Recently, the ‘W (W) Foundation’ has emerged as an issue in the carbon credits industry. They will work with the United Nations Framework Convention on Climate Change (UNFCCC) to launch the campaign “Cliimate Neutral Now”.
They were the first to make a one-ton carbon offset cancellation event at the time of pre-booking. In December, HOOXI app will be introduced. W Foundation said in an interview with the app that individuals can cut greenhouse gas emissions and participate in the UN Climate Change Convention carbon offsetting campaign. The company has raised about 5 billion won through the ICO.
I am very interested in the block-chain carbon credits platform. He is also the director of Korea Carbon Finance Association. W I was interested in the Foundation, and I checked the facts of their business and interviews with friends, such as the Ministry of Environment, banks and researchers. The answer was ‘it seems to be a lie’.
The UN Carbon offset platform confirms that the W Foundation’s business is not registered with the UNFCCC. Their business type is not in the Clean Development Mechanism (CDM) methodology for carbon emissions, nor can it be a CDM methodology before that.
It is also a matter of verifying whether individual reductions in carbon emissions. W Foundation’s HOOXI apps do not recognize reduced emission reductions. It was merely a statement that “it follows the UN carbon-neutral campaign process.”
In an interview with the media, the Ministry of Environment also dismissed the idea of ”allocating carbon credits to individuals without discussing them at all with the Foundation, and it is impossible to realize.” The W Foundation has suddenly changed its words and conducted an interview with the media again saying that it does not matter if the carbon credits are not allocated. …
IETA have held a members and partners forum on 10th of October at KPMG office of Gangnam Finance Centre in Seoul, South Korea. In this meeting, Kenneth Jung who is Executive Director of CCET Project presented the utilization of blockchain for carbon market linkage.
Based on this subject, CCET Project has been introduced to be applied to utilization of blockchain system for the international carbon emissions market including North East Asia carbon market which is closely related to K-ETS as domestic scheme. Kenneth Jung of CCET and Stefano De Clara, Director of IETA were presented for the international carbon emissions market linkage in this session. This presentation was linked with ‘PARIS AGREEMENT ARTICLE 6’ and usage of blockchain in the carbon market, one of key agendas of the upcoming COP 24 meeting on 4 December in Poland. This announcement emphasized that the linkage of carbon credits market is one of key factors in determining success of the carbon market and it can solve the problems by utilizing blockchain system with transparency and efficiency. …
Every year our planet is suffering from global warming and many people are suffering and dying.
The CCET Project is a Smart Contract Platform development project on “mandatory carbon credits generation and trading” for greenhouse gas reduction.
It is fundamentally different from the development of a commercial block chain that is now booming in Korea, and it is a project for the global environment that someone must solve to reduce greenhouse gas.
Our project does not end up in Korea.
It is spread out to the underdeveloped countries such as Africa, Central and South America and Asia that suffer from a rapidly changing global environment, and for us and our descendants. It was not practically possible until 2005 Kyoto Protocol and the 2015 Paris agreement. Greenhouse gas reduction activities were in very slow progress until the protocol and the agreement has been announced. Our project is a global project that embodies advanced high-tech IT technology and artificial intelligence AI technology developed to prevent global warming. …