The Open Climate Accounting System is an open source initiative exploring the application of distributed ledger technology (DLT) and other emerging technologies, such as IoT (Internet of Things), big data and machine learning, to the challenge of helping the world keep a transparent climate accounting system towards the climate targets set in the 2015 Paris Agreement—i.e. maintaining anthropogenic warming below 1.5oC.
Global climate accounting - the process of recording climate actors and their actions in respect to the shared account of the planet’s climate state, occurs in diverse set of registry platforms that are individually centralized and collectively dispersed and unlinked. This is often due to lack of trust between actors, resisting to share data that exposes them to scrutiny.
This project involves a software ‘platform of platforms,’ distinguished here as the Open Climate Platform, the development of climate communication protocols, and a shared user interface as portal to the system. The Platform acts as a common integrator that can reconcile climate records and functions from both legacy and DLT-based climate platforms in the pursuit of helping maintain a decentralized ‘ledger of ledgers’. With climate actors and their associated records mapped in a shared network— ranging from countries, to companies to individuals— DLT and other cryptographic tools are primarily used to:
Provide general transparency alongside individual data privacy
Prevent double counting in the digital certification and trading of climate actions
Create contractual automation of rules and mechanisms with financial nature (from Paris Agreement stocktakes to carbon pricing and rewards for mitigation outcomes)