HBAR Foundation is extremely pleased and takes great pleasure in divulging that Solid World will be launching on mainnet sometime towards the end of the year 2023. This will then be instrumental in the carbon forwarding on Hedera. In turn, it will be immensely beneficial for the HBAR Foundation in terms of being able to scale the Voluntary Carbon markets (VCMs), along with speeding up the increase in carbon projects.
Currently, one of the most difficult propositions the VCMs are up against is that it takes approximately 5-10 years for carbon projects to receive a stamp of certification, along with the issue of the creation for revenue earning. In the meanwhile, projects are stuck with the aspect of spending capital for the carrying out of necessary operations. There are also factors to consider that some projects may fail and, in the bargain, are unable to deliver the credits. Therefore, the need of the hour is to identify these risk situations and thus ensure the success of the projects.
This is exactly where Solid World comes in. It can address the funding issues by offering risk-based analysis, in the case of new carbon projects and also assisting the projects that seem viable to it. It also helps institutions in scaling their carbon financing. This is done with the help of different and lesser-risk carbon financing pools. With the utilization of a more upgradable carbon-negative Hedera network, Solid World is offering the framework that enables the issuing and forwarding of carbon credits in terms of a public market that happens to be absolutely open and with clarity in price signals. Carbon forwards happens to be financial instruments that enable a buyer to freeze the pricing of carbon credits till a further date.
Solid World has built a one-of-its-kind Web3 platform that helps in lessening the associated risk factors in carbon financing. This is done with the help of the building of different carbon-forward liquidity pools. This, in turn, attaches a market price involving separate sorts of carbon projects for the first time. With the utilization of the Hedera Guardian dMRV infrastructure, these liquidity pools provide better data auditability in the case of project delivery, open pricing, and more in-depth liquidity.
Where the HBAR Foundation is concerned, it stands by the building of Web3 communities that are created on the Hedera network. This is achieved with the help of boosting and funding the builders engaged in the development of these communities. In the case of Solid World, it is involved in derisking climate financing by providing different ways of financing carbon projects. These very carbon projects are utilized by corporates in the case of achieving net-zero emissions. According to the Co-Founder of Solid World, Stenver Jerkku, HBAR Foundation, together with Hedera, has taken a pledge to create a complete ecosystem in order to alter sustainability markets and is placing themselves at the front of the green Web3 journey.