IWA Releases CET Protocol - Version 1.0
Apr22,2024
Paying tribute to Earth Day, the InterWork Alliance (IWA), a Global Blockchain Business Council (GBBC) initiative, has released the Carbon Emission Token (CET) Protocol - Version 1.0 report, following the public comment period which ended February 2024. Check out the report here.
The CET Protocol uses the IWA’s Token Taxonomy Framework (TTF) to define, and provide guidance for, the tokenization of emissions. The goal of this effort is to advance and strengthen emissions reporting through technical guidance, specifications, and best practices of tokenized carbon emissions and related data structures, such as measurement, reporting, and verification (MRV). This can be leveraged across environmental accounting use cases, including to meet new regulations such as the EU Corporate Sustainability Reporting Directive (CSRD), SB 253 and 261 in California, and the US SEC emissions reporting requirements.
By leveraging distributed ledger technology (DLT), emitting organizations can gain:
Transparency, accuracy, and quality in data for inter-organizational and intra-organizational emissions following verifiable methodologies and rulesets for accounting.
Referenceability across parties for indirect emissions reporting, while maintaining provenance of both data and the rulesets under which it is collected.
A clear aggregate view of the ecological footprint of emitters globally.
This document is the result of over a year of discussions within the IWA’s CET Taskforce. Thank you to everyone who has contributed to this effort: Accenture, Avery Dennison, Blockchain Laboratories, Circulor, CodeGreen, Envision Blockchain, Ernst & Young (EY), HBAR Foundation, Heritage Royalty, Hyphen Global AG, Microsoft, Protocol Labs, Rearden Digital Assets, RecycleGO, SwirldsLabs, The dCarbon Group, Triangle Systems, Wells Fargo, and several individual contributors.
If you have further feedback on the document or wish to get involved in the IWA’s taskforce in the future, please reach out to iwa@gbbcouncil.org.
