Accounting and Transparency

The current state of carbon accounting is a mess. There are many different systems in use around the world, each with its own data standards and definitions. The result is that it’s difficult to establish a single source of truth for carbon accounting.

This means that companies and stakeholders can't trust their numbers or make informed decisions about how to reduce emissions. It also makes it difficult for buyers to understand where their money is going and what impact they're having on the environment.

A blockchain-based solution would allow us to create a global standard for tracking all forms of carbon offsets. This system could be used by individuals and companies to report their emissions as well as by buyers looking to support sustainable projects.

Another advantage of using a tokenized carbon offset is that it’s much easier to account for than a certificate or other traditional asset used in the industry today. Tokens are public records, so they can be tracked on a blockchain through their origin.

Because tokens are simply data files stored on a distributed ledger, they can be audited by anyone at any time. This level of transparency makes it easy to keep books and report on where your company’s carbon offsets come from.

Beyond tracking carbon offset tokens themselves, anyone can easily track maximum allowable supply, real-time circulating supply, and retired inventories. By bringing transparency to the supply chain, we can ensure our offset supply matches our demand and we don’t oversell the market. Further, because we benefit from low fees on sustainable ledgers, there is no additional cost for this level of transparency.