Adaptation Credits (VRCs)
Digital operalisation of the climate Vulnerability Reduction Credit™ (VRC) Framework - a unified metric for climate adaptation.
Prompt CC3: Climate adaptation action involves reducing exposure and vulnerability to climate impacts, preparedness and emergency response. Design a digital operational structure for climate Vulnerability Reduction Credits (VRCs™). Work with prompt partners to implement protocols for climate VRCs, project tracking for adaptation action verification and issuance of VRC certificates, and design of adaptation-specific applications that deploy the VRC framework in the field.
Prompt Host: Adaptation Ledger (Lisa Granquist) | The Higher Ground Foundation (UK) Karl Schultz, with DLT guidance from Tom Baumann at Adaptation Ledger Ltd.
Collabathon Discord Channel: #adaptation-vrc
@lisag#4289, @Karl#9805
to design and roadmap development of VRC tokens and DLT framework. Helping us along to get organised and share experience are @raphabenoi#9708 and @Josh#3602.
Climate Adaptation Accounting_Open Climate Collabathon_April 2020-web.pdf
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Our April 25, 2020 Launch Week presentation with Q&A and discussion will be posted on the YouTube channel.
By solving this prompt, you will contribute to building the digital backbone of the world’s first climate vulnerability reduction credit framework—the Vulnerability Reduction Credit (VRC)--- through which climate vulnerability activity can be measured and monetized using a common metric (Euros of present and future value protected). By generating, tokenising, and selling or banking verified VRCs, a project proponent creates a tradeable value stream from climate adaptation activities and contributes to global framework planning, development, and monitoring.
Climate adaptation, or reducing the vulnerability of individuals and communities to current and future climate change, is widely understood to be as urgent a task as the elimination of GHG emissions. Although international bodies have set ambitious goals for financing adaptation, to date the level of funding activity for adaption and the effort spent on the monitoring of adaptation results have not nearly matched these goals.
The development of a VRC digital framework and its tokenisation via distributed ledger functionalities will require a broad variety of tools or skills. The challenges include developing an IoT capability to capture and integrate data reflecting the ground truth on climate change and adaptation, a secure online ecosystem for automating the project development, credit issuance, and smart contracting processes, useful and engaging UX and UI interfacing to enable smooth and secure interfacing with these systems, and, above all, a roadmap for bootstrapping the project development process of this massive task. We therefore invite you to look over the task batches below to see where and how you may wish to contribute to the design of a digital operational structure for the management of the climate Vulnerability Reduction Credit framework.
In brief, you will develop protocols for climate change adaptation project designs and plans embodied on the platform in the form of, for example, project design documents and governing smart contracts for adaptation VRC verification, and sector-specific applications that will estimate VRCs and climate impacts of on-the-ground adaptation projects.
- 1.Problem framing (both climate and technology):
- 2.Relevant Docs and Code to Review:
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- 4.VRC definitions See VRC SF, Section 0.1.2 Definition of VRC
Vulnerability Reduction Credit (VRC) - A measure of the monetised cost of the estimated impact of climate change, as adjusted for the income level of the Community, to be avoided as a result of the Project. VRC is an unregistered trademark owned by Climate Mitigation Works Ltd., a limited company in England and Wales. See also Vulnerability Reduction Certificate. Vulnerability Reduction Certificate (also VRC; also VRCert) - The formal certificate issued for Projects representing the monetised cost of the estimated impact of climate change, as adjusted for the income level of the Community, to be avoided as a result of the Project. VRC is an unregistered trademark owned by Climate Mitigation Works Ltd., a limited company in England and Wales. See also Vulnerability Reduction Credit.
- 1.Vulnerability Reduction Project Manager (offline tool for developing VRC projects): https://www.thehighergroundfoundation.org/vulnerability-reduction-project-man