Project description
A dedicated currency linked to carbon
Carbon has become a commodity – or ‘hot potato’ – with exchanges set up to help homeowners, landowners and business owners sell carbon offsets or credits or buy them to offset their own use to achieve carbon neutrality. For example, a homeowner planting trees could sell carbon credits to companies wanting to reduce emissions. The French SME 450 has developed a ‘carbon central bank’ concept to motivate households and businesses to reduce their CO2 emissions. Users create an account and start accumulating or spending euro-greens, the carbon-free currency. The CO2 emission coin will also be registered on blockchain platforms. The EU-funded PCCE project is helping the team finalise the application and prepare a path to market.
Objective
450 is the SME operating and promoting a digital platform for the management of the CO2 digital currency (CO2s) based on the CO2 reductions achieved by a CO2Account owner.
A CO2Account is held in the platform to register the CO2 consumption, to calculate the yearly reduction, and to
provide the relevant credit, expressed in units of CO2. CO2 is the alternative digital currency which rewards the account owner by the verified reduction of 1 kg of CO2 emissions through the reduced use of fossil fuel in heating and/or transport.
CO2s can be credited to, and debited from (notably with CO2Cards -payment card, or with a mobile App) the account. The CO2/€ exchange rate prices carbon.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques.
- social scienceseconomics and businessbusiness and managementbusiness models
- engineering and technologyenvironmental engineeringenergy and fuels
- natural sciencesearth and related environmental sciencesatmospheric sciencesclimatologyclimatic changes
- social scienceseconomics and businessbusiness and managementcommerce
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Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
29217 Plougonvelin
France
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.