Carbon credits club

A platform that allows forest areas to monetize the carbon offsetting properties to be put back into conservation of these areas.

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Eligibility Criteria

  • I confirm that I am fully aware of the eligibility criteria and terms of the Act for Biodiversity Challenge and that I am eligible to apply.
  • I am 18 years old or older.

Initiative's representative name

Jason Smythe

Initiative's representative date of birth

3/2/1994

Initiative's representative gender

  • Man

Headquarters location: country

  • France

Headquarters location: city

Paris

Where are you making a difference?

Global

Website or social media url(s)

https://carboncredits.club

Date Started

10 / 2019

Project Stage

  • Start-up (first few activities have happened)

Yearly Budget : What is your current yearly budget for the initiative?

  • Less than €1k

Organization Type

  • For-profit

1. Founding story: Share a story about the "Aha!" moment that led the founder(s) to get started or the story of how you saw the potential for this project to succeed.

At the 2019 Diffusion Hackathon in Berlin the Wildcards team who had recently moved to Paris to work on Wildcards.world flew to Berlin for the weekend to expand their research and experimentation in radical markets and conservation. Inspired by a story read where Norway was paying Gabon to preserve their forests in exchange for the carbon offset the trees produce. The team thought this a strong use case for always for sale. The Team were the winners of 4 track prizes with their project Carbon Credits Club.

2. The problem: What problem are you helping to solve?

"Every year, we lose over 18 million hectares of forest" - Changemakers :) Forests are a public good, this means that the public benefits as a whole from the preservation of forests, unfortunately there is a greater incentive (profit) at an individual level for corporations to cut down trees and deforestation. This often results in misaligned motivations and incentives for the preservation of forests.

3. Your solution: How are you working to solve this problem? Share your specific approach.

The carbon credits club platform allows monetisation of land without deforestation. The platform connects users and companies that want to offset their carbon footprint to forestries capitalising on the carbon absorbing characteristics of the forest funnelling funds into preserving these forests further. The project is only at POC stage. The platform allows users to purchase the rights to the carbon credit returns of a portion of forest. The owner of the rights to this portion of forest sees a return of carbon credits that are generated based on the size of the forest and offset properties. The owner of these carbon credits can either sell the carbon credit tokens on secondary markets or burn the tokens verifiably offsetting their carbon footprint. The radical market model comes in that the rights to the portion of land is always for sale causing arbitrage and price efficiency of carbon credits.

4. Innovation: How are you innovating or using unique approaches to solve the problem?

Radical Markets and blockchain. The carbon credits club uses an always for sale model to represent the rights to the returns of the portion of forest. An always for sale model results in price efficiency through arbitrage. The portion of the forest is bought by someone that wants the carbon credit returns of the piece of forest, as soon as they purchase the land they are immediately required to set a sale price on the portion of forest, while they own the token representing the plot of land they earn carbon credits continuously, they are incentivised not to set the sale price to high as they pay a percentage of their selling price to hold the token. The carbon credits club team uses the blockchain to act as a verifiable, transparent layer.

5. Collaboration: How does your initiative seek to bring key players together to preserve biodiversity?

Our platform hopes to create a tangible connection between forest conservation and people who want to verifiably offset their carbon footprint. We allow the wealthy in first world countries to support conservation in under funded areas through the preservation of natural forestry.

6. Impact: how has your project made a difference so far — in terms of both business outputs and social impact? How do you plan on measuring progress?

The project has no impact yet and is still in its development stages.

7. Growth strategies: what are your main strategies for scaling your impact?

Forest Conservation Partnerships Creating a secondary market for carbon credits

8. Creating shared value: How does your initiative create value for society? Or different stakeholders?

We allow for the preservation of forests by linking the prosperity of the forests to a monetary return and thus benefit the forestry conservations, the traders of carbon credits and people who benefit from a cleaner climate through the expansion of forests.

9. Financial sustainability plan: can you tell us about your plan to fund your project and how that plan will be sustainable in the short, medium, and long term?

The project is worked on a part time capacity and the team is supported through other endeavours.

10. Team: what is the current composition of your current team (types of roles, qualifications, full-time vs. part-time, board members, etc.), and how do you plan to evolve the team’s composition as the project grows?

Core Team - Part time Jason Smythe - German / South African - Computer Engineer / Blockchain - BSc (hons) Computer Science Denham Preen - South African - Computer Engineer / Economics / Marketing - BSc (hons) Computer Science Jonjon Clark - Swedish / South African - Computer Engineer / Data Science / Business - MSc Data Science

11. How did you hear about this challenge?

  • Recommended by others

Evaluation results

6 evaluations so far

1. 1) OVERALL EVALUATION

Yes, absolutely! - 16.7%

Yes/maybe - 66.7%

Maybe - 0%

Maybe/no - 16.7%

No - 0%

2. 2) CONNECTION TO BIODIVERSITY

5 —Absolutely! It’s crystal clear how the solution is directly contributing to preserving and/or restoring biodiversity. - 33.3%

4—Yes, it establishes a clear connection to biodiversity. - 50%

3—Somewhat, the entry speaks to biodiversity but the direct impact is not well established and/or it is focused on a single species without considering its impact on the broader ecosystem - 16.7%

2—Not really, the connection to biodiversity is weak - 0%

1—No. The entry does not reference the solution’s impact on biodiversity. - 0%

3. 3) Is this entry IMPACTFUL?

5 -Yes, absolutely! - 16.7%

4- Yes, I think so. - 16.7%

3- Maybe. - 66.7%

2- Probably not. - 0%

1- No. - 0%

4. 4) Is this entry INNOVATIVE?

5 -Yes, absolutely! - 33.3%

4- Yes, I think so. - 33.3%

3- Maybe. - 33.3%

2- Probably not. - 0%

1- No. - 0%

5. 5) Is this entry VIABLE financially and operationally?

5 -Yes, absolutely! - 0%

4- Yes, I think so. - 16.7%

3- Maybe. - 66.7%

2- Probably not. - 16.7%

1- No. - 0%

6. 6) Is this entry ACTIVATING CHANGEMAKING?

5 -Yes, absolutely! - 16.7%

4- Yes, I think so. - 50%

3- Maybe. - 16.7%

2- Probably not. - 16.7%

1- No. - 0%

7. 7) Does this entry value COLLABORATION WITH OTHER STAKEHOLDERS in its approach?

5- Yes, absolutely! - 16.7%

4- Yes, I think ko. - 50%

3- Maybe. - 16.7%

2- Probably not. - 16.7%

1- No. - 0%

8. 8) FEEDBACK – Highlights

INNOVATION: You have a great understanding of the problem, have researched existing solutions, and have developed unique, thoughtful new solutions - 100%

IMPACT: You use specific numbers and evidence to describe what your project has achieved so far (or plan to achieve in the future) and you have a plan for measuring impact - 66.7%

GROWTH & LEADERSHIP POTENTIAL: You have a thoughtful plan for growth and your founding team has a strong combination of leadership and knowledge-based skills - 66.7%

VIABIBLITY: You have given a great deal of thought to not just the idea itself but how to make it work from a financial perspective in the present and future - 33.3%

CHANGEMAKING ACTIVATION: You value thinking around how to activate changemakers and empower them to innovate through your product or programming - 100%

POTENTIAL TO CREATE SHARED VALUE: You have a clearly defined plan on how to maximize shared value across multiple sectors and stakeholders - 100%

WRITING STYLE: Your writing style is concise, descriptive, clear, and specific - 33.3%

Other option - 0%

9. 9) FEEDBACK - Areas for Improvement

INNOVATION: Be more specific in your description of the research you have done into the past solutions to this problem and focus on how your solution is unique and innovative - 100%

IMPACT: Provide specific instances of your social impact and how you plan to measure impact – it may be helpful to describe the beneficiaries, products and programming, and provide evidence of (or plan for) how to measure impact - 66.7%

GROWTH & LEADERSHIP POTENTIAL: Your plan for growing the organization can benefit from more specifics. How can you round out the various skills of your current leadership team to make the project a long-term success? - 0%

VIABILITY: Make sure you have provided descriptive information about your financial sustainability plan. Where do the funds come from now and do you have a concrete plan for future sustainability? - 100%

POTENTIAL TO CREATE SHARED VALUE: your plan can benefit from more thought on how to create value for all stakeholders, not just immediate beneficiaries - 33.3%

WRITING STYLE: Try to be more concise, descriptive, clear, and specific. Avoid jargon. - 33.3%

Nothing – I thought everything was great! - 0%

CHANGEMAKING ACTIVATION: Try to provide more insights into how you are activating changemakers and empowering them to innovate through your product or programming - 0%

Other option - 0%

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