Undo | Web3Carbon Week #40
+ Ethereum undoes historic carbon emissions
+ New Kuoka.earth feature: Most popular ReFi blockchains
+ News from 14 web3carbon projects
+ Cliffhanger of the week
+ 6 Newly added projects to the Kuoka repository
+ 15 1min-pitches by ReFi founders
Ethereum to Undo Historic Carbon Emissions
At COP27, A large group of tech companies led by ConsenSys announced to eliminate/undo Ethereum's pre-Merge carbon emissions. The Ethereum Climate Platform addresses Ethereum's historic proof-of-work emissions. Between 2015 until the Merge in September 2022, Ethereum’s energy consumption emitted an estimated amount of 18.1MtCO2.
The announcement comes 2 months after the transition from proof of work (PoS) to proof of stake (PoS) (see newsletter #33 ). The Merge reduced Ethereum's energy consumption by 99.992%.
Watch the announcement at UN Climate Change Global Innovation Hub (COP27):
New Kuoka.earth Feature: Polygon Remains Most Popular Chain in ReFi
I have added a new feature to kuoka.earth that counts the number of active web3carbon projects per blockchain technology. Polygon is still in the lead, followed by Celo and Ethereum. Currently there are also active web3carbon projects on Polkadot, Hedera Hashgraph, Near, Regen/Cosmos, Algorand, Solana, Tezos, Cardano, Binance Smart Chain, Ripple, Filecoin, Dfinity.
Find the full list here: Most Popular Blockchains / Web3 Ecosystems for Carbon ReFi Projects
Web3Carbon Project Updates
Kuoka.earth tracks the progress of the 100 most promising Web3Carbon projects:
⚡Energy Web (Operating Systems for Energy Grids)
RMI and Energy Web Foundation announced that they will build a digital registry for sustainable aviation fuel (SAF) certificates with goal of increasing transparency to emissions reduction claims about air travel.
Verra, operator of the largest registry of greenhouse gas crediting, and climate-tech company Pachama are going to pilot a DMRV (digital measuring, reporting, and verification) platform. The platform will remote-sense and measure forest carbon.
🍧KlimaDAO (Carbon Reserve Currency)
KlimaDAO published a new and longer response to ☑️Verra's Public Consultation. The article extends the DAO’s legal and technical suggestions on how to tackle Verra’s key concerns around KYC and other issues when tokenizing carbon credits.
🌲Open Forest Protocol (MRV for Forestation)
OFP Co-founder Michael Kelly helps to better understand how measurement, reporting and verification with OFP works by breaking down the protocol in a new video.
🍏Bitgreen (Sustainable Blockchain)
Bitgreen went live on Rococo, Polkadot's parachain testnet
👩Ecosapiens (Carbon-backed NFT Project)
Ecosapiens launched the greenlist process. Community members, who complete certain tasks, can earn a mint pass
✳️Menthol Protocol (Offset any Transaction)
Menthol Protocol adds KYC (know your customer) and AML using the tech of decentralized platform Astra.
♒Shamba (D-MRV Oracle)
Shamba has integrated Chainlink’s oracle technology to expand its services to chains like Arbitrum, Avalanche, Ethereum, Optimism, and Polygon.
Kennedy Ng'ang'a, founder of Shamba wrote a guest article in 🐣 Toucan’s blog ReFi for the global south "An emergent movement“.
👛Climatecoin (Carbon Asset Investments)
Climatecoin has announced an alliance with Carbono Blanco, a natural carbon burial system in ocean deposits.
🌵Clime Tech (Carbonbank as-a-Service)
🌃Evercity (Green debt and carbon origination platform)
Evercity, a Berlin-based green debt and carbon origination platform, announced to utilise Hedera to create new instruments for green debt and carbon markets.
…Some FTX Cope
🐣Toucan's Ela Khoday had a piece this week "Why the FTX debacle proves that DeFi (and ReFi) are the future". Also 👕Week in ReFi has a FTX deep dive in this week’s Episode 25
…Cliffhanger of the Week
🌎Solid.World DAO announced "One of the biggest carbon prop trading desks has confirmed to be our LP". No name was revealed.
🥦RefiDAO interviewed Ryan Panchadsaram. Panchadsaram is co-author of Speed & Scale. A book he wrote together with famous venture investor John Doerr. The book proposes one of the most comprehensive and ambitious entrepreneurial frameworks to tackle climate change mitigation.
The framework differentiates 10 separate objectives and 55 associated key results to avoid climate disaster, all of which can be explored in the new speed&scale tracker (spoiler, we are not on track). At 35:36 into the podcast, Ryan also gives his view on how web3 fits into the Speed&Scale framework.
New Funding Rounds
0️⃣BeZero (VCM Ratings Agency)
BeZero, which provide rating for carbon credits (i.e on 🕳️ Senken), announced a $50m investment round
👩💻Thallo (Carbon Credit Exchange)
Thallo Closes $2.5M seed investment round led by Arcan LLC and Friendly Trading Group 2. According to Thallo the round was oversubscribed.
Newly Added Projects to the Kuoka Repository:
🌃Evercity (Green debt and carbon origination platform)
📔Covalent (Blockchain-based infrastructure for carbon removal)
🏚️Stabiliti (Ecosystem for carbon)
👥Carbon Crowd (Decarbonizing cloud computing)
🎥Climafi (Carbon credits)
🌷Flori Ventures (Funding Crypto/Impact)
1Min Pitches by 15 ReFi Founders
🌷Flori Ventures, which is funding crypto/impact projects, hosted a Web3 x Climate Showcase with 15 ReFi projects looking for investors. Some projects are more advanced, some are still very early stage.
Click on the minutes link to jump directly to the 1min pitches:
57:21: Stenver from 🌎Solid.World DAO (Derisking Forward Carbon)
58:32: Helena from 🍥Spirals Protocol (Climate Impact Staking)
8:28: Frederick from 📗Greentrade (Carbon Marketplace)
1:18:45: 📔Covalent (Blockchain-based infrastructure for carbon removal)
23:00: ▶️Carbonpath (Shut down gas wells)