By implementing the St. Helena Active Offsetting Pilot Programme, ALLCOT IO and Extreme E are spearheading a transformative approach to carbon management, setting a new standard for environmental sustainability in the maritime industry.
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Active Monitoring and Offsetting – St. Helena Extreme E
St. Helena Active Offsetting Pilot Programme
Context
Extreme E and ALLCOT have collaborated to introduce the St. Helena Active Offsetting Pilot Programme, a groundbreaking initiative set to revolutionize carbon management in real-time. As a dynamic solution scheduled for implementation aboard Extreme E’s floating centrepiece, this innovative approach aims to address carbon emissions with unparalleled accuracy and transparency.
The Solution
Active Offsetting, pioneered by ALLCOT IO, offers a novel approach to carbon management by enabling continuous monitoring and offsetting of emissions as they occur. This solution allows for precise calculation and immediate retirement of carbon credits, ensuring swift and transparent compensation for emissions generated by the St. Helena vessel. Leveraging blockchain technology, the process guarantees an immutable record of each transaction, providing unprecedented levels of transparency and traceability.
Process
- Data Collection: The St. Helena vessel will generate daily carbon footprint data by assessing fuel consumption, load factors, and other relevant variables. This data is crucial for calculating the corresponding amount of carbon credits required for offsetting.
- Carbon Credit Calculation: Using the collected data, the system calculates the precise amount of carbon credits needed for offsetting the vessel’s daily emissions. This calculation is seamlessly integrated into a blockchain-based platform, ensuring data integrity and transparency.
- Carbon Credit Retirement: Upon calculation, an equivalent amount of carbon credits is automatically retired through the blockchain platform, representing the offset for the St. Helena’s daily carbon emissions. Each transaction is recorded on the blockchain ledger, establishing a transparent and traceable history of the vessel’s offsetting journey.
- Transparency and Traceability: The blockchain ledger provides an immutable record of all carbon credit transactions, offering stakeholders unparalleled transparency and traceability throughout the entire offsetting process.
The Impact
Environmental Impact: The Pilot Programme significantly reduces the vessel’s carbon footprint by continuously monitoring and offsetting emissions in real-time. This proactive approach helps mitigate climate change, preserve ecosystems, and protect biodiversity.
Social Impact: The programme promotes awareness and engagement in carbon offsetting practices among stakeholders, fostering environmental stewardship and accountability. By empowering individuals to participate in offsetting efforts, it encourages broader societal shifts towards sustainability and environmental consciousness.
Economic Impact: Through streamlined processes and transparent practices, the programme enhances efficiency and reduces costs associated with carbon management.
Before
Carbon management aboard the St. Helena vessel relied on traditional methods with limited real-time monitoring capabilities. This approach lacked transparency and often resulted in delays in offsetting emissions.
After
With the implementation of the Active Offsetting Pilot Programme, we enabled continuous monitoring and immediate offsetting of emissions in real-time, significantly reducing the vessel’s carbon footprint. This proactive approach ensures swift and transparent compensation for emissions, fostering environmental sustainability and accountability throughout the vessel’s operations.