►
From YouTube: Baseline Show - India
Description
Official office hours for the Baseline Protocol for the Indian community.
Guest: Archit Srivastava
Hosted By: Samrat Kishor
A
B
Hey
everyone
hi
archit,
hi
hi.
This
is
sumrat
once
again,
I
welcome
to
and
I'm
the
co-chair
of
baseline
protocol.
I
welcome
you
all
to
another
episode
of
the
baseline
show
in
india.
We
do
this
every
saturday
at
6
pm.
This
is
the
official
office
hours
for
baseline
community
in
india
and
abroad.
People
from
southeast
asia
have
been
joining
in
already,
so
I'm
glad
welcome
you
guys
from
singapore
malaysia,
I've
been
getting
messages
as
well.
B
Thank
you
so
much
for
joining
in
today
we
have
our
our
guest
who's.
A
second
time
guest
on
the
baseline,
show
architecture
he's
the
director
of
strategic
sales
with
earthwood
private
limited
he's
one
of
the
champions
that
I
know
in
the
climate
economy,
in
the
carbon
economy,
and
today
we
are
going
to
be
talking
about
some
really
interesting
things
which
he's
come
across
in
the
very
recently
concluded
cop
26
summit
in
glasgow
and
today
joins
us
from
london
in
uk,
where
they've
recently
launched
their
new
office.
B
So
congratulations
archit
all
power
to
you
tell
us
more
about
what's
going
on.
First,
let's
start
with
london,
you
know
how's
london
how's,
the
experience
of
setting
up
business
in
london.
Thank.
A
You
thank
you
simrad,
for
your
kind
words
and
the
introduction
and
and
yeah
london
is
cold
as
always
gloomy,
as
always
nothing
new
here
and
yeah.
I'm
so
setting
up
here
is,
you
know
quite
exciting
for
us,
because
lots
of
our
clients
are
based
out
of
the
uk
and
a
bunch
of
them
in
the
european
union
as
well.
So
this
gives
us
just
a
little
bit
more
of
a
strategic
edge
and
you
know
being.
B
A
To
your
clients
is
never
going
to
hurt
right,
so
so
after
brazil,
seoul
and
china,
we
thought
of
you
know
getting
closer
to
some
in
the
uk.
So
uk
has
also
come
up
with
their
own
emission
trading
scheme.
It's
called
uk
ets,
so
they've
got
very
specific
requirements
of
the
auditors
who
can
function
in
this
space,
so
we
are
just
getting
more
and
more
aligned
with
them.
So
yeah
looking
forward
to
this
one
but
but
setup
wise,
it
has
been
a
rather
smooth.
B
A
For
us,
this
year's
the
chartered
accountancy
in
cs,
et
cetera,
everybody
has
been
super
helpful.
B
A
Most
of
the
regulatory
requirements
are,
you
know,
fulfilled,
and
now
we
are
looking
for
some
office
spaces.
So
if
you've
got
any
suggestions
in
the
area,
so
I'll
be
happy
to
explore
them
exciting,
exciting.
B
No,
I
will.
I
will
connect
you
to
some
people.
I
know
who've
been
there
for
a
while
and
they
in
fact
just
this
morning,
I
had
a
call
with
somebody
you
know
so
yeah.
You
know
happy
to
refer
as
friends
for
people
who
are
watching
us
on
youtube
and
and
today
either
live
or
in
future.
Please
do
subscribe
to
the
baseline
protocol
youtube
channel.
B
We
do
we
make
a
lot
of
announcements
using
these
videos
and
we
host
special
guests
like
archit
every
week
on
the
baseline
show
where
we
talk
about
various
industries
just
like
climate
economy.
Today
we
pick
up
industries,
we
look
at
what
are
the
data
silos
present
in
that
industry
and
and
try
and
solve
problems
using
the
friend
protocol,
and
also
you
know
it's
it's
at
the
moment
baseline
protocol
is,
is
in
the
in
in
that
zone,
where
we're
trying
to
educate
people
and
form
people
make
more.
B
Believers
come
and
join
us
so
do
join
us
in
our
communities.
We
are
very
open.
All
of
us.
We
welcome
people
from
all
backgrounds,
so
go
to
baseline
hyphen
protocol.org.
B
You
will
get
a
section
called
get
involved,
so
click
on
get
involved
and
you'll
see
all
the
links
you
are
to
to
where
all
you
can
get
involved.
You
can
also
join
us
like
chat
slack
channel,
where
we
are
all
very
responsive,
ask
questions,
no
questions
or
dumb
questions.
Please
ask
questions
and
you
will
get
a
response
for
sure.
Okay
now
back
to
work
thanks,
so
much
arsene
for
letting
us
know-
and
you
know
it's
exciting-
that
somebody
is
setting
up
office
in
a
new
country.
B
I'm
glad
to
know
that
you
are
aligning
more
to
your
your
clients
and,
of
course
the
uk
is
involving
carbon
scene.
So
so
tell
us
a
little
more
about
glasgow.
What's
what's
what's
what's
happening
in
glasgow?
Was
it
interesting
not
interesting?
Was
it
expected
not
expected?
How
will
the
turnout.
A
Yeah
glasgow
glasgow
was
really
good.
The
world
has
been
waiting
for
a
climate
deal
to
happen
since
the
last
I
don't
know
five
years
or
something,
but
it
was
getting
delayed
and.
A
With
the
pandemic
hitting
us
last
year,
so
this
cop
was
cancelled
and
it
was
supposed
to
happen
last
year
and
now.
Finally,
there
is
some
good
news
that
the
global
leaders
have
come
together
and
actually
agreed
on
something
which
they
want
to
do.
It
has
come
up
with
its
own
set
of
challenges,
but
but
yeah,
and
I'm
just
glad
that
the
the
market-based
mechanism
of
the
carbon
credits
and
the
entire
industry,
that
was
you
know
it
was
something
that
the
world
was
looking
forward
to.
A
But
now
we
have
a
path.
We
now
have
a
clear-cut
path
of
action,
and
now
it's
it's
more
up
to
the
countries
to
designate
their
offices
with
respect
to
the
paris
agreement
and
then
going
forward
lots
of
exciting
times
ahead.
So
like,
like
I
mentioned
earlier
as
well
to
you
that
there
are
two.
A
B
A
A
Such
a
jump
in
such
a
short
time
and
now
the
compliant
side
is
also
coming
back
with
respect
to
the
paris
agreement
and
the
united
nations.
So
we
have,
it
would
be
really
interesting
to
see
how
we
develop
the
new
projects,
the
new
protocols,
the
new
mechanisms,
the
countries
coming
up
with
their
own
emission
trading
schemes.
A
China
is
just
piloted
and
then
going
forward.
The
the
aviation
industry
is
also
piloting.
Its
scheme
called
corsia.
So
it's
it's.
It's
a
requirement
that
you
know
all
the
international
airlines
have
to
offset
their
emissions.
100
percent,
so
lots
lots
happening
in
this
world
lots
coming
up
and
with
the
with
the
impetus
that
we
have
now.
I
think
there
are.
You
know
a
lot
of
exciting
times
ahead.
B
So
a
lot
of
our
viewers
are
technology,
people
and
and
yeah
it's
a
mix
of
tech
and
business
people.
So
would
you
be
okay,
I
mean
we
in
the
last
episode.
We
had
you,
we
were
talking
about
esg
in
general,
but
in
but
in
this
one,
could
you
be
a
little
more
elaborate?
Would
you
just
take
five
minutes
and
elaborate
a
little
if
somebody
wanted
to
start
off
their
understanding
of
the
credits,
you
know,
why?
Is
it
really
important?
What
is
voluntary?
What
is
compliance?
B
Why
are
people
even
bothered
about
something
which
is
happening
in
glasgow?
So
can
you
just
maybe
start
from
there
give
a
little
introduction
of
you
know?
A
Okay,
so
yeah,
so
the
carbon
markets,
two
sides
to
it,
the
voluntary
and
the
compliance.
So
it's
it's
a
it's
a
clear
demand,
supply
game
and
nothing.
It's
very
simple
to
understand
that
if
you
are
having
any
activity,
in
fact,
if
you
are
going
to
the
office,
so
there
is
a
certain
amount
of
emission
that
has
happened
and
that
becomes
your
footprint
from
your
travel
from
a
to
b
or
even
if
you're,
making
coffee
at
home.
A
If
you're,
you
know
cooking
rice
at
home,
so
whatever
be
the
activity,
there
has
to
be
certain
amount
of
emissions
attached
to
it.
Now
that
that
is
the
you
know,
footprint
that
you
arrive
at
you
know
if
you
think
of
it
from
the
larger
perspective,
like
you
want
to
calculate
your
emissions
for
a
year.
So
whatever
business
travels,
you
have
done
whatever
you
know,
food
you've
eaten
whatever
clothes
you
want,
so
etc,
etc,
etc,
electricity
burnt,
etc.
So
all
this
will
be
your
carbon
footprint.
A
Now
to
offset
this,
you
require
carbon
credits.
Essentially,
I
mean-
and
there
are
other
ways
to
reduce
the
carbon
emissions
in
the
first
place,
but
whatever
is
left
over,
so
you
require
carbon
credits
to
offset
that
and
become
carbon
neutral
or
net
zero
in
the
long
term.
So,
on
the
other
hand,
this
is
one
aspect
of
it
and
on
the
other
side
there
are
you
know,
project
developers
who
are
doing
something
additionally,
extraordinary
in
terms
of
you
know,
negating
up
the
baseline.
A
I
mean
not
this
baseline,
but
with
the
baseline
of
the
emissions.
So,
for
example,
you
you
require
a
certain
amount
of
coal
to
generate
one
megawatt
of
one
megawatt
hours
of
electricity
and
that's
one
way
of
doing
it.
The
other
one
is
to
install
solar
panels,
let's
say
so,
then
you
are
generating
the
same
amount
of
electricity,
but
only
cleaner,
because
the
emissions
have
not
happened
as
much
as
they
would
have,
while
burning
so
much
of
coal,
so
that
project
developer
is
entitled
to
claim
carbon
credits
from
various
mechanisms
like.
A
And
to
make
his
project
sustainable
and
durable
in
the
long
term
so
that
he
keeps
on
doing
more
projects.
So
he
sells
these
carbon
credits
to
people
like
you
who
have
just
you
know,
driven
a
car
from
your
home
to
the
office.
So
that's
how
the
demand
in
the
supply
gets
matched
and
that's
how
everything
is
functioning
in
this
in
this
carbon
industry
and
two
ways
to
look
at
it.
The
compliance
side
is
more
on
the
countries
like
the
signatories
of
the
paris
agreement.
A
So
there
are
approximately
200
countries
who
have
signed
up
for
this
paris
agreement
protocol,
and
then
there
are
individuals
and
companies
like
apple
google,
microsoft,
gucci,
veramona,
etc.
So
these
guys
have
taken
up
carbon
neutrality
targets
for
themselves,
especially
after
the
power
shift
in
the
us,
so
all
the
majors
over
there,
in
fact
the
oil
and
gas
ones.
They
have
also
picked
up
targets
for
themselves
to
become
carbon
neutral
by
2030,
35,
40,
50,
etc,
and
eventually
go
on
to
you
know,
claiming
net
zero.
A
Interestingly,
microsoft
has
done
something
amazing
because
you
can
calculate
your
emissions
for
the
last
five
years.
Seven
years,
ten
years,
twenty
years,
but
they
have
gone
a
step
ahead
and
they
have
said
that
we
will
not
only
offset
our
business
operations
carbon
emissions,
but
we
will
do
this
historically
from
the
time
that
the
inception
happened
so
yeah,
amazing
in
itself,
so
yeah,
okay,
yeah,
that's
the
that's!
The
kind
of
thought
leadership
and
ambition
is-
is
required
from
the
rest
of
the
world
as
well.
A
So
this
this
is
more
on
the
voluntary
side,
because
microsoft
does
not
have
any
compliance
on
its
head
to
offset
the
emissions
or
even
calculate
the
footprint.
But
they
are
you
know
going.
The
extra
mile
to
you
know
absolutely
nullify
all
the
emissions
historically
from
the
date
of
inception.
A
So
then
they
require
carbon
credits
again,
and
these
are
the
project
developers,
for
example,
solar
power
project
developers
or
somebody
who's
distributing
cook
stores.
For
from
you
know,
households
in
africa
or
getting
clean
water
access
to
somebody
in
you.
A
Where
you
require
to
boil
the
water
so
that
it's
drinkable,
so
if
you're,
giving
a
water
filter,
so
you
you're
not
required
to
boil
the
water
and
then
that's
again:
reduction
in
the
emissions.
So
that's
how
the
carbon
trades
are
generated
and
that's
how
the
carbon
credits
are
bought,
and
this
is
where
the
game
lies.
B
So
exciting
and
then
I
think
just
reiterating
just
dumbing
it
down,
for
you
know
my
audience,
I
think
what's
important
is
you
could
do
it
on
your
own
or
you
buy
somebody
else's
good
karma
like
that
you
could
you
could
yeah,
you
could
sponsor
a
project
and
and
good
things
happening
somewhere
else,
while
you
may
not
be
in
in
a
position
to
do
what
is
required
to
sort
of
nullify
your
so
so
you're
just
netting
off
yeah,
while
while
you
are
you're
creating
on
one
side,
you
sort
of
sponsor
projects
on
the
other
side,
maybe
other
side
of
the
world
also
right.
B
Can
be
anywhere
yeah,
absolutely
yeah
and,
and
then
and
then
so
so
one
side
is
this,
and
then
there
is
this
compliance
side,
as
you
said
that
there
are
countries
which
have
taken
up
goals
as
per
the
paris
agreement,
so
so,
let's
break
it
down
a
little.
Where
is
how
does
this
data
flow,
so
you,
you
brought
enough
absolutely
fantastic
example
of
microsoft,
which
is
you
know,
eliminating
its
lifetime
carbon
emission?
B
A
I
don't
know,
but
but
the
thing
is
as
long
as
you
have
a
paper
trail
as
long
as
you
have
some
sort
of
records
which
are
maintained
as
long
as
you
have
some
sort
of
a
system
in
place,
I
mean
most
of
these
companies
are
iso
certified
with
you
know,
9001,
qms
or
whatever,
so
it
is
mostly
the
data
is
available,
but
it
is
just
about
you
know,
comprehending
the
data
and
presenting
the
data
in
a
manner
where
it
is
actually
meaningful
and
that's
how
you
can
arrive
at
the
you
know
with
you
know
there
are
certain
emission
factors.
A
For
example,
if
you
are
burning
coal
with
respect
to
your
burning,
you
know
anything
else,
plastic
or
you
know
tire
or
whatever.
So
there
are
emission
factors
attached
to
each
of
these.
So
as
as
long
as
the
data
is
comprehensible,
you
will
be
able
to
arrive
at
the
you
know,
overall
emissions
which
are
there,
but
the
challenge
being.
In
fact,
we
were
doing
an
assignment
for
one
of
these
private
equity
firms
from
mumbai.
Even
they
wanted
to.
A
A
Because
when
you,
when
you
look
at
india
and
the
kind
of
data
records
that
were
maintained
20
years
back,
it
was
not
so
much
right.
So
that
was
one
of
the
challenges
that
our
team.
Faced,
that:
how?
How
do
we
get
the
accuracy
of
data?
And
then
how
do
we
ensure
that
this
data
is
actually
valid
and
because
you
cannot
go
back
in
time
so
much
yeah,
so
that
that
was
one
of
the
challenges
that
we
faced.
A
But
but
I
I
definitely
think
that,
with
the
help
of
technology,
you
can
probably
suggest
something
for
these.
B
Guys,
that's
exciting,
that's
exciting,
and
I
said
you
briefly
touched
upon
it.
You
know
you
know
in
just
a
couple
of
minutes
back
and
we
also
saw
some
pictures
from
our
thoughts
social
media
handles.
You
were
giving
a
presentation
recently
at
cop26.
Oh
yes,
so
tell
us
a
little
more
about
course.
I
think
I
believe
that
was
on
course
here
right.
That
was
on
course
here.
Yes,
so
tell
us
a
little
more
about
what's
garcia
and
how?
How
is
it
important
for
us.
A
So
aviation
industry
accounts
for
roughly
12
of
the
global
emissions,
which
is
huge
in
itself.
If
aviation
was
a
country,
it
would
have
been
ranked
20th
by
the
virtue
of
the
gdp
of
being
more
than
600
billion
dollars.
So
that
is
the
magnitude
that
we
are
looking
at
and
corsia
as
a
mechanism
has
just
started
off.
It's
a
it's
a
it's.
The
pilot
phase
that
it's
going
on
and
there
are.
A
There
are
a
lot
of
expectations
around
the
corsair
scheme,
a
because
it
only
targets
the
international
emissions.
The
overseas
flights
are
to
be.
You
know,
made
carbon
neutral.
A
The
challenge
that
we're
facing
here-
or
you
know
the
expectations,
the
you
know,
raising
the
bar
raising
the
emissions
or
whatever
we
should.
Whichever
way
we
would
like
to
put
it,
but
in
in
bigger
countries
like
say,
india,
china,
russia,
us
where
the
domestic
flights
are
so
much
that
you
know
they're
accounting
for
a
lot
of
emissions
by
itself,
so
garcia
has
a
scheme,
does
not
focus
on
the
domestic
particles.
A
As
of
now,
I
hope
to
see
more
on
that
in
the
near
future,
but
but
yeah
as
a
step
as
a
step
one,
I
think,
the
the
maritime
industry
and
the
aviation
industry.
These
guys
are,
you
know,
coming
together
to
do
at
least
start
to
do
something
about
the
emissions
that
have
been
getting
into
the
environment.
A
So
this
is
phase
one
till
2023,
which
is
pilot
and
then
the
compliance
kicks
in
from
2023
onwards.
So
all
the
all
the
international
airlines
like
british
airways,
qatar,
airways,
emirates,
etc,
whoever
are
operating
more.
A
So
these
will
be
required
to
offset
their
emissions.
Another
interesting
fact
about
european
union
again
because
these
guys
have
been
the
absolute
leaders
when
it
whenever
it
comes
to
climate
change
and
stuff.
So
all
the
all
the
flights
out
of
eu
I've
started
charging
17
euro
cents
per
passenger
kilometer,
which
is
you
know
less
than
a
less
than
a
price
of
coffee
that
you
buy
at
the
airport.
A
So
this
has
just
started
last
year
in
september
2020.
If
I'm
not
wrong.
So
it's
it's
quite
something
in
itself,
because
when
you
look
at
just
you
know:
17
euro
cents,
it's
absolutely
nothing,
but
you
are
doing
your
bid
and
and
and
that's
how
that's,
how
the
ball
gets
rolling
and-
and
I
always
tell
my
folks
around
that
sustainability
is
not
costly.
It's
it's
actually
affordable
and
it's
just
the
way
that
you
have
to
look
at
it
and
you
should
just
you
know.
A
It
because,
as
a
major
challenge
across
the
companies
in
india,
so
first
of
all
the
company
wants
to
set
up
and
then
make
more
money
and
then
pay
the
taxes
and
then
whatever
is
left
they
will
share,
and
then
they
will
think
about
sustainability.
Okay,
I
am
left
with
two
times
and
then
let's
do
something
about
it.
So
that's
you
know
something
which
is
more
the
inverse
in
case
of
you.
B
No,
I
think
very
well
put
there
are
times
when
when
companies
have
to
be-
and
now
is
the
time,
I
think
where
companies
have
to
be
more
aware
about
success.
In
fact
very
recently,
you
know
you
know
that
I
am
partner
at
golden
next
ventures
and
we
do.
We
do
a
lot
of
thought.
Leadership
and
innovation
related
work
for
for
several
companies.
So
what
we
did
few
days
back
was
there's
a
template
called
business
model
canvas
where
we
define
business
models.
B
You
and
I
we've
had
a
chat
on
on
the
same
template
earlier,
so
we
sort
of
created
a
v2
of
business
model,
canvas
where
we
included
a
box
of
sustainability
as
well,
so
why
so?
It
should
get
into
your
business
planning.
B
Absolutely.
I
think
that
is.
That
is
the
stage
to
be,
and
that's
why
you
know
you
know,
I'm
I'm
also
on
the
board
of
a
b
corp.
Now
we
do
where
we
do
planning
for
that
company
caribou
solutions
based
in
canada,
where
we
do
planning
for
that
company.
We
take
sustainability
into
consideration.
Every
decision
that
you
take
locations
to
be
launched
or
be
it
even
even
a
few
days
back,
you
would
give.
We
were
given
a
small
situation
around
you
know
hand
out.
B
You
know:
let's
have
handouts
in
aircraft,
let's
have
handouts
at
airplanes,
so
it's
working
for
the
migrant
workers.
So
people
were
you
know
we
were
talking
to
the
government
and
government
people
suggested
to
us
that
and
let's
do
handouts
in
at
the
airport,
so
that
people
know
about
the
company
and
they
can
download
the
app
and
start
using
it.
We
said
no,
we
would
rather
not
waste
all
that
paper.
Let's
just
install
standees
with
a
qr
code
and
we
will
do
a
and
that's
a
very
simple
decision
does
absolutely
nothing
nothing
changes.
B
People
are
still
accessing
the
same
qr
code.
It's
just
that.
Instead
of
printing
all
those
template,
you
know
papers
and
then
then
I
don't
know
what
happens
to
that
paper
once
the
app
has
been
downloaded.
Instead
of
that,
we
just
put
up
a
standee,
and
then
people
can
just
use
it
for
several
years.
Actually,
yes,
so
everybody
carries
a
smartphone
and
all
smartphones
are
enabled
with
qr
code
reader.
So
simple
decisions
like
these,
I'm
just
giving
an
example
and
people
on
the
call
or
viewers.
A
A
I
mean
the
qr
code.
Thing
is
happening
because
there
are
a
lot
of
people
at
cop
who
were
you
know,
not
exchanging
business
cards
business
cards,
so
they
were
just
showing
the
qr
code
that
was
hanging
around
the
lanyard
and
that's
how
the
business
cards
are
getting
exchanged
now.
So
it's
it's
quite
thing
in
itself.
I
think
I
should
do
it
for
the
next
time.
B
We
should
we
should
so.
I've
also
started
doing
that
since
the
past
couple
of
years,
not
not
because
of
cobalt.
I
started
it
before
combat
so
yeah.
I
think,
and
that,
and
then
it
was.
It
was
difficult
to
convince
people
that
you
know
what
I'm
not
handing
you
a
physical
card,
I'm
giving
you
a
qr
code,
you
scan
and
that's
it.
You
know
you
have
all
my
information,
the
information
that
you
need
to
have
to
continue
our
conversation.
B
B
People
were
offended
by
that
they
were,
like
you,
know
the
and
that's
and
that's
the
thing
with
change.
You
know,
that's
the
change,
that's
the
thing
see
b
corps
we're
talking
about
because
there's
only
four
thousand
b
cops
in
the
world.
So
not
a
lot
of
people
do
get
the
rationale
for
our
ideas
and
why.
A
B
Want
to
be
sustainable
and
why
do
we
even
care
being
a
startup?
Oh,
you
know
what
care
about
your
revenues.
First,
then,
you
think
about
the
environment.
So
that's
the
stuff
we've
been
hearing,
but
I
think
I
think
it
just
makes
sense.
You
know,
as
I
said,
we've
modified
the
business
model,
canvas
we've
added
an
additional
box,
and
that
is
something
that
is
my
commitment.
That
is
golden
next
commitment
going
to
all
our
clients
in
future
that
whenever
we
do
business
planning,
we
we
have
that
box
right
there.
B
We
are
taking
sustainability
very
seriously
within
within
this
firm.
I
think
it's
a
very
small
thing
to
do
or
but
we
are
doing
our
part,
you
know,
as
you
said,
that
we
should
all
do
our
part.
So
so
that
is
a
you
know
with
that.
Let's,
let's
move
on
to
the
next
sort
of
sort
of
question
which
I
have
with
you,
which
is:
will
the
reporting
requirements
change?
Will
anything
change
out
of
this
cop
26
that
you
attended?
B
What
was
it
what
any
learnings
towards
that
any
pointer
suggestions
that
you
bring
back?
You
know
towards
reporting
requirements,
because
you
know,
if
you
remember
from
our
last
episode,
which
we
did
on
esg's.
We
were
talking
about
data
silos
and
how
information
will
pass
on
from
one
to
the
other.
You
also
informed
us
about
how
auditors
rely
on
a
lot
of
paperwork
and
self-declarations.
B
So
is
there
any
change
in
that
regime?
Is
there
any
new
way,
a
new
lens
of
looking
at
information,
or
are
people
expressing
concerns,
relying
on
paper,
trail
and
and
and
self
declarations.
A
Yeah
so
there
are,
there
are
few
changes
that
have
been
just
learnt
and
as
we
go,
we'll
learn
more
about
them.
So
there's
there's
one
side
of
the
carbon
side
of
the
project
that
how
how
many
emissions
are
is
being
reduced
by
a
certain
kind
of
activity.
But
now
united
nations
is
moving
more
towards
the
sustainable
development
goals,
and
you
know
it's
it's
more
like
the
prices
of
the
carbon
credits
are
also
being
driven
by
the
number
of
sustainable
development
goals
that
a
project
is
able
to
capture.
A
You
know
in
its
overall
gamut
of
things.
So
as
an
example,
I
can
tell
you
that
renewable
energy
projects,
let's
say,
are
the
ones
which
cater
to
the
least
number
of
sustainable
development
goals,
community
based
projects
like
cook
stoves
and
water
filters
and
etc.
They
are
having
slightly
more
social
and
environmental
quotient
in
it
and
they
capture
more
sdgs
and
the
most
number
of
sdgs
are
captured
in
the
in
the
nature-based
solutions.
A
Where
actually
abatement
happens,
where
carbon
captures
soil,
sequestration,
forestry,
agroforestry,
mangroves,
sea
grass,
people
are,
you
know
developing
more
and
more
about
that.
So
that
is
how
the
prices
of
the
carbon
credits
are
also
getting
defined,
and
now
companies
like
apple,
let's
say
they
want
their
asd
scores
to
be
as
good
as
possible
top
notch.
A
So
they
will
end
up
buying
the
most
expensive
of
the
carbon
credits
because
they
are
capturing
more
and
more
sdgs
in
it,
whereas
one
carbon
credit
is
just
one
carbon
credit,
it's
just
one
ton
of
emission
reduction
in
co2,
so
you
can
get
the
same
thing
for
three
dollars
and
you
can
end
up
paying
30
for
the
same
thing,
but
it's
it's
all
dependent
on
the
number
of
sdgs.
A
So
this
as
a
platform
with
what
I
just
said
so
and
now
united
nations
is
getting
into
the
heavier
requirements
of
reporting.
So
to
say
in
terms
of
sdgs
and
also
what
I
would
definitely
like
to
see
is
that
you
know
if
I,
if
I
come
up
with
a
project
and
say
hey,
my
project
has
got
four
sdgs
in
it
and
says:
okay,
cool
go
ahead,
and
but
even
if
I'm
just
touching
those
four
sdgs
that
doesn't
really
help
right.
A
So
the
data
has
to
flow
in
a
in
a
manner
where
I
can
actually
quantify
the
impact
of
each
of
the
four
sdgs
that
I'm
capturing
in
my
project.
So
it
can
be
a
weighted
average.
Let's
say
it
can
be,
you
know
a
quotient
where
say
sdg
one
I
am
capturing.
Eighty
percent
of
it
so
point
eight
is
my
score
on
sdg
one
sdg,
two,
I'm
doing
say
thirty
percent.
So
point
three
is
my
score
on
svg
two,
so
going
on
so
much
and
so
forth,
I'll
be
able
to.
A
Actually
you
know,
bring
more
transparency
to
my
project
and
you
know,
attract
more
investors
and
have
a
better
deal
with
the
buyers
or
whatever.
So
it
just
increases
the
credibility
of
the
project.
So
this
is
where
we
are
headed
now,
and
this
is
kind
of
a
shift
that
we
have
been
seeing
in
the
in
the
overall
market
scenario.
In
the
last
say,
six
months
or
nine
months
or
something.
B
B
Very
interesting-
and
this
is
all
just
excitement-
I
don't
know
my
aircon
or
what
but
something
is
causing
this
fog.
So
so,
interestingly,
you
know
what
you
also
said
and-
and
here
is
here-
is
a
question
which
may
be
intriguing
for
some
of
our
viewers,
which
is,
when
you
say,
more
expensive,
carbon
credits.
So
what
really
drives
the
price
of
carbon
credits?
So
one
factor
you
said
you
know
the
more
sdz
it
touches
the
more
valuable
it
becomes,
but
but.
B
A
So
yes,
you're
right
when
you
say
that
the
number
of
sdgs
captured
in
a
project
will
determine
the
prices
of
a
carbon
credit
that
the
project
is
generating
and
also
the
other
factors
are
the
location,
the
kind
of
community
that
the
project
is
serving
to
what
kind
of
local
employment
has
the
project
generated,
et
cetera,
et
cetera,
et
cetera,
so
and
and
what
what
kind
of
social
labels
and
the
environmental
labels
so
to
say
is
the
project
catering
too.
A
So
that's
that's
how
the
prices
of
the
carbon
credits
are
decided
and
also
the
vintages
as
in.
If,
if
I'm
trying
to
buy
a
carbon
credit
from
2013-14,
it
will
be
definitely
more
definitely
cheaper
than
what
I
will
get
from
vintages
of
21
or
20,
because
recent
vintages
are
more
in
demand
and
and
yeah,
so
the
life
cycle
of
a
carbon
credit.
A
So
once
these
carbon
credits
are
in
your
bank,
you
can
trade
them
off
to
a
broker
to
an
open
market
supplier
or
even
to
the
end
consumer
end.
Consumer
means
somebody
who
has
taken
up
the
target
on
its
head,
that
I'll
become
carbon
neutral
by
so
and
so,
and
so
what
happens
is
that
the
carbon
credit
dies
when
the
retirement
happens,
and
only
then
you
are
able
to
claim
the
carbon
neutrality,
because,
if
I
sell
to
you,
then
you
said
to
somebody
else
and
they
sell
to
somebody
else
again.
A
So
one
carbon
credit
is
being
you
know,
exchanging
hands.
You
know
three
times
in
it
in
its
life
lifespan,
before
it
gets
retired,
so
the
person,
the
n1,
who
is
retiring,
the
carbon
credit,
is
the
one
who
gets
the
right
to
claim
the
carbon
neutrality
part.
So
people
are
having
all
kinds
of
business
models.
There
are
brokers
in
the
market
as
well.
A
There
are
exchanges
as
well
who
publish
online
data
as
to
what
kind
of
integers
from
what
kind
of
projects
from
what
kind
of
locations
are
getting
traded
and
bought
and
sold
at
what
prices?
Where
is
the
demand
coming
from
what
kind
of
carbon
credits
are
in
demand?
So
there
are
portals,
there
are
platforms,
and
you
know
using
the
blockchain
deck,
etc
the
verified
information
of
the
trades
that
are
happening
so
yeah,
it's
it's
it's
there.
So
prices
are
determined.
A
You
know
very
dynamically,
it's
not
a
fixed
price
that
you
can
have
for
one
carbon
credit,
for
let's
say
whatever
time
you
want
to
hold
on
to
it.
It
will
change
basis.
The
market,
it's
a
very
clear-cut,
demand,
supply
game.
If,
today,
forestry
projects
are
in
demand,
then
yes,
the
prices
may
go
up
even
further
from
30
dollars.
A
ton
and
renewable
energy
projects
are
now
starting
to
get
in
demand
because
rest
of
the
credits
have
just
exhausted
from
the
market.
Everybody
has
just
bought
them
off.
A
So
now,
renewable.
B
A
Credits,
what
were
getting
traded
in
the
range
of
say,
35
cents,
40
cents,
50
cents,
one
and
a
half
years
back
now,
they're
getting
traded
at,
say
four
dollars
or
even
you
know,
five
dollars.
So
it's
it's
quite
a
jump
in.
B
B
You
know
you
said
35
cents
and
30
dollars:
yeah
yeah,
that's
a
very
wide
spectrum!
Okay,
interesting!
So
if-
and
you
know
you
know,
we've
spoken
about
a
lot
of
domain
knowledge
and
thank
you
so
much
for
being
patient
and
explaining
us.
How
do
we
really
fathom
this
whole
industry
and
the
whole
carbon
economy
so
to
say?
Is
there
any
place
where
people
could
go
and
and
learn
more
about
this
and
then
sort
of
the
data
exchanges
which
happen
any
youtube
channels,
any
reading
materials?
Any
websites.
A
Yeah,
so
there
is
a
bunch
of
information
available
on
our
company
website
as
well.
There
is
a
blog
section,
so
there
are
four
or
five
blocks
as
of
now
but
yeah.
We
encourage
our
employees
to
just
write
and
you
know,
come
up
with
new
ideas
and
stuff,
so
that's
gonna
happen.
So
the
blog
section
is
gonna
get
failed,
but
for
now
just
to
as
as
a
novice
in
the
industry.
If
somebody
is
just
reading
through,
so
they
will
get
a
fair
idea.
A
So
the
website
is
called
earthwood
dot
in
and
there
is
a
blog
section
at
the
bottom
of
the
page.
You
can
definitely
go
and
have
a
look
and
talks
about
lots
of
stuff
policies
and
the
impact
of
coronavirus.
A
Or
the
air
pollution
and
stuff,
so
a
few
interesting
blocks
up
there
now
and
then,
apart
from
that,
there
are
for
the
for
the
prices
of
the
carbon
credits.
So
there
are
a
couple
of
platform
like
the
cbl
markets.
A
Cbl
these
guys
are
based
out
of
us
and
then
there
is
a
carbon
exchange
which
is
doing
something
amazing
on
the
blockchain
tech
as
well.
You
can,
you
can
just
browse
through
these
websites
and
you'll
get
a
fair
idea
about.
You
know
the
overall
thing.
B
Amazing
amazing,
I
just
I
just
put
up
this
just
put
up
your
website
single.
A
B
So
then,
so
then
people
can
come,
come
on
your
website
and
and
read
the
blogs,
educate
themselves
more
about
the
carbon
economy
and
try
and
understand
how
emissions
happen
and
how
they're
traded.
Let's,
let's
talk
in
the
line,
and
now
this
is
the
last
section
of
the
show
arches
where
we
start
talking
about
baselining,
and
so
what
do
you
think
between
the
last
time
that
you
were
on
the
show?
And
today
do
you?
A
Definitely
I
mean
I,
I
do
see
a
lot
of
opportunities
that
I
can.
I
can
just
throw
my
doubts
at
you
all
the
time,
so
I'll
keep
disturbing
you
more
on
this
one,
but
but
yes
definitely
we
have
seen
like,
like
the
assignment
that
I
was
talking
about
for
the
private
equity
firm
from
mumbai.
B
A
The
problem
was
that
they
had
data,
but
it
was
not
you
know,
comprehendable
so
to
say
in
terms
of
the
carbon
footprint.
Now,
how
do
we
solve
that?
Because,
back
in
the
days
they
did
not
have
computers,
they
did
not
have
you
know
online
records
of
something,
and
it
was.
It
was
more.
A
Like
a
you
know,
business
travel,
let's
say
for
an
example
that
they
did
so
they
they
do
have
you
know
the
hard
copies
of
the
tickets
that
were
generated
by
let's
say
I
mean
one
of
the
challenges
that
I
can
just
mention
here
is
that
a
printout
of
the
ticket
is
not
a
proof
of
travel.
The
proof
of
travel
is
the
boarding
pass.
A
So
in
some
cases,
or
in
most
of
the
cases
the
boarding
passes
were
not
available.
So
how
how
do
I,
as
an
auditor
or
how
do
my
team,
just
you
know,
verify
that
whether
the
travel
actually
happened
or
not
whether
these
are
your
emissions
or
not,
whether
you
cancel
the
ticket
after
getting
the
print
out
done
so
all
kinds
of
possibilities,
but
so
so,
when.
B
A
Yeah,
that's
okay,
I
mean
you,
you
make
the
payment
as
soon
as
you
you
book
a
ticket
right
and
then
you
take
a
print
out
of
it
and
let's
say
you
missed
the
flight.
You
did
not
travel
at
all.
A
So
if
a
boarding
pass
is
not
there,
then
how,
then,
how
do
I
justify?
The
travel
actually
actually
happened.
B
A
No
yeah,
so
that's
that's
where
I
see
you
know
a
type
of
data
cycle.
That's
come
across
today.
Data
is
there,
but
it's
not
there.
So
how
do
we
resolve
that?
So
we
have
to
just
wrap
our
head
around
this
one.
A
A
little
bit
and
and
yeah
like,
like
I
mentioned
the
the
hotel
sector
so
that
these
guys
have
have
have
a
commitment
to
maintain
the
privacy
of
the
guests
that
they
have
over
there,
probably
staying
or
just
dining
in
or
just
you
know,
dropping
somebody
off
or
whatever,
but
but
but
yeah
with
with
no
data.
You
cannot
take
an
informed
decision.
A
You
cannot
draw
a
pathway,
so
it
there
has
got
to
be
a
way
where
you
can
reveal
some
part
of
the
information
while
hiding
the
rest
of
it,
which
is
confidential,
which
is
secretive,
etc,
etc,
etc.
But
to
be
you
know,
actionable
in
the
field
of
sustainability.
You
need
to
have
data,
so
so
so
I
mean
for
any
industry
for
that
matter,
but
all
the
more
important
here
so
you.
B
Know
that's
a
common
theme
which
comes
out
when
we
talk
to
experts
like
yourself
on
the
show
that,
while
you
know
as
time
passes
by
the
company
also
sort
of
matures
in
the
ways
capture
and
retain
and
analyze
their
data
plus,
you
know
there
are
all
these
multi-party
workflows.
I
think
baseline
works
best
in
multi-party
workflows,
where
we
are
trying
to
talk
to
other
companies
via
systems.
So
there
may
be
our
vendors
and
we
are
customers.
B
We
are
integrating
our
systems
with,
so
that
those
are
the
scenarios
which
are
best
and
I
think
in
in
well
what
happens?
What
happens
in
the
in
the
case
of
a
supply
chain?
So
what?
If
a
supplier
has
produced
something
you
know
in
a
more
sustainable
way
and-
and
you
know
giving
it
to
you
as
as
an
input
to
your
product,
so
do
you
get
you
get
to
use
their
carbon
credits
or
do
they
get
to
clean
their
carbon
credits?
How
does
this
work.
A
So
the
carbon
revenue
is
attributable
at
either
of
the
ends.
So
if,
if
I,
if
I
am
drawing
that
advantage,
then
I
have
to
make
the
payment
accordingly
to
my
supplier,
okay,
and
if,
if
he
wants
to
you
know,
retain
the
carbon
attributes
of
the
project,
then
the
prices
of
the
product
will
be
different.
Definitely
so
because
otherwise
it's
just
double
counting.
A
A
So
ideally,
ideally
I
mean
this
is
another
challenge
that
the
industry
faces
of
double
counting.
So
as
per
the
best
practices
and
the
guidelines
that
were
given
out
by
united
nations,
is
you
know
eternity?
So
the
the
the
carbon
attributes
need
to
be
just
claimed
at
one
place
either
it
can
be
at
the
source
or
it
can
be
at
the
destination.
So
as
an
example.
A
Sorry
for
that,
as
an
example,
the
countries
are
now
getting
more
and
more
confused,
and
you
know
it's
a
complex
thing
when,
when
you
declare
as
a
country
that
I
am
signing
the
paris
agreement-
and
I
want
to
be
carbon
neutral
by
2017,
like
india
said
so
now,
what
happens
is
that
the
government
or
the
country
by
itself
cannot
have
so
many
solar
power
plants
for
an
example.
A
Now
they
are
going
to
give
out
these
tenders
and
they
are
going
to
allocate
these
projects
to
different
developers.
Now
these
developers,
if
they
are
not
well
informed,
they
will
just
say
okay,
you
want
me
to
set
up
one
gigawatt
of
solar
farm
I'll.
A
Do
that
and
whatever
is
the
carbon
attributes
coming
out
of
this
project,
I'm
going
to
claim
them
now,
it's
it's
up
to
the
government
whether
they
want
to
capture
these
carbon
attributes
in
their
nationally
determined
contributions
as
a
part
of
the
paris
agreement
or
they
they
would
like
to
say
that.
Okay,
you
go
on
with
your
carbon
thingy
and
do
whatever
you
want
register
your
project,
claim
your
carbon
credits
sell
them
off.
I
am
going
to
allocate
one
gigawatt
to
somebody
else
who
is
not
going
to.
A
You
know,
claim
carbon
credits
from
anywhere
else,
because
that's
how
my
government,
my
country,
gets
to
that
level
of
being
carbon
neutral
by
2017.
So
this
is
the
pathway.
So
that's
how
the
double
accounting
cannot
happen.
B
Yeah
no,
this
is
a
very
interesting
problem
to
solve
for
baseline,
as
I'm
sure
so,
if
people
are
watching
this
today
or
in
future,
you
know
pick
up
this
problem
of
of
double
counting
of
common
credits
and
try
and
solve
it
using
baseline.
You
know
the
way
I
see
it.
You
know
it
is
it
is.
B
It
has
been
on
my
head
since
couple
of
years
now,
but
the
way
I
see
it
is
that
it
could
be
dealt
with
as
as
nft,
so
you
could
convert
carbon
drives
to
nfts
and
they
could
carry.
You
know
their
attributes,
along
with
the
token
and
as
tokens
flow,
because
blockchain
transactions
are
finer
final.
So
if
I
have
something
to
you,
it's
ownership
changes
and
it
show,
whereas
ownership
has
changed
and
has
been
accounted
for
or
I
can
burn
it.
I
can
put
in
a
certain
wallet.
B
I
can
lock
it,
nobody
will
be
able
to
use
it
but
still
see
it
is
there.
So
there
are
various.
You
know
creative
things
which
can
be
done
around
mfds,
and
you
would
have
seen
all
that
news
and
and
jazz
on
on
various
tabloids
about
nft
market.
Getting
really
heated
up,
but
I
think
the
tech
behind
it
still
remains.
It's
just
the
newer
applications
which
people
are
finding
very,
very
interesting,
and
I
love
it.
B
You
know
I
love
the
way
it
is
evolving
where
baselining
comes
into
picture
is
baselining
still
helps
synchronize
the
attributes
which
go
along
with
these
nfps.
So
what
are
these
attributes?
These
attributes
are
data
points.
So
there
may
be
data
points
on
one
side.
Then
there
may
be
data
points
on
the
other
side.
What
if
the
two
sides
want
to
verify
certain
things,
so
you
want
to
grab
some
water.
It's
fine!
It's
it's
not
a
news.
It's
not
a
new
style
glass.
It's
fine!
You
can
have
some
water.
A
B
Yeah
so,
as
I
was
saying,
I
think
it's
a
it's
a
it's
a
pretty.
I
think
it's
a
pretty
interesting
problem
to
solve
for
myself.
Personally,
and
you
know
I
will
be
troubling
you
on
these
things.
As
I
said,
we
will
we
should
so.
We
should
definitely
collaborate
and
find
a
solution.
B
I
was
talking
about
data
attributes
being
synchronized,
so
if,
if
let's
say
you
know
between
the
buyer
and
the
supplier
example
that
we
just
took
what,
if
we
had
a
system
to
synchronize
and
verify
that
the
that
the
supplier
has
actually
done
what
they
are
claiming
that
they
have
done
so,
does
you
know,
does
it
does
it
exist
today?
Is
there
a
system
that
exists
today.
B
A
I
would
say,
because
it's
it's
either
not
detailed
enough
either
it's
not
verifiable
enough,
so
these
are
the
challenges
that
are
there
existing,
but
there
is,
there
is
no.
How
do
I
put
it?
There
is
no
foolproof
solution
to
it.
Okay,.
A
Costly
lot
of
paperwork-
a
lot
of
paper
trails.
You
have
to
spend
a
lot
of
mandates
to
just
dig
into
the
information
that
you
really
really
want
to
see
right
and
to
you
know,
arrive
at
a
reasonable
level
of
assurance.
Let's
say
right
so
yeah.
B
Awesome
awesome,
so
we
have
some
people
on
the
chat,
guys
any
questions
or
are
we
good
should
we
get?
Should
we
let
ourselves
move
on
with
this
day,
so
I
have
thoroughly
enjoyed
our
chat
today.
Thank
you
so
much
for
taking
time
out
and
once
again
congratulations
on
setting
up
the
london
office,
or
I
thought
I
I
hope
you
guys
go
to
newer
heights
with
the
new
office
and.
B
B
For
sure
you
know
my
best
wishes
for
that
as
well,
and-
and
you
know,
thank
you
so
much
for
sharing
your
your
on
your
understanding
of
the
subject
and
you're
learning
from
cop
26..
B
I
hope
that
our
our
paths
cross
very
soon
on
baseline,
for
people
who
are
watching
us
on
on
youtube
do
do
tune
in
next
saturday
as
well.
There
are
announcements
coming
up
on
8th
of
december,
so
8th
of
december
is
a
very,
very
important
date
for
baseline.
B
There
is
a
major
there
are
actually
many
many
releases
which
are
now
packed
into
one
go
which
is
8th
of
december,
and
I
think
after
that,
8th
of
december
release.
People
are
just
going
to
say
merry
christmas
and
go
off
on
holidays.
So
that's
why
it's
sort
of
all
packed
up
into
8th
of
december
release,
so
yeah,
I'm
really
looking
forward
to
it.
B
There's
this
there's
also
going
to
be
a
lot
of
news
releases
leading
up
to
8th
of
december,
so
do
watch
out
our
social
media
channels
and
and
and
and
do
participate
in
the
discussions
which
happen
on
slack
once
again
go
to
baseline
hyphen
org
based
on
hyphen
protocol.org
and
get
involved.
Thank
you
so
much.
This
is
sumrat
signing
off.
Thank
you.
So
much
archit
see
you
next
time
next
time.
Thank
you.
Thank
you.