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We propose to implement a carbon emissions token based on the eThaler project from the CMSIG. eThaler is a Central Bank Digital Currency (CBDC) implemented on a private Ethereum network running Hyperledger Besu. It supports a central bank which creates and mints tokens and transfers them to member banks, who would then distribute them to retail customers of the banks.
In the case of carbon emissions, it the eThaler smart contracts could support a registry authority, which could be a the following participants on a tokens network:
- Token authority – a network operator or a supranational/national/regional carbon authority (see below)
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- which authorizes a number of issuers of tokens.
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- Token issuers
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- – auditors of carbon emissions or
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- certifiers of renewable energy or carbon offsets
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- . Auditors would issue tokens based on audits of companies'
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- operations. Certifiers would issue tokens based on projects they've certified.
- Token consumers – businesses and individuals who buy REC's or offsets to offset their own emissions.
Token Types
- Emissions audit - represents the actual emissions of an organization, as reported by an auditor.
- Carbon offsets - represents reduction of emissions through projects such as forestry, sequestration, etc.
- Renewable Energy Certificates (REC's) - represents energy generated from renewable sources such as wind and solar
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