Question 1

What is a carbon credit?

Accepted Answer

Carbon credits are generated from projects around the world that pull Greenhouse Gases (GHGs) out of the atmosphere or keep emissions from being released. MCO2, BCT, and NCT are examples of tokenized carbon credits. These are carbon credits that have been awarded to projects, and then brought onto the blockchain by converting them into blockchain-based tokens.

Read more about the tokenization process here.

Question 2

What is a carbon offset?

Accepted Answer

Carbon offsetting is achieved when a carbon credit is ‘retired’ in the name of an individual or an organization. The retirement process removes the carbon credit from the market, meaning that no one else can claim responsibility for the positive carbon impact associated with the individual credit. It is at the point when the retirement is executed that an ‘offset’ can be claimed.

When you send a love letter using KlimaDAO, you are retiring carbon, and thus executing an offset.

Question 3

What does it mean to retire carbon?

Accepted Answer

Retiring carbon means to remove a carbon credit from the market. MCO2, BCT, and NCT tokens all carry metadata – important information about the credits such as vintage, project type, and geography. When you retire a carbon credit, the metadata within the token leaves a trail that leads to the original project that produced this credit. When the supply of a project's credits drops due to retirements, the project is incentivized to produce, and sell, more of these credits. This income stream finances the project – whether it is a forestry project, or a renewable energy project.

Question 4

How many tonnes of carbon should I choose to retire?

Accepted Answer

It's entirely up to you! By using the power of blockchain technology, carbon credits can be broken down into fractional pieces. So you can retire as little as 0.1 tonne of CO2 (roughly the carbon footprint of an iPhone).   Some comparisons:

0.6 tonnes of CO2 = 0.6 MCO2 / BCT / NCT = round trip economy ticket from Tokyo to Munich 1 tonne of CO2 = 1 MCO2 / BCT / NCT = 3x the monthly emissions of a car 16 tonnes of CO2 = 16 MCO2 / BCT / NCT = the annual footprint of an average American or Canadian  Check this map to see how much you need to offset in your country for a year's worth of average emissions.

Question 5

How much does it cost?

Accepted Answer

The cost of your retirement depends on how much you choose to retire, and which type of carbon credit you choose to retire. For example, you could retire 1 tonne of BCT, which costs roughly $3, depending on market prices. Or you could retire 0.1 tonnes of MCO2, which would set you back $1, depending on market prices.

When you retire carbon with KlimaDAO, the KlimaDAO retirement aggregator applies a 1% fee. The 1% fee is used by KlimaDAO to accumulate more carbon tokens, and pay out rewards to KLIMA token holders (Klimates). There are already more than 60,000 Klimates! Visit www.klimadao.finance to learn more about being a KLIMA token holder.

Question 6

My transaction isn't going through - what do I do?

Accepted Answer

Offsetting is still in beta mode – thank you for being one of the early adopters of the KlimaDAO retirement aggregator! It's possible you're encountering some common issues, which could be the following:   You click "Approve", but your transaction doesn't go through: The retirement transaction requires a two-step approval. First click “APPROVE”, follow the instructions in your wallet, and then click “RETIRE”.
Transaction won't complete: Try upping the gas limit. Depending on network congestion, this transaction could require up to 1,500,000 gas Love Letter doesn't show up on the Love Letters Page immediately: Please give it up to 24 hours. While the Love Letters are posted to the blockchain right away, pulling them to the website is still manual. Other issues: Reach out to us on Discord!

BETA

Send a message that lives forever
on the blockchain. Retire carbon credits to offset emissions with every message you send.

1,000.00

46,100

LOVE
LETTERS

100.00

3333.33

100.00

100.00

20.60

900.00

6.969

4.00

1.00

SEND A LOVE LETTER TO THE PLANET

Connect to the KlimaDAO Carbon Retirement dApp

Choose the type of projects you want to support

Write your love letter in under 280 characters

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3/26/2022

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3/25/2022

Planet of The Klimates
S01 E15 - podcast episode

3/17/2022

KlimaDAO: changing the carbon offset paradigm

BETA

Send a message that lives forever on the blockchain. Retire carbon credits to offset emissions with every message you send.

1,000.00

46,100

LOVE LETTERS

100.00

3333.33

100.00

100.00

20.60

900.00

6.969

4.00

1.00

SEND A LOVE LETTER TO THE PLANET

Connect to the KlimaDAO Carbon Retirement dApp

Choose the type of projects you want to support

Write your love letter in under 280 characters

4/20/2022

Are NFTs bad for the environment?

3/31/2022

In Honor of Earth Hour, KlimaDAO Launches Carbon Offsetting Campaign

3/30/2022

KlimaDAO x Transak: Making Offsetting Simple

3/26/2022

KlimaDAO LIVE: Earth Hour 2022 Twitter Spaces

3/25/2022

Planet of The Klimates S01 E15 - podcast episode

3/17/2022

KlimaDAO: changing the carbon offset paradigm

Send a message that lives forever
on the blockchain. Retire carbon credits to offset emissions with every message you send.

LOVE
LETTERS

Planet of The Klimates
S01 E15 - podcast episode