Introducing ESG to Web3
Welcome to the Managed Guardian Service (MGS)! We enable applications a way to mint emissions & carbon offset tokens without worrying about the complexities of managing the technology infrastructure.
Note: We are currently in the Beta phase. Documentation and usage are subject to change.
With regard to ecological markets, business leaders will find themselves in these four phases:
- Creating Verified Supply
- Establishing Demand
- Buying & Selling
There are many rationales that can be applied here such as Greenhouse Gas Emission Profiles, Renewable Energy Credits, and Carbon Offsets. While emission allowances are subject to government regulation, a Carbon Offset, for example, is an intangible asset that is created in a process involving a project or program whose activity can be claimed to reduce or remove carbon as a result, that is independently verified and turned into a carbon offset. These offsets are minted, or issued, by an environmental registry that created the standard methodology or protocol used to create the verified carbon offset claim. The offset then represents the original owner’s property right claim to the carbon-related benefits. The asset owner(s) can then sell their credits directly to buyers, or at wholesale. The ultimate end-user has the right to claim the benefits and can retire the offset permanently – usually as part of a netting process, where the claimed CO2 benefits are subtracted from that end-users other Greenhouse Gas (GHG) emissions.
The process to create renewable energy or carbon offset claims that can be validated and verified to be turned into a product is called measurement, reporting, and verification (MRV) data. Today, this process of collecting the supporting data for these carbon offsets is heavily manual and prone to errors. The main factors driving these error-prone are:
- Poor data quality
- Lack of assurance
- Potential double counting
- Overall lack of trust.
This is where the Guardian solution which leverages a Policy Workflow Engine (PWE), is a sensible approach to ameliorate the issue with the current processes. The dynamic PWE can mirror the standards and business requirements of regulatory bodies. In particular, the Guardian solution offers carbon markets the ability to operate in a fully auditable ecosystem by including:
- W3C Decentralized Identifiers (DIDs): Decentralized Identifiers (DIDs) are a new type of globally unique identifier that are designed to enable individuals and organizations to generate their own identifiers using systems they trust.
- W3C Verifiable Credentials (VCs): A digital document that consists of information related to identifying a subject, information related to the issuing authority, information related to the type of credential, information related to specific attributes of the subject, and evidence related to how the credential was derived.
- W3C Verifiable Presentations (VPs): A collection of one or more VCs.
- Public ledger technologies.
- Policy workflow engines through fully configurable and human-readable “logic blocks” accessible through either a user interface or an application programming interface (API).