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"Parties shall, where engaging on a voluntary basis in cooperative approaches that involve the use of internationally transferred mitigation outcomes..."

Tokens = Internationally transferred mitigation outcomes (ITMOs)

• Data to be stored in a non-fungible token NFT
  • Country of origin
  • Project details (description)
  • Measurement in metric tonnes of CO2 mitigated
  • Vintage (year mitigation took place)

195 UNFCCC Nation Parties (Countries)

• Include at least 3 Nation Parties (feel free to include more)
• Each Party must have National Carbon Account (e.g., a wallet)

Function: Tracking Internationally Transferred Mitigation Outcomes

1. Each participating Party shall ensure the tracking and identification of ITMOs through a registry, including the:
2. Creation of ITMOs;
3. First transfer of ITMOs;
4. Transfer of ITMOs;
5. Acquisition of ITMOs;
6. Holding of ITMOs;
7. Use of ITMOs;
8. Cancellation of ITMOs;
9. The secretariat shall:
10. Maintain or have access to an transaction log to record and verify transactions, including all the above functions of ITMOs

Infrastructure

• Each participating Party shall have, or have access to, a registry for tracking ITMOs.
• Each registry shall be able to perform the functions referred above and shall have the necessary accounts.
• The secretariat shall implement an international registry for participating Parties that do not have such a registry or access to such a registry. (i.e., registry can be centralized or decentralized or both)

Governance and Verification

• Options
  • UNFCCC body verifies every ITMO created
  • Decentralized method of verifying every ITMO created
  • Both

Bounty

The goal is to capture as much of the above functionality on the Ethereum blockchain within a reasonable scope.

Prize

400 DAI (USD)

Have fun saving the planet!