Published Tue Oct 05 2021
Klimates, we surpassed our loftiest ambitions with our aKLIMA Fair Launch Auction on Copper. We’re now moving forwards at pace, and gearing up for the protocol’s launch in the coming weeks.
The critical next step for KlimaDAO is to ensure that the 220,000 aKLIMA, alKLIMA and KLIMA distributed via the LBP, Crucible Rewards and the IDO are backed at a 1:1 ratio by BCTs in the treasury. Furthermore, KlimaDAO requires sufficient BCT liquidity to be available in the market to enable ecosystem activity and growth right off the bat. To achieve these requirements, we expect around 1,600,000 tonnes of carbon to be brought on-chain in the form of BCTs in the near-term. For context, that’s the equivalent emissions of around 300,000 Westerners, or the emissions 3.8 million barrels of oil… or the emissions of 1.1 million transatlantic flights from New York to London.
Projects that will be onboarded into the ecosystem range from renewable energy projects lighting up rural regions of India, China, and Turkey, to forest protection projects ensuring the world’s most biodiverse hotspots remain safe from destruction.
Below, we outline some of the projects that we will see in the KlimaDAO ecosystem.
Located in Borneo’s southeast and stretching for almost 100 kilometers from North to South along the borders of the Tanjung Puting National Park, the Rimba Raya Reserve covers around 64,000 hectares. The project area is home to an array of endangered species, including the endangered Bornean Orangutan. Rimba Raya is certified under Verra’s carbon standard as well as its Climate, Community & Biodiversity standard. The project’s social and economic benefits are achieved through financing a variety of community based initiatives, including water filtration infrastructure and shrimp aquaculture co-operative establishment.
Bornean Orangutans are one of many endangered species that have refuge within the Rimba Raya Reserve
The objective of the Pacajai REDD+ Project is to protect nearly 166,000 hectares of biodiverse forest in the state of Pará in Brazil. The project also works closely with the local Riverine people who are settled in the project area and depend on the forest for their livelihoods. The project is assisting these locals in securing land tenure rights, which helps protect it from outside access and interference. Further initiatives taking enabled by the Project work range from sustainable bee keeping activities, to training opportunities in sustainable agroforestry practices. The project also includes the Climate, Community & Biodiversity (CCB) certification, a testament to its strong positive social and environmental impacts.
Supporting the decarbonisation of India’s grid is of global importance. To-date, around 75% of India’s electricity mix is from fossil fuels and the power system itself is responsible for around 50% of the country’s total emissions (2.5 billion tonnes per year) making it the third dirtiest in the world (after Poland and South Africa). Enabling investments into renewables power projects can help to curb India’s runaway annual CO2 emissions by scaling-up clean technologies and displacing fossil fuel assets. The estimated annual emission reductions from the project activity at Jaibhim is 52,898 tonnes of CO2.
According to International Energy Agency data, just 4.23% of India’s total energy supply came from solar and wind in 2018, despite the countries vast solar and wind resource. This demonstrates the critical need to support the scale-up of low carbon technologies across the country.
The project is home to approximately 7,186 ha of commercial forest, with ages of trees ranging from saplings, to mature forest. Before the implementation of the project, the forest within the project area was designed and planted as commercial forest, and logged annually according to the timber logging and managing plan issued by the local forest authority. The main objectives of the project are to improve the forest coverage rate, protect the local ecological environment, and enhance carbon sequestration by improving the management of the area and converting logged forest to protected forest within the area. Over its 20 year lifetime, the project will help sequester 1,051,228 tonnes of CO2.
Woodland accounts for 65.95% of the total area within the Fujian Yong’an Improved Forest Management Project.
The KlimaDAO core team are working tirelessly to get the final pieces in place. We will make a further announcements shortly, including a launch date and guidance on bridging across to Polygon.
For now, sit back, and enjoy the regenerative impact our protocol and collective efforts are already having, as we begin the process of internalising the positive impact from these projects into the KlimaDAO Treasury.
The information provided in this Medium Post pertaining to Klima DAO (“Klima DAO”), its crypto-assets, business assets, strategy, and operations, is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction and its content is not prescribed by securities laws. Information contained in this Medium Post should not be relied upon as advice to buy or sell or hold such securities or as an offer to sell such securities. This Medium Post does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Klima DAO and its agents, advisors, directors, officers, employees and shareholders make no representation or warranties, expressed or implied, as to the accuracy of such information and Klima DAO expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Klima DAO reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this Medium Post supersedes any prior Medium Post or conversation concerning the same, similar or related information. Any information, representations or statements not contained herein shall not be relied upon for any purpose. Neither Klima DAO nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this Medium Post by you or any of your representatives or for omissions from the information in this Medium Post. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed in this Medium Post.