Innovation Tagline: Using the blockchain to create supply chain incentives to reduce 1 Gt CO2e of from methane flaring and fugitive emissions
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- CI of oil & gas supplied (Fuel trade out) -> flared gas + leakage / fuel outputs
- CI of Refined fuel trade -> other emissions (e.g., electricity/heat, flue gases) / refined fuel out
The consume consumer can reduce (or compl)y with a desired CI standard by purchasing carbon tokens from a low methane supplier. This token transfer could be arranged without physically taking delivery of the fuel. The NFT(s) simply provides a methane performance certificates for the output fuel tokens, helping producers with lower carbon intensity to obtain greater value for their products. A CI certificate is simply a transferrable claim of origin backed up by data. It is similar to a Renewable Energy Certificate (REC), but whereas a REC attests that electricity produced is from a renewable source, the CI certificate attests the total emissions of the fuel produced.
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Si Chen is the founder of Open Source Strategies, Inc. and coordinates the Carbon Accounting and Certification WG of the hyplerledger Climate Action and Accounting (CA2 SIG). He is the author of the open source book, Open Climate Investing, and a co-editor of an upcoming book "Sustainable Carbon Economy with Blockchain: The Role of Oil and Gas Industry in The Energy Transition".
Woody Moore is currently acting Co-chair of the Climate Action and Accounting Special Interest Group (CA2SIG). He holds a Masters in Business Administration with 10+ years of experience planning and executing Go-to-Market strategies for early stage tech start-ups. He also has expertise in the field of internet governance, where he supports ICANN's (Internet Corporation for Assigned Names and Numbers) multistakeholder decision-making model to help the global community reach consensus around the protocols, standards and policies needed to support the security, stability and resiliency of the internet's Domain Name System.
b. Identify talent/resource gaps and needs (Do you need more support developing the blockchain solution? Do you need support with front end development? Do you need support developing the business model?)
Project Plan
We set the following goals for the a prototype methane reduction C-NFT
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