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KlimaDAO began long before its individual members knew of each other. Each, in their own way, had begun to explore the potential of this emergent paradigm in decentralized finance and stood in awe as innovations began to emerge. KlimaDAO’s infrastructure is but a framework standing upon the shoulders of giants. Ethereum, Polygon, Balancer, to name but a few.
Most importantly, KlimaDAO was given the incredible opportunity to build off of the work of OlympusDAO and channel its innovations toward delivering finance to high-impact carbon sequestration and mitigation projects.
When we began this journey together we drafted a number of manifestos; slowly but surely we wove them together to form a vision which united each of the founding members. Unequivocally, we agree that climate change is the ultimate issue—the Earth is a fine place and worth fighting for.
The climate change context
We are on the brink of missing the opportunity to limit global warming to 1.5°C above pre-industrial levels. If we rely on the existing policy commitments of governments, we should expect temperatures to rise 3.2°C this century. People are already losing their homes and lives to a changing climate and the rate of destruction is accelerating. We cannot wait any longer.
Establishing the low carbon economy is a key task. The carbon economy will internalize the true cost of carbon in every transaction, facilitate market-based instruments for its trade, and incentivize decarbonization across the economy.
Many of the carbon mitigation technologies and solutions required to decarbonise are here and commercial today, they require investment to scale-up. There are also emerging solutions which require innovation investment to ensure they can commercialise, penetrate the market, and begin delivering emissions abatement and reductions at scale. There are also key interventions that require a philanthropic approach to investment that may not have direct reward on capital, but will be instrumental in protecting our environment and rebuilding our ecosystems to both temper the impacts of climate change and reduce the rate of change.
KlimaDAO will provide a direct route to invest in these avenues of action.
Critically, we believe that climate change is a money problem and a coordination problem. $100s of billions are still poured into oil and gas each year, even when viable alternatives to generate energy and produce commodities are present. There is a collective sentiment across the world that action is required, yet we are still in stasis. To get a grip on what needs to be done, we need to address financial and organisational barriers, immediately.
The power of the blockchain is unrivaled
To deliver the change required, we need immediate and widespread mobilisation and coordination of those that can contribute, and those that want to participate. The change needs to be managed laterally and co-operatively, rather than top-down by those who are unaccountable.
Blockchain & Ethereum can enable this:
DeFi can efficiently deliver a step change in the way we collectively pool our capital to deliver impact.
Smart contracts can disintermediate, facilitate and automate, and enable novel reward systems.
DeFi technologies can enable coordination, collaboration and innovation, with transparency and accountability.
Open source software and composability can enable rapid scaling of this vision.
Blockchain can and will open up new ways for managing our resources and collaborating across networks in the coming years. It will be the foundation for us to efficiently coordinate resources, outpace stale bureaucratic and political processes, and remove the need to jump through hoops required to get exposure to the low carbon ecosystem.
Our first steps as an organization were made between disparate allies that had little idea of each other’s existence. Over time, the stars aligned such that our activities in the DeFi and sustainability favored coordinating together and building what is now KlimaDAO.
As we progress, our Decentralized Autonomous Organization will invite participants from within and outside the DeFi space to organize, share, coordinate, and push the boundaries of what is possible. Our team gives a heartfelt thanks to everyone who put their skin in the game, including our early supporters. Together, we stand with open arms to all those who wish to contribute to this endeavour as we walk forward together.
This is just the beginning of what we will build. Klima Pistos. Learn more: Introducing KLIMA, an algorithmic carbon-backed currency.
Disclaimer: The information provided in this blog post pertaining to KlimaDAO (“KlimaDAO”), 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 blog 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 blog 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. KlimaDAO 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 KlimaDAO expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. KlimaDAO 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 blog post supersedes any prior blog 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 KlimaDAO 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 blog post by you or any of your representatives or for omissions from the information in this blog post. Additionally, KlimaDAO undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed in this blog post.