Committing to a net zero future is the best way to assure a reduction in GHG emissions and carbon removal from the atmosphere. CO2OFFSET brings together forest owners and companies that want to become carbon neutral.
Carbon-smart organisations can buy carbon credits to not only support forest owners but also to maintain and preserve the forest’s natural heritage and biodiversity, whilst also making the planet sustainable.
Carbon credits and smart contracts will be generated between forest owners and smart carbon companies.
Comit to a Net Zero Future
How it works
Carbon credits offered by CO2Offsset follow internationally recognized criteria, such as:
Real and permanent
Carbon credits are generated from forests made up of mature forest species, whose landowners are committed to value their forest, preserving habitats and biodiversity. Forest owners who are part of this project adhere voluntarily and with no costs attached. All areas are regularly monitored and are also subject to permanent audit and traceability mechanisms. Buyers of carbon credits have access to information on the status of the forest on a regular basis.
Monitoring mechanisms are based on artificial intelligence algorithms and predictive models that make it possible to anticipate risks of drought, fire, exposure to pests (through the speed of biomass growth). Based on this qualified information, forest producers can have access to advanced alert mechanisms, which allow them to adopt preventive measures of risk mitigation, preserving the carbon stock stored in the forest. In the event of unintentional disasters, the relationship between CO2OFFSET and carbon credit buyers provides for the existence of a safety margin, so that buyers can be sure that the permanent effects of CO2 mitigation are maintained.
Real and permanent
Carbon credits are generated from forests made up of mature forest species, whose landowners are committed to value their forest, preserving habitats and biodiversity. Forest owners who are part of this project adhere voluntarily and with no costs attached. All areas are regularly monitored and are also subject to permanent audit and traceability mechanisms. Buyers of carbon credits have access to information on the status of the forest on a regular basis.
Monitoring mechanisms are based on artificial intelligence algorithms and predictive models that make it possible to anticipate risks of drought, fire, exposure to pests (through the speed of biomass growth). Based on this qualified information, forest producers can have access to advanced alert mechanisms, which allow them to adopt preventive measures of risk mitigation, preserving the carbon stock stored in the forest. In the event of unintentional disasters, the relationship between CO2OFFSET and carbon credit buyers provides for the existence of a safety margin, so that buyers can be sure that the permanent effects of CO2 mitigation are maintained.
Quantifiable and conservative
Through our methodology based on artificial intelligence algorithms and predictive models built upon information derived from satellite images, LiDAR and remote sensing data, allowing validation of scientifically structured fieldwork, it is possible to identify the main characteristics of the forest and accurately calculate the carbon stock of each forest area.
The risks of overestimating the potential for carbon sequestration are controlled through our methodology that makes it possible to identify the forest species, its maturity and to determine business as usual (BAU), valuing the deferral of the timber harvest based on the amount of carbon stored.
Unique, transparent and account for leakage
Each carbon credit generated is identified as a unique “ledger” containing detailed information, namely: the forest reference, the area, the forest species and its maturity, the evaluation methodology and the commitments established in relation to the postponement of timber harvest. Each carbon credit purchased is registered in a specific and unchangeable smart contract (blockchain).
Based on the registration of all the properties of a forest owner (area associated with the generation of carbon credits and the total area held by the proprietor), and the holistic analysis of the information collected for a given territory, it is possible to evaluate and prevent unwanted effects of opportunistic behaviour (leakage) in forest management, ensuring that the cumulative effects of CO2 mitigation occur.
Verifiable and additionality
This is one of the innovative features of the CO2OFFSET model guaranteeing a permanent verification of the carbon stock through a satellite monitoring system that analyses the information constantly collected. The methodology for generating carbon credits has been validated by internationally recognized certifying bodies. The contractual relationship with forest producers includes the existence of verification audits on the ground or by remote sensing.
The payment of carbon credits is intended to encourage forest producers to respect the sustainable cycle of forest exploitation, in addition to promoting the deferring of logging over time. Without this payment, the logic of optimizing forest exploitation would be based on a policy of timber harvesting at maturity, without taking into consideration CO2 retention, the protection of habitats and biodiversity.
The steps
How to offset my CO2 Emisions
List of requirements
Each carbon buyer (neutral carbon organizations) identifies the number of carbon credits they want to order.
Availability verification
Disclosure of available carbon stocks by forest species that neutral carbon organizations intend to protect.
Validation of information
Each carbon credit constitutes a unique ledger containing detailed information, namely: the owner of the forest, the territory/region, the area, the forest species and its maturity, the assessment methodology and commitments established in relation to the delay in timber harvest.
Smart contract registration
Each carbon credit purchased is registered in a specific smart contract (blockchain) and unchangeable.
Payment
Carbon credits are priced according to their unique characteristics identified in the ledger (its territorial origin, the area, the forest species, and its maturity) and market dynamics.
Monitoring
On a quarterly basis, a report on the evolution of the forest will be offered to buyers of carbon credits. Carbon-smart organisations can follow the process and verify if their investment is making a difference. Neutral companies are aware that forestry producers are regularly followed through a monitoring service that issues risk alerts for pests, drought and fire.
Knowledge-based solutions
The voluntary carbon market (VCM) was formed with the aim of driving finance to activities that reduce greenhouse gas (GHG) emissions. In its early days, the market was characterized by pioneering new approaches for fighting climate change. Over time, the VCM has evolved and matured into a robust and effective means to tackle climate change by driving resources to projects which deliver independently verified and additional emissions reductions on a global scale.
The VCM also enables companies to achieve ambitious climate goals by complementing internal emission reductions – a necessary first step – with the purchase of carbon offsets. By the end of 2019, the market had achieved over 608 million tonnes of CO2 in emission reductions or removals, which is the equivalent of more than 131 million cars taken off the road for a year.
Land Parcel Evaluation
The available CO2 stock in the selected areas by the landowners are rigorously evaluated using the following steps:
1. Gather Satellite Observations
CO2OFFSET trains machine learning models using satellite imagery, LiDAR imaging, and other remote sensing data to identify key forest characteristics that are used to calculate carbon stock.
2. Assess the Baseline
CO2OFFSET compares each pixel +++ in a project to a generated baseline. We do this by matching pixels+++ within the surrounding region to each pixel+++ within the project boundary, based on attributes such as distance to roads, topography, and forest structure. Unlike status quo static baselines, CO2OFFSET’s dynamic baseline is updated annually to observe what happened in forests without carbon projects.
3. Estimate Carbon
We train additional machine learning models to estimate forest carbon storage. Our vision is to apply these carbon models over large regions, eliminating the need for expensive and time-consuming manual measurements for individual carbon projects.
We estimate the carbon stock value of the forest, regardless of the legal nature of the owners and the size of their property, on a regular basis, to allow the match between owners and smart zero carbon organizations.
4. Monitor Forest Change
Carbon offsetters wish to be notified of any significant changes of a project they are committed to, as it can influence their net-zero targets. CO2OFFSET is developing a forest monitoring system to detect changes in carbon projects over time, and to share these insights and updates directly to offsetters and project developers alike.
A forest evolution report will be offered to carbon credit buyers on a quarterly basis. After verifying compliance with forest preservation objectives, forest owners receive their payments at the end of the timber harvest deferral period. Smart zero carbon organizations will always have the opportunity to monitor the process and check that their investment is making a difference.