The HBAR Foundation is extremely pleased and excited to announce that Solid World will launch on mainnet sometime towards the end of 2023. This will then contribute significantly to carbon transfer on Hedera. In turn, scaling voluntary carbon markets (VCMs) and accelerating the growth of carbon projects will be immensely beneficial for the HBAR Foundation.
Currently, one of the most difficult claims VCMs face is that it takes about 5-10 years for carbon projects to get a certification stamp, along with the issue of revenue generation. In the meantime, projects are stuck with the aspect of capital expenditures to carry out necessary operations. There are also factors to consider that some projects fail and on top of that are not able to deliver the credits. It is therefore the order of the day to identify these risky situations and thus ensure the success of the projects.
This is where Solid World comes into play. It can address the funding issues by offering risk-based analysis on new carbon projects and also supporting the projects it sees as viable. It also helps institutions scale their carbon finance. This is done with the help of different and lower-risk CO2 financing pools. Using an upgradable carbon negative Hedera network, Solid World provides the framework that enables the issuance and routing of carbon credits in terms of a public market that happens to be totally open and with clear pricing signals. Carbon forwards are financial instruments that allow a buyer to freeze the pricing of carbon credits until a future date.
Solid World has built a unique Web3 platform that helps reduce the associated risk factors in carbon finance. This is done by building different carbon forward liquidity pools. This, in turn, sets a market price that includes different types of carbon projects for the first time. Leveraging Hedera Guardian’s dMRV infrastructure, these liquidity pools provide better data verifiability in case of project execution, open pricing and deeper liquidity.
As for the HBAR Foundation, it stands for building Web3 communities created on the Hedera network. This is accomplished by promoting and funding the builders involved in the development of these communities. In the case of Solid World, it participates in de-risking climate finance by providing various ways to finance carbon projects. It is precisely these CO2 projects that companies use to achieve net-zero emissions. According to Solid World co-founder Stenver Jerkku, the HBAR Foundation, along with Hedera, is committed to creating a complete ecosystem to transform sustainability markets and is at the forefront of the green Web3 journey.
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