved broader participation, establishing 16 registry nodes and over 20 observer nodes.

Climate Warehouse Simulation 3

Climate Warehouse Simulation 3 icon
Check the Public Observer Node by clicking the title below.

Simulation III – Connecting Climate Market Systems

The third phase of the Climate Action Data (CAD) trust prototype development, which builds on the lessons learned and findings from Simulation II, aimed to test the Climate Action Data (CAD) trust on an open source, interoperable and permissionless public blockchain platform, and develop a minimum viable product to operationalize the Climate Action Data (CAD) trust consistent with the recommendations from the 6-month consultation on the governance and financing model of the Climate Action Data (CAD) trust that was completed in February 2022. The consultation was co-convened by the International Emissions Trading Association, the Government of Singapore and the World Bank.