Wes Geisenberger, VP of Sustainability & ESG at The HBAR Foundation writes in a blog post, “Hedera & the HBAR Foundation are proud to announce the first open source reference implementation of the IWA Voluntary Ecological Markets (“VEM”) Standards. This framework includes a Policy Engine for creating digital monitoring, reporting, and verification (MRV) with an auditable and discoverable link to ESG assets such as carbon emissions, carbon offsets, renewable energy certificates (REC’s), or conservation tokens following the Species Threat Abatement and Restoration (STAR) metric.

The outcome of this implementation is that any project building on Hedera will be able to quickly develop an ESG asset that enables a policy driven approach for defining projects like a carbon removal following a scientific methodology and the required auditable data for specific attributes such as the vintage year, geography, additionality, durability, and leakage. These carbon removals will be discoverable, as tokens on Hedera, and auditable to the sub-metric tonne through links to the data used to generate the asset following HIP 19. Ecosystem participants will be able to look up the roles and actors attesting to the MRV data tied to specific metric tonnes. This means when someone wants to prove a specific action, actors can see when devices used to measure were certified, audited, and what scientific protocol is being used for measurement, who implemented it, when the framework was audited, etc. The benefit of this is by defining each complex workflow across actors, data, and their relationship what once was siloed and required complex verification steps can now be audited on Hedera following HIP 19 and HIP 28 and discovered by asset type, down to the specific emission.”

The solution is called the discussed in the blog post above is called the “Guardian.” The Guardian is a modular open-source solution that includes best-in-class identity management and decentralized ledger technology (DLT) libraries. At the heart of the Guardian solution is a sophisticated Policy Workflow Engine (PWE) that enables the ability for applications to offer a requirements-based tokenization implementation. 

How can you contribute?
Build and Issue: Explore the Guardian Github Repo and join the ecosystem of free and open source builders in the Hedera community in creating new carbon markets initiatives. Sustainability and ESG developers can create sustainability tokens, and help others meet their sustainability goals.

Read the full blog post here

About Envision Blockchain Solutions

Envision Blockchain Solutions is a Blockchain Ledger Agnostic Systems Integrator. Our mission is to reshape and align today’s Enterprise systems allowing organizations to recognize the new value in tomorrow’s Industry Vertical Solutions. The management team has years of Fortune 500 experience and has built a team of subject matter experts in Blockchain and Business Transformation Processes within Emerging Technologies. We focus on guiding organizations through 3 major milestones on their Blockchain journey: Use Case Analysis, Proof of Concept Development and Enterprise Scaled Deployments.

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ABOUT US

Envision Blockchain Solutions is a Blockchain Ledger Agnostic Systems Integrator. Our mission is to reshape and align today’s Enterprise systems allowing organizations to recognize the new value in tomorrow’s Industry Vertical Solutions. The management team has years of Fortune 500 experience and has built a team of subject matter experts in Blockchain and Business Transformation Processes within Emerging Technologies. We focus on guiding organizations through 3 major milestones on their Blockchain journey: Use Case Analysis, Proof of Concept Development and Enterprise Scaled Deployments.

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