Corporate Offsetting
For Climate Action

The BELOW2 methodology evaluates each project in the specific jurisdiction at the given time frame and according to the typology of the project. For this purpose, all information needed from the project representatives will be provided digitally. In addition, third-party data, such as excerpts from the commercial register or environmental reports, are already considered in the project-internal evaluation. This data will be drawn independently from the corresponding sources as part of the Verification Automation Platform (VAP) functionality.

VCIs represent different qualities of C-Sink (VCI-S) and C-Avoidance (VCI-A) potentials that have been applied, verified, and issued. There are several ways to buy carbon credits in the Voluntary Carbon Market. First, a distinction must be made between so-called nature-based carbon credits, which refer to, e.g., reforestation projects, mangroves, or blue carbon, and technology-based carbon credits, for which exemplary Biochar, wind power, or solar are used.

Our goal is to create the foundation for all CO₂ marketplaces: A smart contract that generates tradable, non-fungible tokens (NFT) based on the ERC-1155 protocol helping to verify carbon removal projects. Each token is minted only when our VAP has approved a specific project. The token is tagged with a series of hashes that create a non-erasable record stored on the interplanetary file system (IPFS) during the minting process. The data is stored forever and cannot be changed by anyone – including BELOW2. Other marketplaces can verify our token data and decide if the verification is sufficient.

With minting the tradable NFT, all therein used VCI-A and VCI-S NFTs will be burned (retired) on the Blockchain and made unusable for further NFTs. This procedure ensures that each project is only used once, which can be checked on the Blockchain (a retired token is still visible and can be verified using, e.g., etherscan).

We use the Proof of Stake (PoS) technologies provided by Polygon’s side-chains and also offset the CO₂ that might be emitted whenever we touch the Ethereum blockchain.

More and more companies are giving the topic of sustainability the importance it deserves. Thus, the role of ESG teams is essential to strengthen the sustainability responsibility of the company and e. g. minimize its impact on the environment. This may include a reduction strategy leading to Net-Zero and a strategy to offset carbon emissions that cannot be reduced within the company’s work environment. If companies decide on an offsetting scheme, the carbon credits bought must be accurate, transparent, traceable, and unalterable. These requirements make BELOW2 a perfect partner for ESG teams.

In addition you can purchase carbon credits from BELOW2 on market places like Ceezer or senken.io

For most suppliers, the financial aspect will play a vital role in getting verified by the BELOW2 Standard. Of any verified project, BELOW2 will pay up to 90% (depending on the VCI category, average 85%) of the net income to the Impact Creators to strengthen their commitment to reducing carbon from the atmosphere. By doing so, BELOW2 subsidizes their carbon-reducing business, e. g. projects. Alternatively, the impact creators can invest this revenue stream into other supply projects connected to the platform. As a result, a verified carbon impact will give suppliers pure additional revenue. With its free and easy way to be verified, BELOW2 enables many suppliers to make their climate action visible. Most of them could not or would not be able to do so without the BELOW2 Standard. In the case of avoidance, we attract a target group on the supply side that today cannot contribute as avoidance cases are usually either not accepted in certification systems or are only verified if an organization picks them as a project.

Today’s climate initiatives recognize the 17 Sustainable Development Goals (SDGs) formulated by the United Nations to create carbon offsets.

Although it is essential to achieve these goals, they are only indirectly related to carbon reduction. The allocation of CO2eq towards any SDGs is intransparent and scientifically incorrect.

Instead, it’s necessary to focus on carbon offsetting according to scientific standards and the concentration on SDG13 — Climate Action and acknowledging the need to partner with organizations pursuing other SDGs.