reporting, and verification
solutions to empower
and sustainability markets
DigitalMRV provides cohesive data confidence
Combining IOTA’s nextgen distributed ledger technology and ecosystem with ClimateCHECK’s 20 years of MRV expertise empowers DigitalMRV to provide unequalled data confidence and utility to support an array of stakeholder needs and opportunities.
DigitalMRV goes beyond the data life cycle with nextgen smart standards systems to improve the cohesiveness of MRV systems.
DigitalMRV addresses challenges with conventional MRV:
Inefficiency of MRV process
Credibility of MRV results
Utility of the MRV results
Cohesiveness of MRV system
Inefficiency of Conventional MRV Process
Current GHG measurement, reporting, and verification (MRV) systems today are mostly analog and manual processes. This requires in person visits to audit sites, which is inefficient and costly. Occasional (e.g., annual) visits mean project proponents are limited in their ability to monetize climate assets or trade in climate markets.
Credibility of MRV Results
Current MRV practices, and also new efforts to digitize data from climate actions, lack security and trust, reducing utility due to a lack of confidence. Existing digital equipment in facilities are limited, e.g., do not prevent data manipulation. Current MRV practices for data analytics and QA/QC are limited, e.g. basic visual inspection and spreadsheet calculations.
Utility of MRV Data and Information to Scale Climate Actions
Investors, sellers, buyers and other stakeholders are limited from participating in carbon markets and carbon finance without secure, immutable, reliable source data, available in near real-time via DLT to climate registries (NDC registry, carbon credit registry) and in accordance with linked MRV methodologies.
Cohesiveness of MRV System
Many different types climate actions with different data and MRV methodologies, that are not comparable and do not “add-up” with confidence as “one version of the truth” everyone agrees with. This leads to lack of confidence and limits ability to scale NDC climate actions towards efficient and effective transformational change.
Our DigitalMRV solution combines leaders in DLT and MRV:
IOTA’s technical and sustainability performance via the IOTA Tangle, IOTA Streams, IOTA Access and IOTA Identity.
ClimateCHECK’s 20 years of MRV expertise and the ScribeHub platform for online MRV knowledge and networks.
IOTA’s advanced technology ecosystem includes the first distributed ledger built for the “Internet of Everything” – a network for exchanging value and data between humans and machines. IOTA has a number of unique capabilities – tamper proof data, lightweight scalable infrastructure, removal of risk of vendor lock-in, a high level of transparency, and no built-in fees to use the network which could cause future bottlenecks for growth.
ClimateCHECK leverages its extensive MRV expertise into DigitalMRV:
Performed MRV on over 250 companies since 2001
Core contributor to major MRV standards and methodologies since 2001
Co-founded the GHG Management Institute in 2007 as the global society of MRV professionals
Performed “audit the auditor” based on ISO 14064-3 and 14065 since 2009
Audited IETA’s ICROA members’ conformance to the Code of Best Practice since 2014
Delivered quality assurance as technical partner to the Assessing low-Carbon Transition (ACT) Initiative since 2016
Founder and co-chair (with UNFCCC) of the Climate Chain Coalition since 2017
Our Solution > Overview
Our Solution > DigitalMRV at High Data Resolution
DigitalMRV is built on IOTA’s permissionless, feeless, energy efficient distributed ledger technology. DigitalMRV combines a 3D digital twin of the site and digital devices, with IOTA Streams for tamper-proof, real-time data connections and assessment. Data and information is managed on the IOTA Tangle distributed ledger for a lightweight, scalable infrastructure that provides immutability, transparency and trust.
Our Solution > Nextgen Smart Standards System
ScribeHub is an online platform to support nextgen smart standards systems involving:
communities of practice developing and managing MRV methodologies
customizable reporting and auditing templates linked with MRV methodologies for consistency and traceability
SSO integration with DigitalMRV
Efficient and Accelerated Verification
"To speed up the verification process and to improve supply integrity, the Taskforce recommends a digital project cycle, including:
a shared data protocol that captures necessary project data digitally and protects its integrity during processing and transfer.
an integrated process that allows verification entities to continuously monitor and validate integrity as projects are developed, rather than at the end of the process."
Taskforce for Scaling Voluntary Carbon Markets November 2020