More climate startups choose Web3’s first carbon-negative, PoS blockchain during Climate Week NYC
NEW YORK, September 23, 2022--(BUSINESS WIRE)--Carbon Title, the first decentralized platform designed to bring radical transparency to decarbonization efforts within the real estate industry; Thallo, which is building a decentralized marketplace for voluntary carbon credits, and CRED, a protocol built around retired carbon credits, partner with the carbon-negative, proof-of-stake (PoS) Celo platform.
As the home of regenerative finance (ReFi), Celo continues to be the layer-1 choice of founders and builders developing climate and community-focused solutions that utilize Web3 technology. This ReFi movement on Celo also continues to receive support from one of its earliest climate partners, the Climate Collective, a coalition of companies collaboratively building at the intersection of Web3 and climate action.
"The world’s mass-coordination problems, including the climate crisis, require Web3’s mass-coordination tools in order to meet the UN’s Sustainable Development Goals of reaching net-zero global carbon dioxide emissions by 2050," says Rene Reinsberg, Celo co-founder and Celo Foundation president.
Carbon Title empowers commercial contractors, developers, and property owners to estimate and neutralize their carbon impact in a simple and cost-effective way. The platform's blockchain-enabled registry will provide transparency for the public to verify a building's carbon claims, accelerating decarbonization of the real estate industry, which is responsible for 38% of greenhouse gas emissions globally. Tokenized carbon credits can be purchased and retired, eliminating greenwashing by enforcing traceability of these unique assets tied to the building.
"An important part of our model is to provide transparency for the carbon intensity of buildings by making the information available on the blockchain," says Carbon Title co-founder Miles Haladay. "Celo not only provides a compatible proof-of-stake network, but also shares our mission to enable industry to meet its decarbonization goals."
CRED Protocol will provide certificates of retirement for on-chain carbon offsets on the Celo blockchain as ecosystem partners, including Toucan Protocol, support this functionality. These certificates will serve as proof-of-retirements to be used across interoperable applications, facilitating an ecosystem of dapps that ensure more verifiable climate impact. "We are excited to be launching on Celo in the immediate future and joining Celo’s vibrant ReFi ecosystem," says CRED founder Max Song.
Thallo’s mission is to aggregate Voluntary Carbon Markets (VCMs) into a single exchange on Web3, utilizing a first-of-kind two-way bridge with existing registries. The platform’s unique tokenomics rewards high-quality credits through a cyclical royalty program, ensuring on-the-ground project developers benefit from advances in carbon markets. Thallo’s unique approach will expand Celo’s vibrant tokenized carbon credit ecosystem and help the Climate Collective build trust and liquidity in on-chain carbon markets.
"Since the beginning of the ReFi movement, Celo has pioneered innovation, supported developers and driven market-level change. We’re now beginning to see ReFi evolve from ‘the next big thing in Web3’ to a mainstream approach to delivering climate impact at scale. Celo has been one of the key organizations driving this evolution and Thallo is honored to be building the on-chain future," says Thallo co-founder Joseph Hargreaves.
About the Celo Foundation
The Celo Foundation was founded in 2017 to support the growth and development of the decentralized, open source, mobile-first Celo platform to help build a carbon-negative financial system that creates the conditions of prosperity for all. The Foundation is guided by the Celo community tenets and contributes to education, technical research, environmental health, community engagement, and ecosystem outreach—activities that support and encourage an inclusive financial system. For more about Celo, visit https://celo.org/.
About Carbon Title
Based in Portland, OR, and founded in 2021 by Miles Haladay and Trevor Dryer, Carbon Title is the first decentralized platform bringing radical transparency to decarbonizing the real estate sector. Built to meet the demand for climate action, Carbon Title delivers an end-to-end solution making it easier, more attractive, and even more profitable to make every building carbon neutral.
Created by veteran blockchain entrepreneurs and climate tech professionals, Thallo uses blockchain technology to revolutionize and democratize the way individuals and businesses buy, sell and trade carbon offsets. Follow Thallo on Twitter and LinkedIn or join their Telegram group for updates. For more information, visit www.thallo.io.
CRED (Carbon Reward Dollars) is the first web3 rewards program for corporate and individual carbon neutrality. CRED is creating exciting NFT, web3, and IRL utility for every dollar spent on carbon removal.
About the Climate Collective
Launched in October 2021, the Climate Collective is an expanding coalition of companies collaboratively building at the intersection of web3 and climate action. Through grant funding, member partnerships, and community education, they support a range of impactful products and interoperable protocols that progress the Regenerative Finance ("ReFi") ecosystem. The Collective’s mission is to accelerate climate-positive applications using Celo’s carbon-negative blockchain, and foster a diverse community rallied around a shared mission of building a regenerative economy.
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