KNR management is ahead of the pack in controling climate
change costs!!
"Kontrol Energy Corp. (“Kontrol”, or the “Company”) (CSE: KNR, FSE: 1K8) announces that it is developing, in cooperation with the company it is proposing to acquire (see Kontrol’s news release dated February 2, 2018), a utility token (GHGcoin) and Carbon Offset trading platform. The GHGcoin is expected to be a unique solution based on distributed ledger technology (DLT) and is aimed at sequestering up to 10 Billion tonnes of C02 through the carbon offset markets.
The GHGcoin will be designed as a utility token and is intended to offer transparency, immutability and accountability for organizations to meet their net zero emission targets. The GHGcoin will have a finite issuance based on the reduction and/or sequestration of up to 10 Billion tonnes of C02 over 10 years. GHGcoins would be issued to participating organizations based on their own internal targets to become a net zero emission company. DLT smart contracts will allow organizations to grant the GHGcoin as a reward for consumer spending and engagement in support of carbon offset projects. The value of each GHGcoin will be pegged to the equivalent value of one tonne of C02.
In highly regulated emission compliance markets various government agencies make the rules about what types of offsets are permitted and the verification standards required to be achieved. In contrast, the voluntary carbon offset markets typically follow rules prescribed by industry standard bodies. Currently, c arbon offsets are mainly used by companies that are seeking to voluntarily offset the emissions generated during their business activities, to meet certain social responsibility goals. However, an increasing number of companies are seeking to accelerate their participation in carbon offsets to achieve a net zero emission status.
“The solution to negating and reducing C02 levels is multi-faceted and complex, especially for large organizations. We believe that a significant part of the solution is scaling up the ability to participate in carbon offset projects,” says Paul Ghezzi, CEO of Kontrol Energy. “While many corporations are currently participating in carbon offset projects, they are typically constrained in size and scope and burdened by high transaction costs. We seek to solve these challenges for our customers and accelerate their move to becoming a net zero emission organization.”
In addition to the GHGcoin, Kontrol is developing its Carbon Offset trading platform. “Through distributed ledger technology it is possible for carbon offset vendors to disaggregate their projects across multiple purchasers and for purchasers to participate in peer to peer transactions across multiple projects and multiple jurisdictions simultaneously. Further, transactions costs can account for up to 50% of a carbon offset purchase and we see an opportunity to eliminate these prohibitive fees with a peer to peer exchange solution,” continues Paul Ghezzi.
Following the formalization of the Paris Climate Accord, with the participation of 193 countries, there is a growing list of global organizations that have committed to achieving net zero emission status by 2050. Some notable examples include leading organizations which have formed the BTeam (www.bteam.org ) and Climate Neutral Now (www.climateneutralnow.org). To achieve their goals, these organizations will need to allocate a significant portion of their strategy to carbon offset projects. Kontrol seeks to be a leader in providing DLT solutions in the voluntary carbon offset markets. Both the GHGcoin and the Carbon Offset trading platform are in development for 2018.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR, FSE: 1K8) is a leader in energy efficiency solutions and technology. Through a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in Greenhouse Gas (GHG) emissions.
