Universal Protocol Alliance
Climate Impact & Sustainability Data (2020)
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Climate Change
Environmental Achievements
- Launched UPCO2, a tradable carbon credit token backed 1:1 by certified carbon credits, representing one tonne of CO2 or equivalent averted emission.
Social Achievements
- Democratizes access to carbon credit investing for ordinary investors, allowing wider participation in climate solutions.
Governance Achievements
- All underlying carbon credits are held in public registries of leading standards agencies (e.g., Verra); tokens are audited by CertiK.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Limited liquidity in the carbon credit market; slow and expensive certification process for REDD+ projects; insufficient supply of carbon credits to meet growing demand.
Mitigation Strategies
- Creating a tradable token (UPCO2) to increase liquidity and accessibility; leveraging blockchain technology for transparency; collaborating with leading agencies and experts to curate high-quality REDD+ credits.
Supply Chain Management
Responsible Procurement
- Curating carbon credits from certified REDD+ projects through an advisory board of experts.
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Growing demand for carbon credits due to increasing climate regulations and corporate sustainability initiatives.
Reporting Standards
Frameworks Used:
Certifications:
Third-party Assurance: CertiK (for blockchain security)
UN Sustainable Development Goals
- SDG 13 (Climate Action)
UPCO2 supports the reduction of greenhouse gas emissions and the preservation of rainforests.
Sustainable Products & Innovation
- UPCO2 token
Awards & Recognition
- Not disclosed