Today’s carbon markets are complex and fragmented.
A lack of centralised registries between voluntary and compliance markets poses a serious challenge to ensuring maximum transparency in the market.
By connecting registries through a decentralized digital infrastructure, and making the information publicly available, we aim to mitigate the risk of double counting and enhance the integrity of markets.
With a decentralised and secure digital infrastructure, the services built by the public and private sector such as compliance reporting, transacting, and benchmarking can be easier and more effective.
We believe that transparency and accountability are critical to a well functioning carbon market to accelerate climate action across both public and private sector.
Through the Data Trust concept, we aim to harness key market data to foster collaboration, facilitate innovation and enhance confidence in the market.
A common data taxonomy that enables reconciliation of data from registries. Through blockchain technology, it facilitates a peer-to-peer connection among decentralized registries with the aim to link, aggregate and harmonize the underlying data.
Provide visibility into corresponding adjustment procedures and the lifecycle of carbon offsets from issuances to retirement, which will safeguard against double counting and ease reporting requirements.
Surface publicly-available information on MOs and record status changes to provide information on how MOs are used.
Enhance transparency and trust among market participants and enable tracking of MOs and reduce double counting risk. The Climate Warehouse would not hold assets or directly facilitate.
Help to operationalise processes under Article 6 of the Paris Agreement such as compliance reporting and registry data model development.
The Climate Action Data Trust is an independent entity domiciled in Singapore and led by the Council and the Board, and supported by the Technical Committee, User Forum and the Secretariat.