Hyperledger Foundation Climate, 2 May 2023

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From YouTube: Democratisation, Decarbonisation using Decentralisation

Description

A presentation of the Hyperledger Climate Action and Accounting Special Interest Group on May 2, 2023 featuring Prabhir Mishra, Co-founder of TRST01, a blockchain technology startup working and connecting the dots on Climate, Agriculture and Food Supply Chain. TRST01 recently launched the ESG reporting Automation tool named Footprint by TRST01. This is the first ESG Reporting Tool in the world which is blockchain enabled.

If you're interested in how blockchain is being used in climate related use cases, you're welcome to join Hyperledger's Climate Action and Accounting Special Interest Group.

Sign up to the group's list to get notified of upcoming calls and join the discussion and feel free to introduce yourself. You can sign up at: https://lists.hyperledger.org/g/climate-sig

And you can find out more about what the group is doing at: https://wiki.hyperledger.org/display/CASIG/

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So everyone need to follow that code of conduct and privacy policy, so uh in hypolysis climate Sig. Actually we started this uh Sig to to find out, or maybe come credit together to build the hyper hyper laser Fabric or hyper laser, basically, uh the solutions or what community in the space so in even we have a three different working groups. One is carbon Accounting Group, where a couple of members and Community working on building the carbon accounting uh platform, which is even deeply in production in life like side chain Robin is earlier.

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You know, I was a part of the earlier part of this high pressure labs and then we also have one standard working group. So here the domain, expertise or technology expected defining some kind of Standards. What what would be the right way of measuring the carbon footprint and then tokenizing it and third, we have one research working group where what is the different new in sa2 and talking about like cop 26 or scope, three emissions and all about it's.

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All about happening.

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In the sustainability in the blockchain space, so these three we actually do and if you go to the carbon accounting working group, you will find many different uh different.

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Inside it like supply, chain, traceability and the carbon accounting, carbon accounting and the renewable energy space and there's a separate Towers created there. So multiple things, then, is the production ready code. Anybody can use it and build around it.

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So so, uh and currently actually, this quadratically hyperledger runs some kind of theme and this uh quarters team is a hyperledger climate. So if anyone doing something and building on a.

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In the particular segment they also uh climate, Agriculture and food supply chain- plastic credit. They all have done so and praveer is the founder of this company and uh he is the.

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Decree of experience.

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Working in different different Innovative uh people and platforms he's an investment banker earlier startup coach, Mentor aristotic partner. He is a sector experience in the social Agri Tech and Tech Healthcare and transaction structuring and his.

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Passed out or his aggregation from rahula and uh he's one of the I am and Baba alumnus, so interest were recently launched, some kind of ESD reporting and automation, Tool.

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So he's going to talk about like how he's using blockchain and decentralization for democratization and the decarbonation of her using blockchain. So.

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Thank you. Thank you. Thank you. Come less. Can you enable my screen share.

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You need to reset yeah yeah. Thank you, I got it. So thank you come less for that introduction and thank you for this evening session. Thank you for us. Thank you for giving me an opportunity, and let me start with uh just uh giving a brief introduction of what Presto one does just one we started in the year 2020 and we started yes, as kamlesh mentioned, we started as a blockchain disability, focusing on more and more use cases on food and seed and agriculture.

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Yes, climate initiative was just we took it around uh one and a half year, two years before near about, and we saw there is a lot of opportunity out there. Particularly this is my favorite topic. What we call as a climate. uh What we don't see climate is not that what you see from your window and see that okay, this temperature is good, cloudy or windy. Climate is something different and climate. We know the whatever consequence of climate change. We are focusing so the topic.

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What we choose is that yes, Global made the decarbonation and and uh how we can do the decarbonation and how we can create a bigger awareness, creating democratizing the total carbon space and or the climate space, and using a technology such as a beautiful technology which is available to us as a decentralized technology, see the Declaration I.

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We believe the democratation is the is the process to uh achieve the goal of Net Zero democratization, I mean to say everybody should be aware of what is going on and how they can be a part of this low carbon economy and the the thing is that, once until there's, a big awareness is getting created, there is nothing is going to change on the climate parallels out here.

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So that is the focus of the topic today and I am not going to talk much on the on the uh much and the aspect of core technology, but again I'll talk on what is that essential why this is required to get into the democratician and why and the available technology? What is available to us right now is a DLT technology or web3.

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How we can do that and what is that platform as a web 2 and web 3 Innovations are creating to secure the transparent Market carbon credit and so that we can achieve into the bigger goal. So so, let's get up and please feel free to start the uh free to ask me the questions at any point of time, so we are going to connect the dot between the climate change and sustainable supply chain, and the ESG ESC is stands for environment, social governance and how the connections are evolving.

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We are going to discuss on that so today. In fact, on the economic Times in India, we just found out a interesting news: article saying that URI segment to build the country's first resettlement colony for the people affecting climate change is it that the whole world can make some sort of a resettlement Colony for the humankind. It's not it's not possible right. We have seen the in December 2022. We have seen the rare hellstrom in in Kuwait. People enjoy that okay, but again California storm lives around thousand people without power.

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We have seen that in January, 7 20 23 this year. So it's it's that not that climate change is a distance threat. It's happening now and unless, until we gear up from now, it's it's very difficult to get into the get into uh the future is going to be very difficult for us to survive.

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The whole world is striving for a styling product to reduce the temperature or to get into the control, but it's somehow it's getting out of production now. The thing is that, yes, what we can do is a business owner. Can we do something to create that sort of a bigger awareness out here? Can we do something on the business front to to make a business sense on the climate action? Yes, take certain climate action and create that business sense? What does that mean whether our the the prevailing business? We can do something?

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Yes, if you are getting aligned with the climate, it is going to save us the cost, implementing energy efficient or the utilizing renewable energy. We can reduce the cost and help us the business to grow money and improve our bottom line. It will help us to manage the risk. It will help us to mitigate the potential risk, such as the supply chain, disruption, regulatory penalties and the depths to the infrastructure is, if you are taking certain climate action, we have got certain potential to get into the bigger opportunity. Now.

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This is the brand repetition right now. You can see that every nook and Corner every business they are working towards the sustainability, thus creating a bigger brand awareness. Of course, sustainability comes at some sort of a green washing, but again technology.

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We have got that sort of a technology to get rid of those kind of element right now, so brand reputation is going to uh going to the bigger driver for the for the drive towards the climate action and it is, it is going to demonstrate the commitment towards the sustainability and in increasing your brand value.

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Then third thing is that access to Capital access to Capital is becoming crucial and you will find more and more sustainable uh sustainability or the action to our climate action to our sustainability is going to drive your capital and then the access to Capital is going to be get easier. Just to give you a simple example: uh recently, sebi Indian, Securities and board of India has come up that okay, the the mutual fund investment, should be 65 percent of the mutual fund. Investment should be the ESG compliant uh organization. So what does that mean?

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That means the the government is pushing you to drive your ESG disclosure or your environment, social governance or your commitment towards climate. How good you are the moment: you define your ESC disclosure. Obviously you are going to get treated and that is going to drive your investment in your organization. You are going to be stand out in in form of innovation and The, competitivities, Innovation and competitiveness, because that that is going to give you the a Competitive Edge Beyond uh Beyond other computer, and increasing your environmentally friendly and excess Market.

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Obviously, the last thing is that your regulatory competence, more and more, the regulatory is getting stringent and the governments are constringent to comply towards the environment. More and more. That's how the things are going to achieve to us, taking you towards the who has the business use case of. Why should you add, on climate change now simple ways talking about that? Addressing the climate change and impacting business triple bottom line, triple term line that, yes, you are working towards planet people and towards the prosperity, that's how the things are going to be get aligned.

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It's it's that you can make profit, you can make prosperity, provided you connect with the people, you work for the planet and that's how the things are going to get aligned. Now new new age business is what is. They are looking for new as businesses speaking to us, the inclusiveness. It is looking towards your holistic, Innovations or the holistic sustainability uh it is it is. It is attracting towards your more of your triple bottom line, so to say, then.

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The second thing is that what newest business is looking towards the collaborative partnership, vulnerability partnership, talking about your with your government and ngos, and the stakeholder and the business libraries, uh Collective, expertise to Resource, develop Innovative climate solution and create the sad value across the sector and the communities. The whole thing is that it's going to the newest business is working towards the employees, empowerment, employees, empowerment, means again participating towards their sustainability initiative, participating towards their sustainability, environment, friendly responsibilities.

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That's how the MP responsibility is going to come. Responsible Supply chains are the political aspect of the climate uh action initiative. In fact, if you look at the total carbon footprint of the whole world and he categorized into scope, one scope, two and scope: three scope: 3 comes under Supply chains, and that is 92 percent of the total carbon footprint is getting created from this supply chain.

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Recently, the CDP report talks about that 90 percent of the 11.4 X of the scope, 1 and scope 2, which is getting ignored or the supply hn carbon Footprints are getting ignored. That is going to create a bigger aspect of supply chain, also the sustainability of the supply chain. What is the source when you talk about your Upstream supply chain or Downstream supply chain? What is the source? What is the? How is the supply chain? How is the sourcing of the material is happening? Is it avoiding any kind of a child labor?

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It is abroading any kind of a deforestation, uh so these are the things which are going to drive your newest business and so third last particular list is the impact interesting, investing, focusing your creating a positive environmental aspect.

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One side, your investment is going to drive once you are concerned about your talk about your environmental aspect here, the social outcomes- yes, that is going to the the newest business, is looking after that, unless, until you focus on this five Factor, the newest business is not going so gone are those days when we don't care about the polluting pollution. We create a steel factory without ignoring that how much pollution is going to be.

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We establish power plant with the cool plant and we just forget about or ignore about how much pollution is going to create. Now this is the newest business is going to create all the newest businesses are going to be created with this Sport and pipe inclusive things.

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That is how the things are going to do, and then the climate success is is is going to unleash the power of innovation, see that the climate success unless Till There is a element of innovation. Talk about the technological um advancement talk about any kind of a resource efficiency. Here, let me tell you, there's a recently vacancy study find that around 80 percent of the of the global Innovative global companies, whose success are defined in certain terms, are the Innovative.

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The the success are defined through their Innovation. Success are defined through the new as new alteration or the new thinkings. It's gone are those days when you don't keep on innovating, if, in fact, in talk about our startups also, unless until we get into that sort of a Innovative purposes, uh devoting it to a new and newer uh product or the services, it's very difficult to survive.

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So the power of innovation is going to Define your success or the climate success and talking about the sustainable infra technological advancement or uh your sustainable infrastructure, or creating a beautiful circular economic, where innovation in the product, design, materials and the waste management is when can support a shift towards the regular economy. That means whatever you produce, whatever you'll do, but again you are impacting the leash to the environment or you are circulating the whole uh uh whole discharge either either a human discharge or either either industrial discharge.

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Your circularity, the climate, smart agriculture, is the fifth aspect which is going to create the bigger impact out here so uh and then the another. uh The the last is that about the education and awareness and the policy and financing which are going to Define your power of innovation. But again, when you talk about all these things, the other aspect is that data. What we ignore data is the critical to climate change. So you come to the data we need to understand. What is that the Baseline assessment and what is the differential? We are creating.

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That's why we we keep on taking or talking of that. Yes, Earth is not certain capacity to absorb some amount of carbon dioxide, not everything. So we try to control this temperature Beyond 1.5 degree by 2030 or 2050. We set various targets. It is shown that the targets are set because we know that unless until we set those targets, the excesses of carbon dioxide is going to create a bigger effect. It is it is. It is going to increase the uh same Arc temperature.

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Again, it's becoming the total climatic bulbs is going to get distorted, so they assessment is because accurate and compressive data is essential to establish a bit Baseline understanding. Okay, this is that Baseline what we can operate of us just to give you a certain fact and figure: India produces 17 percent of the greenhouse gases from The Paddy field, just because of excessive use of water and excessive use of fertilizer. Is there a way to reverse that, or is there a way to reduce that?

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Yes, we have to understand okay on Baseline, okay, if you are producing around five tons of carbon dioxide under a differential or the improved method, whether you are reducing to two or three, so the differential up to uh metric ton of carbon dioxide emission per acre of.

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Is going to create a bigger impact in the in in longer run so talking about? The next aspect? Is that, apart from Baseline, what is that monitoring and progress? Okay, then we'll just creating. Are we creating a bigger infrastructure to absorb the carbon dioxide? Like? Are you creating on the urban scenario? Are you creating certain Jingles or same way? The interaction will grow, but again, jungle is also going to go. Are we creating certain as jungle as a miyawaki forest kind of a scenario?

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Are you creating certain climate modeling, uh uh because climate modeling is required just to not only to not only to make the crucial for defining sorry crucial for development, but again V5 ml model? Also, the predict the future clienting scenario and inform about the climate related decision making. Now. Fourth aspect is that vulnerability of assessment data on the climate impact.

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Finding out what is that vulnerability impact to the community on the coastal, then the aspect is that climate adoption, yes by collating analyzing the climate change, the decision making can be implementing uh and they implement the appropriate adoption strategy. The last thing is that about the emission reduction strategy. What are that emission rejection strategy you are taking, so the importance of data can be defined through various parameter and creating that. The last thing is that about the creating the public awareness and the engagement model, so data is critical.

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So, but again we know that what we can't measure you can't manage, so the measurement is a bigger aspect. Measurement reporting and the the final aspect is: the verification is the crucial aspect for any kind of a climate change initiative. What we do, what Innovation is doing equation is doing digitizing those mrv what we started. We started digitizing those measurement reporting, verification methodologies which are defined by human bodies, and we got to creating bigger transparency on the enhanced transparency on the whole ecosystem. That's how we started.

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Real-Time monitoring on the climate, so I just start up, think it of where we are starting. We just know that there is certain Baseline. We know that the importance of data is that any kind of a model available for measurement of this. All these all this data.

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Yes, there is certain methodology available, we adapted Global methodology or the CDM clean development mechanism methodology, even appointed uh methodology or the beta or gold standard, all those climate audience methodology, and we digitize that that's where the things are starting from uh very basic, then the moment you get into the real time monitoring, then you can find the stakeholder takeover accountability. Who are the actors and the exactly on the on the whole process who are creating at what level so talk about the simple manufacturing process? There is certain Upstream. There is certain Downstream.

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There is on the scope, one and scope. 2 is happening on the manufacturing level, whether those things we can measure Define and create those different. Yes, that's how the data becomes said uh for the collaboration and okay, you create those kind of bliss to Breeze between the different parties to create those trust and collaboration, and you put in the next level.

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So these data sets are going to give you the decision making, what to do, what not to do how to create the values for the those who are working uh on climate or the carbon dioxide sequestration or reducing those things and how to measure those things who are creating those kind of carbon Foods. So that's how the things got into play. Then when you got this when you have got this availability of blockchain or digital DLT technology, decentralized technology, you have got everything to connect the things.

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So that's the how the technology has become the centerpiece up.

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Decentralized technology, so the future is not that what is what is we are looking for. Looking for uh five years to come, teacher is now to define those kind of a critical connectivity and and and defining those accessibility, defining those decentralized, Energy System, so just to give us something about that. What is decentralized, Energy System, it's a kind of a creating your mark, microgrids that distribute the renewable energy uh generation to a local community.

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Now local community can manage their energy in it, promote the energy democracy and also reduce the dependency on the Reliance of centralized possible. See this kind of microwave concept is not new. Already we in India we have started. We have started in the remote corners of some of the places where the renewable energy are getting charged.

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We have got a group of mechanism where we connect to the grid with a debit and credit with a with with a kind of a when there is a surplus of energy you can set up one year, whatever less energy, then you can buy it. So those kind of mechanism is already available, but again the decentralized technology is going to make it pretty simple, defining what is the transparency under the complete ecosystem, then the information, the clean Transportation?

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This is that adoption of the electrical energy electrical Vehicles public transit systems and the sustainable transport technologies that will help to reduce the carbon emission and we've seen I've seen the changes for last two to three years in a drastic change. In this aspect, the information sharing is that, which is that, which is the information sharing, is crucial because who is creating the values out here, whether as a the community, they are creating a bigger value.

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They should be getting rewarded whether the farmers are getting created, creating a bigger value by adopting better methodology or the technology of cultivation. These things are going to be said in a seamless digital platform, communication technology and the sharing and the sharing models are available. Now innovative business models are going to define the Define the complete equation in a better way, so technology is the centerpiece for any kind of a dick demonstration or the uh and and decarbonation. Now. What are the framework generally? We are it's it's kind of why the framework is required.

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That's a that's pretty crucial because it gives you a resilience and the reality how the things are going to operate. It gives you a kind of a local empowerment. Our dmrb technology is helping more than 50 000 and we are targeting right now, maybe in next to three years we will have more than 10 million farmer getting empowered and those who are working towards climate change and helping reduce those element of carbon dioxide emission from the peripherals.

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It is also going to give you the efficiency Innovation, so the framework is kind of a pretty important when you define the complete client ecosystem so sustainable. Now, it's a time to unleash the sustainability, uh only sustainability, uh amazing, the carbon footprint at uf3 and the ESG in climate action. So here I just want to talk about the couple of uh initiative. What is and how the things are going to align the Urgent action, the carbon footprint measurement and EOC reporting and the sufficient traceability is required.

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It's not that because the moment you measure how much is that uh as I said the moment, you measure that will Define your um how you are going to manage. So the measurement is quite crucial and effective measurement is in fact, very much required for for uh any kind of a climate action. So that's how the ESC reporting transparency, the EAC reporting tool and supply chain. Traceability is becoming more important with three and the and the the blockchain technology also enables how secure, in fact, tester one.

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We use UFC technology and we use various purpose to to complete track and Trace the environmental and social matrixes. Then smart contracts can verify contact, verify and enforce those kind of social conditions so that you operate on on a boundary and certain standards. Then you have got an Optimum and downstream measurement. uh Also Define, your Define, your. How much is your contribution towards the climate and what is that carbon footprint he was creating on the on the whole ecosystem.

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Collaboration partnership could be there to drive the innovation and and connecting the sustainability effort to the fostering to cooperation and the addressing the challenges to the create more sustainable global economy is pretty essential. So in this process, what you have created, you have created a beautiful model uh on on measuring that harms carbon footprint.

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You are creating and that's based on the Block here, and this has taken us around one and half year to developed and the product is ready to be adapted globally and that's how we talked about the re when you re-imagine sustainability, you re-imagine certain measurement uh or the reporting tools. So we have come up with your first reporting tool. Footprint I'll just pause for a one and a half minutes video out here. Then then, we'll continue.

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Please India's president only blocked in enabled he has been reporting to me by trustful automated, like that, will help companies analyzed.

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And reported easily.

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Being powered by blockchain ensures the data is secured credit and in Newton God.

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People treated with brilliant.

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The design element of footprint is based on certain framework like gra Global framework, I, would say: gra321, SAS, BTC, FD and recently we have started the brsr, which is the India framework, called business responsibility, transition into everything, and all these this. This is the first product which is getting into the complete entrance blockchain and enabled addressability verification. It also is a kind of API driven, Erp integrated.

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It's also suitable to integrate, with your provide your kind of a live dashboard solution and also it will integrate with your iot devices and and other other sensors if it is required, so that our journey is how the web3 general assessed and will ecosystem. We use technology to integrate, connector dots and integrate the centerpiece and create a bigger system.

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So this is all about uh how we do the things and what are the things we have able to do so specifically, right now we have focused into three things: sustainable supply, chain, disability, then dmrb solution and the uh and the ESG as a product uh as a SAS product. uh What we have enrolled and everything is enabled through a blockchain accessibility, any questions and operator. Yes,.

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Question from anyone.

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I think you're open to ask any questions.

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Yeah. You can maybe ask them to check that box.

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Hello, this is Nick, can I ask a question yeah sure uh my question is that what would actually drive this? So this is this a bottom-up approach that we are looking at, or is this more on a regulation front that has to come in to be able to expedite this whole process.

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To say a question: a couple of the things are going to try this when it comes to a reputation matters, things are going to change right now. um I can tell you a couple of the things right now what you are experiencing industry as such apparel industry.

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If I talk about the other textile industry, they don't require to disclosure for the norm in India, but all of the apparel plants are moving towards because the brand reputation matters and they want to show that they are doing the right thing for the third chains and they are a sustainable, sustainable company. Second aspect is that yes, the brand and the values are going to drive. Second aspect is that regulation is going to drive for sure. But again, if it is a regulation driven, it is, may not drive towards a kind of a company.

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It may drive to us what they call it as a kind of a more of a more of a green, washing kind of a thing see. The thing is that, just just to give you an example, if I am compelled to buy and offset my carbon footprint of- let's say, 100 000 from carbon footprint, then I have an option to go and buy a London climate exchange, two dollar carbon credit and offset it.

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But again when it becomes a kind of a reputation, then I need to see that what is the quality of those carbon credit is that creating a bigger, uh bigger opportunity is that creating a bigger impact on the social impact? Is that creating a real climate actions that happen? Obviously they need to pay a value for that. So that's how the things are going to be driven by forces that, yes, your branding and reputation.

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Second thing is that by the compliances, that thing is that, yes, everybody is driving versus climate, then let me let why we should be left alone. We should also drive, so that's how the things are going to be.

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uh Thank you. I just have a follow-up. If I may I understand that somebody has a question.

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So the the follow-up is that, since this is uh more of a branding issue, so a more branding seems to be one of the key things here. What is also happening is that this is more or less uh decentralized Innovation, which is happening in a everybody's trying to solve the problem in their own way without kind of having standards. So now, how do we compare these apples and oranges?

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Would there have to be some kind of international standards defined along which we will be working, or is it going to be like happening in in pockets, and every pocket is kind of going to have a different color.

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Look what I have seen for last couple of the last one to two years people are getting into see. There are a certain set of standard and the methodological process by the way, how we say that climate action, you are doing a proper sequestration or avoidance of carbon dioxide or any kind of a greenhouse gases. So these are the processing methodology which are defined by Clean development method or CDM or by wall bodies like you and CC, and these are again further refined and uh created.

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Different kind of methods by organization like there are ghosts under these are the so-called climate guardians. But having said that, right now, some people are also going off their own standard and creating a bigger Outlook, okay towards working towards zero, creating a water standard, creating a soil standards. These are things are going to get evolved. But again when we we talk up that there is concept, rules or the methodology. Let's follow on that, then you can know. If there is something is not.

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There say there is no: no, no, no defined methodology for the construction industry for the infrastructure industry to achieve their carbon footprint or to calculate their carbon input. Obviously, the new standard size they just go for people to come and Define those new standards. That is there.

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But again there shouldn't be too much of analysis out there uh getting into creating a new things which may or may not appeal or may or may not get into some sort of a uh you can say the perfect mythology or some sort of a conclusive result towards climate change.

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I think that could be a bit of a concern, but again right now, of course, when you talk about that Global Climate scenario, we have what a lot of methodologies which should be adopted, but having said that some of the things which are not there, people should get involved and create those kind of values out there, because climate is Ultimate, it's a global problem.

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It's not that uh and but again having said it's a global program individually understand we are responsible and we are aware of what we are doing and things are not going to change.

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I think Gayatri has some question.

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Can you hear me yeah I can hear.

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You yeah uh hello, sir, so I just had a quick question. So I'm, not a you know, climate activist, but I have been on the lower end of the rank of I've, been practicing. Farming and I am a technology Enthusiast for the last 10 years, maybe so seeing it from this perspective. My question to you is: uh do you see these kind of solutions like nickels or said?

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uh Do you see these kind of solutions, each of us giving coming up with our own I'm just looking at it from our perspective I as a practicing farmer? So do the solutions as well as the um as well as the scale I I'm, just wondering with the scale? Can this help these kind of solutions help us scale for the farmers who are practicing on the ground level? That is my first question and second question is: uh are this? Do you see the solutions going from top to bottom or do I as a person who's?

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A farming Enthusiast who wants to work with the farmers here on the ground have to wait for a regulatory battery to a body to actually come across, and you know settle until the dust settles. Do we guys have to wait around to have Solutions on our hand, to actually implement it? On the on the floor, he.

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Said what you you raise a very valid question now, when it comes to a climate uh climate action, what you define as a climate action of what you define you're, reducing the carbon footprint, it's it's done by a nature. Okay, you can't put a machine which will last uh absorb the carbon dioxide, carbon dioxide from atmosphere, and you say that over this much is the carbon crate. I have created. No, that's not possible.

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So when you talk of certain process and methodology, there has to be certain scientific validation to that right. This.

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A small organization, it's very difficult I'll, just tell you a simple example: let's say about creating a urban forestry kind of a scenario right now. You know that how much plant you have put out there, what.

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Is the plant diameter.

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Now, after five year, what will happen, they will start sequencing certain some sort of a carbon dioxide now how to measure that this is a quick method. You find your voice up and diameter you find out what is the mass, so you find about the specific gravity, a specific density of that plant. Then you, then you do a some sort of a mathematical form simulation to arrival. How much is the carbon sequestration could have been done?

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Okay, scientifically right, but again somebody has to Define standards.

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We can't do that right, it's a length. So what has happened? Yes, I am not saying. 100 has done at least 10 to 20 percent of the climate. Action which have been recorded has got certain process and methodology. It starts from there when you talk about the methane reduction in peripheral and methane is a greenhouse gas, and that is eligible for some sort of a carbon credit. There is certain scientific methodology to get there now. The sign says that, but again there is certain practice. You have to do so in a conventional way.

E

If your peripheral is generating around 10 tons of carbon dioxide per hectare- and you have got certain processed measure it and you do a different cell method- you do a alternating and trying where you reduce the water you just in that by 40 to 60 percent, then you have a certain apples expression number to go there. Now you talk about all this process and Method there has to be a certain package of practice. You have to adopt. Some auditor should be in their third party. Auditor should be there to validate those things.

E

Okay has to happen now these this. This is not that I can do, can I go and say that there is a and then filled and I am helping to reduce the uh requires. The highest quantity of water can I measure something on my groundnut right, it's not possible.

E

So when you talk about that, not that everything is possible for a climate action not possible, but again there are certain things which is something different. Let's say there is a. There is a we call it the the main groups, those are the blue carbon. They absorb 10 times more carbon dioxide than the than the rainforest. Yes, you have to protect that we have to measure that that creates a values. So there is a way now talk about that some simpler way. We've got all these chicken, liters and generous is.

C

E

Way to capture yes, there is a scientific way to capture that measure act and you burn that. So you are stopping that methane emission going to the atmosphere, let's say currently, so there are certain process and methodology. But again it should not be say that okay I Define something then let me go over here, but again there should be some science behind that.

G

Yeah, yes thanks so much yeah.

E

E

Yeah there is a question from Mark B. The problem is not that methodology, it's a disability, depressing between the voluntary and the uh regulatory carbon credit.

E

Yes, that's true, because voluntary carbon credits fetch the better price compared to the regulatory carbon credit, because regularly you just do it just to apply your regulation right, voluntary. What you understand by okay, there is certain values are getting created and you should this social impact is also Associated that should be priced higher.

E

Yeah, you can ask questions.

H

Hi so um yeah. This is to me the the biggest problem in the market today, um because what is more important, keeping a rainforest intact or a renewable uh waste to energy prod project in Europe, for example. What is the justification that uh that one is a hundred euros and uh keeping the rainforest up is under 10.

H

dollars? uh This to me, makes no sense.

E

That is true, rainforest should get you 100 in kilma, though, is an 8 400 right Mark. So those are the Amazon rainforest. um They.

C

E

They are getting a better value, but you can see the thing is uh the difference or something is coming just because of there is a lack of trust Factor. Now that is the biggest challenge in this climate action 2012 the market collapse because of the trust Factor. Now the technology such as blockchain other technology, is going to give you that sort of a boost on your trust. Okay, this is that real thing is happening and you should not.

E

uh You should not carry it away and the the more than that, if you put into a tokenization aspect. Obviously your property is a kind of a pretty unique on the third credit. This is a hardly a mismatch on the number or the somebody is trying to counterfeit. The thing coming to your question larger question, whether the rainforest is important or the solar project is important.

E

Both are imported in important in their respect, because Europe can't pollute more right, so you need that 100 megawatt solar project spreading about 500 hectares of land is important compared to from European perspective, but in Africa, if you have 500 hectares of rainforest. That is also important, and you have to maintain that, because world needs that to absorb those carbon dioxide. So that's the my way, I hope, I answer you something.

H

Yeah I agree they're, both important I just don't understand the price difference it. This to me, I, don't understand.

E

Not you, but again, that's that's the because of the see I think this. This scenario is going to get changed. When we talk about the climate value or the potential larger, it was around four billion dollar market opportunity going 30, 20 30. It is expected that it will reach into 50 billion dollar opportunity minimum more than 11 times. uh But again, when you talk about that 50 uh 50 billion dollar opportunity at a minimum. That is because the awareness is getting created in a bigger way.

E

More and more companies are going to look for the offsetting their carbon emission or the footprint carbon footprint. So so that's how the things are going to get changed. Obviously, the resources are going to be more demand and and the carbon credits are going to be in more demand. That's how the price is going to get stabilized I think it is going to improve in next two three years. Industry.

D

I have a just a question on that and it's somewhat related to the system, so um I look at carbon credits and offsets as a smoke screen that doesn't do any help to the environment. So if those are eliminated, um how does that impact the finance of this? Because really a carbon credit or offset is just give somebody with money the right to undo the good work?

D

You did I plan of I plant, a forest I clean up the air Bill Gates comes along and says I like to play around a private jet I'm going to buy your offsets. Well, he just puts it all back in the air there's some discussion about eliminating offsets and credits. What does that do with the financial model here? If you get rid of credits, credit sales.

C

E

This is this is a good um instead of getting into this kind of a pencil model. Rather it should be kind of a project best. Okay, are you creating a 500 hectares of green uh jungles, Green Forest, or are you creating some sort of a sustainable practice in a particular page of let's say, India in a state? Can you incentivize a group of farmer to adopt better methodology for farming techniques, avoiding chemical fertilizer, avoiding a lot of water use? Yes, that's where kind of a project-based funding, then it will.

E

It will make a kind of a bigger impact of your. But again, when you understand this aspect of creating a bigger awareness, is there a scope for people like you and me to offset our carbon guilt? Is there any opportunity right now? That is nothing, but technology can help you technology can help you to buy that one carbon to another.

E

Half of that carbon token, so that when you buy with a twenty dollar that part of the Malaysia farmer who is doing some sort of sustainability, we get benefited because the total value transformations of it at Value transfer depends through your technology. Through blockchain technology- and you know that how the things are going to get created yes till now, no Vault has not seen the power of blockchain Technologies.

E

All person, I, would say. One percent, two percent of real use cases are getting build up future is there it will be a mass option and somehow Block in with crypto get confused and things are not moving in a right direction. Well, technology has a beautiful potential to connect the dots between uh between thermit action, those who are doing Farmers or the whole ecosystem to align with the we will create a big event that is going to happen in a near future.

D

So the framework that you had before did it show away where somebody could just get direct payment from a non-government organization or a government to do good works. Was there a um in your framework a way to get direct payments? Yes,.

E

uh Okay, yeah our framework enables those kind of a payments mechanism see whatever we derive through our uh our technology as a carbon query. One third of that goes to the goes to those who contributed for that in case, in this case, is the Farmer. They get benefited immediately. Thanks.

C

E

Okay, so any questions yeah come less.

A

A

E

A

I think there's a question in the chair. There's no way I can see shared some music.

B

Yeah, thank you, so it's just I would like to know more about those other carbon credit standards. If there's a list of because I have my own carbon credit standard, I should put a link in the chat um and it's if you have all individuals are responsible for their own carbon credit instead of Corporations, then there is no scope three, because those people who work on the uh chain the uh supply chain would account for their own carbon credits that they're that they're responsible for because of their work and the CEO.

B

Would you know her carbon credits, so there are I'd like to know more about the other. Do you have a list of the other carbon standards.

E

No, we right now working with Vera and go standard, and there is something in India is called Universal carbon registry UCR. So we are working on this and more of this Vera and goes under. Are they follow the CDM and unfcc methodology and the standards? So, yes, we are not getting into our own standard and we don't have intent to get into that. What we are working on, that we believe that these people have spent their years together decades together to Define certain process and methodology.

E

Let's take those process and methodology and digitize those and keep the values. Out of that the moment you digitalize those, then you create the complete transparency and traceability and obviously you are put into the blockchain layer. It give us the complete immutability of the whole data. So that's our belief and that's how we work on certain standard.

E

We don't get into our own standard, yes, um Vera and gold standard, whatever um things right now, if you got I, think I can get in touch with one another offline with offline, and we can discuss more about your standard and your initiative on this.

B

Thank you if somebody could put a link to it in the chat to that standard that you did mention.

E

Sure so on the message: I'm leaving my mail ID. So anybody wants to talk to me. You can just drop in mail yeah.

A

E

You I, don't know: okay, yeah I got it.

A

Yeah you can test it So yeah! Thank you for joining and I think if you are doing something in climate, it's based on using blockchain, whether hyper Ledger ethereum or it could be an technology. You just can join the hybrid climate Sig and share what you're building on it.

A

So thank you I think we can yeah. Thank.

E

You everyone. Thank you for your time.

A

Yeah. Thank you. Thank.

F

A

Thanks everyone.

F

B

Can you just leave the chat open for a minute, so we can put I'll get to the links.

D

Sure I'll I'll leave it open for one more minute.