Hedera Hashgraph’s technology supports Envision Blockchain’s efforts to transform carbon credit management with the support of the United Nations.

At the 2023 United Nations Climate Change Conference (COP28), Envision Blockchain demonstrated a new emissions tracking and carbon credit platform that uses blockchain and artificial intelligence technologies.

The platforms contain search methodologies, comparative project data and upgrade capabilities aligned with reporting standards, with the stated goal of increasing transparency and fostering growth in voluntary carbon markets, the company said.

Key figures such as Massamba Thioye of the UN Climate Change Secretariat praised the move, saying that the UN “recognizes that innovative Web3 solutions are critical to achieving the Sustainable Development Goals.”

He preached:

“Recent enhancements to the open source Hedera Guardian and Managed Guardian Service (MGS) represent an important step toward simplifying and digitizing approaches to climate change mitigation.”

Digitalization of the carbon market

Envision Energy focuses on carbon credit digitization and emissions tracking transparency technology. Specifically, Envision Blockchain launched the Managed Guardianship Service (MGS) based on Hedera Hashgraph (HBAR) technology to simplify the creation and management of digital environmental assets such as carbon credits. The service aims to improve the efficiency, transparency and growth of the voluntary carbon market.

Innovations at COP28 enhanced capabilities such as the digitized UNFCCC methodology, which standardizes how emissions reductions from carbon credit projects are calculated.

AI-guided search

Search-related features enhance the usability of the platform by allowing users to efficiently search large environmental methodologies repositories, such as the United Nations Framework Convention on Climate Change (UNFCCC) Clean Development Mechanism (CDM) methodologies repository.

AI helps filter and present the most relevant methodologies based on user queries, making the process of determining the appropriate methodology for carbon credit projects more efficient.

In addition, the introduction of a new project data comparison feature allows for more efficient analysis of project data, addressing issues such as double counting and improving transparency. This new feature enables users to compare data recorded as a Verifiable Credential (VC). A VC is a digital certificate containing verified information about an environmental project.

Another important development is the integration of the Global Blockchain Business Council’s (GBBC) dMRV specification into the Guardian platform. The GBBC’s dMRV specification sets the standard for digital reporting and verification of carbon data, making it easier for the various stakeholders in the carbon market to align on common standards and practices. #阿联酋  #环境资产管理