About Zero Carbon Project
The Zero Carbon Project is tackling climate change using the blockchain and international carbon credits.
Renewable energy has responded well to the climate change challenge, with impressive cost reductions achieved. However, we are concerned that renewables remain too expensive and so the impact on carbon emissions is slow.
The Zero Carbon Project has 2 parts:
- deliver energy at a lower price than existing renewable and fossil fuel energy contracts; and
- to entice people to use the Zero Carbon Project, provide a blockchain-driven incentive scheme to reward consumers for engaging with the Zero Carbon Project and encourage consumer action.
The first part of our solution consists of a competitive ‘Zero Carbon Market’ which provides consumers access to cheaper energy contracts where the carbon emissions have been offset by international carbon credits.
Secondly, our blockchain economy is based on ZeroCarbon tokens that have been designed to capture the future value that customers receive form our Market. This is enabled using the distributed ledger, Ethereum smart contracts and crypto exchanges.
ZeroCarbon tokens are underpinned by concrete value as energy suppliers must use them to pay their transaction fees for using our Market. Therefore, as our consumer base grows, the demand for ZeroCarbon tokens increases, constrained by a fixed supply.
We intend that up to 70% of the transaction fees received by the Zero Carbon Project will be ‘recycled’ and provided to consumers as rewards for engaging with the Zero Carbon Project. Energy suppliers and consumers (“Customers”) can sell ZeroCarbon tokens to other customers, including energy suppliers who purchase them to pay transaction fees. This is the ZeroCarbon economic cycle.
Progress achieved to date
We have been actively building the Zero Carbon Market over the last year. This includes building the Project team, completing the systems, designing the ZeroCarbon smart contracts and registering energy suppliers in the UK. Our UK Market is now complete and ready for launch in October 2018. This will be followed by a global rollout in 2019.
Track-record of innovation and execution
The Zero Carbon Project is a subsidiary of Beond www.beondgroup.com which is an award-winning energy and carbon consultancy based in London. Beond is a team of 30 energy market professionals who are passionate about helping clients achieve their ambitions and also about tackling global climate change, through the application of new technologies. Our core values are integrity, innovation and quality.
Beond services over 600 energy consumers in UK including Knight Frank, Capita, The Salvation Army and Salford County Council, and has received eight awards over the last three years covering innovation, green business and consultancy services.