ALLCOT IO and HBAR Foundation Sustainable Impact Fund: A Partnership in Opening the Books on Climate Finance
ALLCOT IO, the digital arm of established carbon management leader ALLCOT, is proud to announce a strategic partnership with HBAR Foundation Sustainable Impact Fund to bring the balance sheet of the planet to the public ledger.
The partnership is committed on pioneering a transparent approach by ‘Opening the Books on Climate Markets.’ This initiative will span the full lifecycle of a climate project, from its inception and financing through issuance, engaging key stakeholders in the carbon ecosystem—from standards and registries, validation and verification entities, and financial institutions. This begins with opening ALLCOT books and financial relationships across stakeholders in ALLCOT’s project development portfolio. This sets an example for all project developers, and paves a way forward to new measurements of financial equity in support of the Just Transition.
This partnership leverages ALLCOT’s existing portfolio of projects as a catalyst to enable digitally-native initiatives driven by web3 technology, fundamentally improving the landscape of climate solutions. This approach is perfectly aligned with ALLCOT’s core mission, which focuses on enhancing the environmental footprint of projects while simultaneously empowering the communities at their center.
“We couldn’t be more pleased to join forces with a visionary partner who shares our commitment. Together, we bridge the gap between the boundless possibilities of web3 technology and ALLCOT’s boots-on-the-ground expertise, aiming to deliver positive, impactful outcomes for all stakeholders involved. We are talking about an initiative to standardise climate markets reflecting 500 million tons of carbon under management of ALLCOT, impacting 200 communities around the world” says Alexis Leroy, Co-founder of ALLCOT IO and Founder of ALLCOT.
The HBAR Foundation funds digital public goods on Hedera, an open source, public distributed ledger technology (DLT) network governed by leading organizations around the world. Together with ALLCOT IO, the HBAR Foundation aims to contribute significantly to global initiatives combating climate change. The focus of this initiative is to bring together carbon markets players on a streamlined and auditable platform, this collaboration represents a significant milestone in the ongoing effort to create a more transparent, efficient, and impactful climate market ecosystem.
Redefining carbon credits as climate assets
The aim is to redefine carbon credits as climate assets, directly linking their valuation to measurable impacts in SDG co-benefits and financial equity promoting unprecedented transparency and accountability ensuring that climate funds reach projects effectively and dynamically, including local communities.
“This partnership aims to benefit climate projects by ensuring that funding reaches local communities, substantiated by transparent and auditable proof,” explains Raphaël De Ry, Co- founder and CEO of ALLCOT IO. “Furthermore, the partnership is committed to elevating public comprehension of how project data results in credible, tangible climate benefits. This enables communities to openly share their experiences and the transformative impact of the funding they receive, all from a single, reliable source of information. The privilege of collaborating with Hedera and the HBAR Foundation presents an unparalleled opportunity to elevate our impact in climate action.”
About ALLCOT IO
ALLCOT IO is at the forefront of building on and developing cutting-edge tools that will serve as digital public goods that support enterprise ready regenerative finance. By embracing open-source technologies, the collaboration aims to make its climate technology stack accessible to anyone, thereby catalyzing innovation in the climate finance sector.
The partnership seeks to empower Project Developers, Registry Institutions, and Credit Buyers by providing them with a clear direction on how to engage with this transformative initiative. Through this partnership, stakeholders will have the opportunity to:
- Purchase credits with increased confidence in their ecological and financial impact.
- Embrace digital solutions to streamline their operations.
- Participate in a groundbreaking approach to drive positive change.
The cornerstone of this collaboration is the unification of all climate elements onto a public ledger, achieved through digital enablement by the Hedera Guardian, an open-source platform that operates on Hedera and allows for both attestations and value to emanate from accounts in environmental processes. Through the use of Hedera Guardian, the partnership aims to set a new standard for impact, transparency and credibility in carbon markets.
“We’re excited to take the first step in partnership with ALLCOT & ALLCOT IO, to make climate finance auditable and at scale. The scope of this partnership provides a clear example of how to remove opacity in climate finance. Together we aspire to enable dozens of projects within the Allcot portfolio, and make it possible for other project developers to build on this tooling” said Wes Geisenberger VP of Sustainability & ESG at the HBAR Foundation. “We believe by bringing together the concepts of Financial Equity and credible climate assets leveraging dMRV we have an opportunity to drive impact around the world from climate markets – to local communities.”
As we embark on this exciting journey towards a more transparent, accountable, and impactful climate finance ecosystem, ALLCOT IO and Hedera invite all stakeholders to join us in our mission to make a meaningful difference in the fight against climate change.