The Development The Zero Waste Electronic Market (ZWEM) For Industrial Equipment

Project Information

ZWEM

Grant agreement ID: 814357

DOI

10.3030/814357

Project closed

EC signature date 25 May 2018

Start date 1 June 2018

End date 30 November 2018

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

CARBON 350 LTD
United Kingdom

Periodic Reporting for period 1 - ZWEM (The Development The Zero Waste Electronic Market (ZWEM) For Industrial Equipment)

Reporting period: 2018-06-01 to 2018-11-30

Summary of the context and overall objectives of the project

Global Warming, if left unchecked will destabilise the world economy and lead to very significant civil unrest and potentially, very significant loss of life. The Paris Agreement which is the New Treaty on Climate Change, mandates a reduction in emissions of 90% between now and 2050.
ZWEM (The Zero Waste Electronic Market Place), is designed to bring together sellers and buyers of “second hand reconditioned” industrial equipment (oil rigs, valves, cars, trucks, pipes, generators, ships etc etc), and facilitate the accreditation of this emission reducing behaviour with The United Nations.
The successful accreditation and securitisation of these transactions creates a Certified Emission Reduction that can be sold on through Carbon 350 and provides an additional incentivisation for participants, while promoting Zero Waste and Circular Economy activities vital to the fight against climate change.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

We have worked on 5 areas of the business as follows:
1. Analysing and patching capability gaps within the existing team; We have selected a suitable group of software engineers.
2. Investigating and preparing for accreditation of the transactions under The Paris Agreement; We have investigated the new flexible mechanisms of The Paris Agreement specific to creating carbon markets.
3. Design of the software interface/platform; We have worked on design of the platform and have been advised that much of the software is open source.
4. Analysis of the market place and engagement with stakeholders; We have approached potential participants such as BP, Stakeholders such as Zero Waste Scotland and Bureau Veritas and contacted businesses already promoting the sale of reconditioned industrial equipment.
5. Design of a suitable marketing plan; We have designed an algorithm that will provide participants with an indication of the financial gains they can make from participating in ZWEM.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

Our forecasts show that by 2030, ZWEM will have been involved in the creation, and onward sale of 45,893,911 tons of CO2e (emission reductions), leading to circa €40M in fees before costs for ZWEM over the same period.
What is more; ZWEM's initiative will lead to employment globally as businesses see the financial potentials of the ZWEM model, contribute to the creation of a specific zero waste movement and industry, and should make a significant contribution to the fight against climate change.
Carbon 350 believes that Climate Change provides both the largest threat to human kind and yet ironically the greatest socio-economic opportunities.
The socio-economic benefits are both extremely negative, if climate change is not addressed (civil unrest, death, loss of property, sea erosion, breakdowns of global supply chains, less of global GDP of circa 20%), or extremely positive: employment, wealth creation, well-being and creating a more harmonious planet; as as Climate Change is a global problem, for the first time, the whole world will have to work together to solve it.

Support for the reduction in atmospheric CO2 to 350 PPM