# The ReFi Recap: a report on the state of Web3 carbon markets

> October 5th-11th, 2024

**Published by:** [The CARBON Copy Newsletter](https://paragraph.com/@carboncopy/)
**Published on:** 2024-10-11
**Categories:** web3, finance, blockchain, climate, refi
**URL:** https://paragraph.com/@carboncopy/the-refi-recap-a-report-on-the-state-of-web3-carbon-markets

## Content

Earlier this week, Mercy Corps Ventures published the results of a pilot it conducted with forest restoration company Forest Carbon.State of the web3 carbon marketBlockchain-powered carbon markets have long been proposed as a solution to the opaque, slow, and disorganized issuance process for carbon credits, though with limited real world applications...https://medium.comThe key takeaway? No Web3 marketplace, standard, or registry is yet mature enough to issue trustless credits that matched the quality of those produced by Forest Carbon.This exercise revealed that while there are interesting applications out there, none were ready to issue trustless credits. Most were focused on either bridging credits or forward-selling credits, neither of which would address root issues in the market.The report did specifically mention Open Forest Protocol (OFP) as having "viable capabilities" but lacking support for methodologies other than carbon removal. Unlike the Renoster generally positive review of OFP's carbon removal methodology from a couple of weeks ago, this report paints a starker picture: there is much work to be done before Web3-powered ecological credit platforms can meet the standards of today's project developers and credit buyers.The Latest from CARBON CopyIn Search of ReFi Success MetricsTrinity Morphy undertakes a quest to figure out how to define the success of Web3 regenerative finance (ReFi).https://carboncopy.newsReFi NewsArkreen and Srcful Energy announce partnership that enables solar devices on Srcful to issue RECsJasmine Energy migrates to BaseOctant launches Public Goods Sweepstakes with US$100,000 in prizesGlo Dollar announces partnership with universal lending protocol PWNkeenest announces partnership with Solar Impulse Foundation to accelerate climate tech fundingGitcoin, ReFi DAO, GreenPill Network, and Celo Public Goods launch Regen Coordination HubNew in Our Databaseempowa is transforming the climate-smart affordable housing market in Africa through digital innovation.EarthFi is transforming the recycling landscape with ReFi environmental solutions for plastic waste.Ambient Network is the world’s largest decentralized network of environmental sensors and ambient data.Brokoli offsets electronic waste by planting trees.Knowledge🔊 Crypto Altruism Podcast: How blockchain is redefining the value of nature📖 OceanBlocks Newsletter: Is ESG inherently flawed?🔊 ReFi Podcast: Ecoweaving📖 AllinCrypto: Crypto paving the way for a sustainable future📺 Earth Commons 2024: Impactful capital allocation in climate, ecology, and biodiversity📖 dClimate Newsletter: World Bank's State and Trends of Carbon Pricing report🔊 Carbon Capital Podcast: Stoicism and the future of climate action📖 UNFCC: Key standards for UN carbon market finalisedMaking Impact437.50The number of hectares of Amazon and Angolan rainforest reforested by Carbify. Carbify plants agroforestry systems in Brazil and Angola, with over 60,000 systems and 3 million trees planted. Each system, covering 12,5 to 30 square meters, includes diverse plants and trees. The main tree in each system is geotagged and recorded on the blockchain.More From UsVisit us at https://carboncopy.news to get more news, analysis, and data from the Web3 regenerative finance (ReFi) space. You'll also find our curated ReFi projects database and other ecosystem goodies.

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