The International Carbon Registry (ICR) is focused on enhancing the carbon credit market by fostering transparency and streamlining the carbon credit supply chain to make it as efficient as possible. In ICR’s words, “We believe this can be achieved by leveraging blockchain technology and improving communication among stakeholders.”
The purpose of this KIP is to solidify the relationship between our organizations and jointly work to support credits issued via their registry across KlimaDAO’s core infrastructure, in particular the KlimaDAO retirement aggregator and Carbonmark.
New commodified carbon pools composed of projects with methodologies which currently have low representation on-chain will provide additional client choice and further position the on-chain carbon market as the premier access point for a wide variety of carbon projects with low slippage and minimal transaction fees.
KlimaDAO’s leadership in working with partners to significantly improve the diversity of digital carbon available to our partner and client network (via carbon project financing and carbon registry support) will enhance our value proposition within the DCM and wider climate finance space. This is critical for accelerating the adoption of tokenized carbon for demand-side VCM participants and ultimately scaling climate action.
ICR has stated that they “firmly believe that through our collaboration with the KlimaDAO community, we have the capacity to make meaningful strides in the Voluntary Carbon Market (VCM) and overall climate projects. This collaboration can significantly propel the advancement of the VCM.”
About the International Carbon Registry
The International Carbon Registry (ICR) is a comprehensive GHG program and a climate registry solution relying on web 3 technology (deployed on the Polygon blockchain) offering a range of tools to help to manage climate projects. The ICR serves as a platform for climate projects of any size where environmental integrity is promoted with credibility, consistency, and transparency of quantification, monitoring, reporting, validation, and verification.
Partnership & Actions
Collaboration is crucial when it comes to addressing climate change. This opportunity presents the first official partnership arrangement between a blockchain-based registry and market infrastructure provider. The partnership will require technical teams at ICR and KlimaDAO to build out interoperability between their systems and set a precedent for data and process standardization re. digital carbon transfers and accounting.
Two primary workstreams will begin should this KIP move forward and be ratified via Snapshot voting:
1) KlimaDAO retirement aggregator support for retiring ICR-issued credits.
2) Carbonmark support for listing ICR-issued credits.
Additionally, two secondary workstreams are currently being evaluated and would extend collaborative activities after the primary activities are completed:
3) Data & Process standardization between ICR and KlimaDAO systems (e.g. including ICR credits in KlimaDAO’s Subgraphs and Carbon Dashboard).
4) Feasibility study for listing ex-ante ICR-issued credits on Carbonmark.
NOTE: this KIP does not grant permission for the KlimaDAO treasury to bond or provide liquidity for ICR-issued credits. Such integrations would require a subsequent KIP.