Digital MRV architecture for a transparent and inclusive carbon market
Digital MRV architecture for a transparent and inclusive carbon market
About Us
Mission
Our mission is to scale and democratize carbon credit supply by innovating the measurement, reporting, and verification (MRV) process. Thus, enabling us to become a one-stop-shop providing stakeholders with an application to transform communities and protect natural resources in developing countries.
Team
Our multidisciplinary and diverse founding team combines backgrounds in entrepreneurship, finance, law, carbon markets, and international relations. All team members have extensive on-ground business experience in Europe and East Africa.
Team Highlights:
- Raised EUR 5M+ in East Africa
- Scaled from 0 to EUR 22M+ annualized GMV and from 0 to 250 employees
- Generated EUR 4.1M+ income for smallholder farmers and local communities over the last 3 years
- Generated EUR 7M+ income for local manufacturers over the last 3 years
Challenges
The voluntary carbon market (VCM) has a scarcity, trust, and transparency problem leading to major inefficiencies and pain points for offsetting organizations and project developers:
- Immense shortage of high-quality carbon credits and projects
- Lack of transparency and credibility around credit quality and pricing
- Manual and inefficient process for measuring, reporting, and verification (MRV) of carbon projects characterized by costly, time-consuming, and human-error-prone analog procedures
- Lack of access to project funding a viable market to sell credits
Why Fair Carbon?
Fair Carbon is all about utilizing technological innovation to standardize, automate and digitalize the MRV process of carbon projects, therefore scaling carbon credit supply by making the development of projects cheaper, faster and more accessible. Within the broader ecosystem, we focus on the first part of the carbon credit supply chain, the project design and development phase, finishing with the submission of the Project Design Document (PDD) to a third-party verifier for validation and verification. We see ourselves as a “project builder” providing digitalized MRV to enable more project developers to develop more high-quality carbon projects, especially smallholder project developers in East Africa.
- Optimizing unit economics for the MRV process, thus catalyzing carbon credit supply
- Increasing transparency and credibility around credit quality and pricing
- Generating income and SDG (UN Sustainable Development Goals) co-benefits for underprivileged communities
Our Approach
We use a matrix to segment projects across (i) the stage of development and (ii) the project category. Depending on the project stage and category we apply our adaptive digitalized (d-MRV) process based on the respective methodology.
The technologies we utilize include cutting-edge innovations in (i) software, (ii) hardware and (iii) blockchain. We use remote sensing hardware to standardize and improve data collection as input for project parameters. Those parameters are fed into our AI- and ML-based algorithms that apply the input data to a respective methodology and respond with output data in the form of reports. Those reports with technical specifications are then translated into smart contracts to facilitate transactions and monetize carbon projects for project developers and communities. All data and information logs are built and transacted on a distributed ledger (blockchain) to guarantee the highest quality, integrity and traceability of the later-issued carbon credits.