OpenClimate is an open source and digitally integrated climate accounting system designed to help the world achieve the emission reduction targets set in the Paris Agreement. Its purpose is to remove frictions in climate accounting, by working towards interoperability between different standards, reducing double counting and catalyzing coordination towards climate goals.
Countries are often disincentivized to be fully transparent on their carbon accounting, particularly when economic opportunities are linked with higher emission practices. Or they simply do not have enough capacities. This lack of transparency/accountability has eroded trust in the political climate ecosystem.
Cities, provinces and regions (i.e., subnational actors), as well as business, investors and civil society (i.e., non-state actors) are increasingly recognized for their ability to catalyze climate actions.
Consolidating a climate accounting system that can combine state and non-state actor climate actions is essential to the success of the Paris Agreement and the coordination and governance of climate action.
Existing measurement, reporting and verification (MRV) systems to track climate action —both from state and NSAs— are labor-intensive, fragmented and slow.
The rise and maturity of blockchain, paired with other emerging digital technologies such as IoT sensors, big data and artificial intelligence can provide opportunities for existing and new climate platforms to scale, streamline and incentivize data collection, climate action certification (i.e. MRV), and accounting and trading of climate certificates.
OpenClimate is an interoperable network of nested climate accounting using decentralized identifiers (DIDs) and verifiable credentials (VCs) that aggregates climate accounting data across various actor levels.
Climate data from IoT devices tagged with geospatial information create the basis for a nested accounting framework in which local data flows up to the jurisdiction that contains it, to the country and international levels.
We are designing the system to provide general transparency alongside individual data privacy, prevention of double counting in the digital certification and trading of climate actions, and contractual automation of rules and mechanisms with financial nature.
#Promotes harmonization and interoperability of climate data, for more effective prevention of double counting.
# Reduce the amount of resources and time needed to integrate with other partners in the Solar Fintech ecosystem, through a single integration into the Open Solar Network.
#Links data transparently from local level to country and international level while preserving individual data privacy.
#Promotes harmonization and interoperability of climate data, for more effective prevention of double counting.
#Allows for trusted interactions through the use of verified credentials for climate actions.
#Simplifies climate data aggregation through the integration of platforms and IoT devices.
