Introducing the Sustainable Impact Fund:
There is a fundamental shift in how businesses, governments, and the environment interact driven by the climate crisis. Organizations are beginning to be held accountable for their impact on the global environment. This requirement is revealing inefficiencies across the climate industry that puts the ability to achieve climate goals at risk.
Fractured data, lack of trust in participants, and issues around complex and opaque processes have caused issues from double spend of carbon credits to a lack of transparency in the carbon and environmental markets. Markets have not matured in an efficient way that enables the trading of granular assets due to a fear of double spend and complex roles and requirements which has led to a slower market growth than desired.
As a result, the need for greater transparency, auditability, and efficiency of industry impact on the global environment is greater than ever.
The HBAR Foundation Sustainable Impact Fund (SIF) has been established as the first fund of its type in the industry to help solve these problems. Today we’re proud to announce the allocation of over $100M in 2022 to help do our part in solving the climate crisis and address these challenges on Hedera.
The SIF will do this through funding, support, and by raising awareness of projects that measurably change how the world works in a specific and attainable way across Environmental, Nature-based, and UN Sustainable Development Goal focused projects to facilitate systemic change for the planet.
Our goal is to drive standardization in the sustainability markets by creating a repeatable format for high-quality tokenized credits that maintain an auditable link to project data through trading and retirement of tokenized credits.
We plan to work with projects using tools like the Open Source Guardian, which was the first IWA Voluntary Ecological Markets ("VEM") Standards implementation that digitizes methodologies that measure, report, and verify attributes of a given project down to metric tonne. The Guardian enables Hedera based tokens to maintain a linked relationship to the roles, actors, and data created by ecological projects that follow a science-backed methodology. This allows for transparent communication to stakeholders, including governments and NGOs, with the full auditability of specific assets.
We anticipate projects will fall into a number of categories, including projects measuring granular carbon emissions for industries including transportation, energy, manufacturing, and other supply chains. We will also support applications in our ecosystem, creating verified supply of carbon offsets and removals, in addition to infrastructure that enables new forms of exchange or more traditional tooling such as centralized exchanges and green bonds.
The common underlying thread to this is building around Guardian based processes, as well as standards based infrastructure for the community to quickly build and begin to see results. Examples of expected tooling required include:
We look forward to continuing to build this fast-growing ecosystem with key stakeholders from all around the world working on new and innovative climate accounting and trading technologies.
Call to Action:
If you’re a builder who wants to facilitate systematic change for the planet and leverage the distinct advantages of the Hedera network, apply for SIF grant funding here.
Additional resources to help you build:
About the HBAR Foundation
Founded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups, and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, Sustainability, gaming, and other sectors. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development, and other operational functions that are required to scale.
To apply for a grant from the foundation, please visit https://www.hbarfoundation.org/apply or follow the Foundation on Twitter @HBAR_foundation.