Connecting the National Carbon Accounts of the world to enable cross-border collaboration in emissions reductions.

The BITMO Platform

Blockchain for Climate Foundation created the BITMO Platform to enable issuance and exchange of “Blockchain Internationally Transferred Mitigation Outcomes” (BITMOs) - initially as ERC-1155 Non-Fungible Tokens (NFTs) and now, as ERC20 fungible tokens on the Ethereum blockchain. Each token, equivalent to one tonne of CO2 equivalent has all pertinent carbon credit data embedded right into the individual token.

Amongst all the compelling uses of blockchain technology to address climate change, we have focused on building a pathway for countries of the world to finally operationalize Article 6 of the Paris Agreement. This critical, incomplete article lays out the rules and procedures for international collaboration on emissions reductions and governance of cross-border carbon markets. It is our hope that the BITMO Platform can fulfill a critical infrastructure role by enabling corresponding adjustments and immediate settlement of trades for national carbon inventories. Emissions reductions outcomes are the most important, and soon to be among the most valuable, assets of the world. The BITMO Platform, built on Ethereum, links opportunity to reduce emissions with capital and demand, creating the future we need, faster.

Join the National Parties Working Group

Adoption of the BITMO Platform is ultimately up to each national signatory to the Paris Agreement. With the (Q4 2023) launch of our v2 BITMO Platform, we are convening a working group of National Parties (the entity within national governments responsible for engaging with the UNFCCC) to experiment with this prospective tool to operationalize Article 6 of the Paris Agreement using the blockchain.

National Party participants, and other interested demo participants will be allocated a “Country” on the demo platform, and be able to issue, exchange and retire demo BITMOs. This experience has often generated insight and delight among participants, as they see how smoothly blockchain-enabled carbon trading can be. Participants will be invited to provide feedback on existing design and plans, highlighting both aspects of good fit, as well as any items that may be showstoppers for their adoption of this blockchain technology. Our ultimate goal is to create champions and users of the BITMO Platform, including 2+ countries willing make an Article 6.2 ITMO transfer as soon as feasible.

If you, or a National Party you know are interested in helping create the future and deliver the tools needed to execute ITMO transfer across borders, please let us know.

Building Trust in Carbon Markets

Climate change can only be beaten with international collaboration. Well-functioning, efficient,trusted carbon markets allow capital to flow where it can be best used to reduce emissions and make life better. Internationally Transferred Mitigation Outcomes (ITMOs) contemplated under Article 6 of the Paris Agreement hold unparalleled promise as a vehicle to enable a powerful global carbon market. Yet in the flexibility and adaptability of ITMOs lie their potential undoing - as issuance of an ITMO alone will not be sufficient to ascertain underlying quality. Unmitigated, this presents an unacceptable risk to market participants and overseeing governments. Blockchain for Climate has designed the BITMO Dashboard to allow fast, easy, transparent demonstration of ITMO quality - enabling governments and buyers to easily assess and trust the quality of emissions reductions outcomes.

Canadian Carbon Account Working Group

Canada is a focus of our initial work to put an individual National Carbon Account on the Blockchain. By undertaking this work, we aim to unlock a massive shift towards investment in landscape-based projects, triggered by Canada’s 2020 inclusion of “anthropogenic landscape management” carbon emissions on its National Carbon Account.

“Humanity will beat climate change when we work together, and trust each other.”

- Joseph Pallant, Founder and Executive Director, Blockchain for Climate

Our Sincere Thanks

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