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Innovation Tagline:  we build finance engine that converts climate-related risks and carbon-related assets into sustainable value

Project Keywords:  #sustainability, #sustainablevalue, #sustainablefinance, #ESG, #climatechange, #climateaction #climaterelatedrisks, #greenfinance, #hyperledgerfabric, #Electrodo, #TCFD, #FinTech, #tokenisation, #blockchain.

Project Members

  1. Evgen Merzliakov Roman Kravchenko андрей спивак Leonid Khatskevych @Alex Shehovcov @Dmytro Kholodov @Valeriia Volkovych

Prototype Outcomes

a. Pitch Deck

b. Project repository link(s)

c. Link to deployment playground : where your solution is hosted (optional)

d. Upload demo video

  • youtu.be


Solution


a. Describe the solution

Electrodo - software service for climate-related assets and risk management to increase enterprise market value. Electrodo solves the problem of data/context integrity, data/context reliability, and trust for carbon-related assets lifecycle, climate-related risk management, and ESG reporting by using a standardized framework based on TCFD Recommendations and data verification on the blockchain (Fig. 1).

Using Electrodo companies can track and trace carbon-related assets, set climate-related impact targets and follow up on their progress. Those targets and progress measures may also be accessed by environmental agencies, investors, lenders, insurance underwriters to improve capital-allocation decisions. As result enterprises get financially material outcomes and measurable motivation for sustainable transformation by: getting access to green financing mechanisms (e.g. green investments, green bonds issuing, green funds etc.); avoiding carbon taxes (e.g. CBAM in EU); avoiding loss of stakeholders (e.g. investors, customers, suppliers) and increasing enterprise market value.

Fig. 1 - System architecture

During the Prototype Challenge, we developed a prototype ElectrodoDoc (Fig. 2) that implements the basic functionality for the climate-related disclosure service based on Hyperledger Fabric, FIWARE context broker (Orion), and IPFS protocol. Our solution demonstrates ESG data/context management and self-verification principles in terms of climate-related disclosures' lifecycle: data/context collection and processing, data/context verification, and publication of sustainability report in line with TCFD Recommendations framework.

Fig. 2 - System architecture of ElectrodoDoc


b. Explain why your solution is better than current state-of-the-art or existing solutions

Existing solutions focus only on the ESG or climate-related data/context management and don’t solve the cornerstone problem of creating and managing sustainable (shared) value.


c. Does your solution have any Environmental, Social or Governance impact?

Our solution directly provides ESG impact by solving the problem of ESG data/context management, sustainable asset management and help companies implement a corporate ESG strategy. Our solution contributes to the Hyperledger's Climate Action and Accounting Special Interest Group (CA2SIG) and we have been participating in this SIG since April 2022.


d. Did you socialise your project or interact with the community? If yes, what notes did they give? Please tag their LFID username with "@".

We have been actively involved in the SIG Climate Action and Accounting Special Interest Group since April 2022 thanks to excellent mentoring and facilitation from Woody Moore  (Challenge Ambassador of our project Electrodo), Si Chen and Robin Klemens.

You can also get more details about our community activities:

Project Plan

a. What does project growth plan look like? What timelines are you looking at?

  1. SG data/context management and self-verification principles in terms of climate-related disclosures lifecycle:
    1. data/context collection;
    2. data/context processing;
    3. data/context verification;
    4. data/context distribution: publication of sustainability report.
  2. June-July 2022 (Launch Challenge)
    1. Development Decentralized Autonomous Organization (DAO) for Voluntary Ecological Market.
    2. Implementation templates for Asset Management (two types of carbon credits of the Voluntary Ecological Market).
    3. Advanced integration with FIWARE context broker (Orion).
  3. August - September 2022
    1. Improved version of Reporting (TCFD Disclosures) service.


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