Coorest looks like a hugely innovative project, and bringing cutting-edge dMRV tech to a blockchain-native carbon token is a really welcome development. The partnership with Etherisc is also really promising. Clearly, if you guys get this right this will be a big step forward for the Digital Carbon Market.
Your answers to the questions the KlimaDAO community have asked above are thoughtful and impressive. However, as others have touched on above, I don’t really see the logic behind the price being benchmarked in any way to the EU ETS. Of course, a listing on Carbonmark will allow price discovery but I would like to see the starting point more thoroughly justified than has been the case so far. As a compliance market under the control of the European Parliament, the EU ETS is a completely different animal to the VCM – the pricing of carbon in the cap-and-trade scheme is subject to forces like the end of April compliance deadline (it’s down quite a lot now, for example, early in a new year), CBAM reforms, expansion of covered industries, number of free allowances, etc. In other words, forces that are not at play in the VCM, which, moreover, has a large range of different types of credits available – therefore creating competition between standards, projects, etc. that has no equivalent in the EU ETS. So I guess my main question is: what makes the EU ETS a reasonable point of comparison for a VCM credit based on tree planting?
Secondly, when you say the price will be EU ETS but 30% lower, how does the CCO2 price reflect changes in the EU ETS price, which is pretty volatile itself?
To be clear, this is not to say that there isn’t room for credits in the DCM priced far above UBO, NBO, BCT, NCT - and even the blue carbon currently available on Carbonmark for $30. And I'm pleased to see you showing flexibility on pricing in your answer To MarcusAurelius above about your onboarded projects having a say. But, naturally, any proposed listing surely stands more chance of being a success if it is priced reasonably from day one. Unfortunately, I think there is a real risk that CCO2 would sit on the shelf for some time before the price needed to be lowered to find a market if the approach of 70% of EU ETS pricing is chosen.