CONSUMER AND ORGANIZATION-DRIVEN DECARBONIZATION
How do we incentivize consumers and organizations to accelerate decarbonization by creating a CO2 footprint measurement, accountability and investment tool?
APPLICATIONS OPEN
January 20
ODYSSEY CONNECT
February 4-5
APPLICATIONS CLOSE
February 24
WORKSHOPS
March 3 – 10
HACKATHON
April 3 – 5
ODYSSEY IGNITE
May 11 – 15
APPLICATIONS OPEN
January 20
ODYSSEY CONNECT
February 4-5
APPLICATIONS CLOSE
February 24
WORKSHOPS
March 3 – 10
HACKATHON
April 3 – 5
ODYSSEY IGNITE
May 11 – 15
THE CHALLENGE
Co-create an inclusive global CO2 accounting framework and infrastructure to accelerate the consumer-driven decarbonization of our global economy. Incentivize participants – consumers, corporations, energy providers, accounting firms – to use a detailed, direct and transparent CO2 offsetting tool to enable stakeholder communication.
CONTEXT
The cost to consumers and companies currently ignores the societal and environmental impact of CO2 emissions caused by production and transportation. For example, consumers in Europe pay no more for berries from Peru than sprouts from Brussels, despite vastly higher CO2 cost.
While there is an EU emissions trading system (EU ETS) system which created a carbon market, it only works for major energy-consuming industries and does not connect directly to smaller organizations and consumers.
Additionally, there is no universal accounting protocol to communicate carbon usage and savings data for both consumers and organizations, which exist for processes like financial transactions or email.
IMPACT
By creating a tool to track decarbonization efforts, this new public digital infrastructure would hold everyone accountable for their (green) choices, while incentivizing and empowering consumers and companies to invest in decarbonization. The protocol would unlock an entirely new market and makes CO2 saving and accountability ‘just part of the deal’.
A WINNING TEAM WILL...
Demonstrate an interconnected protocol solution that allows stakeholders (e.g., government, big industry, companies, and consumers) to communicate their existing data on green initiatives to parties such as accountants, governments, customers and stakeholders.
Demonstrate possibilities to open up the market on top of this protocol for applications to guide organizations in lowering and being accountable for their footprint.
Create a direct incentive and de-carbonization investment fund (CO2 credits you don’t want to own) where consumers and companies receive an annual balance/score and can invest the ‘CO2 credits tax’ owed in certified projects of their choosing.
Key element
Making CO2 accountability as normal as paying taxes.
ECOSYSTEM
VMware
KLM Cargo
Vattenfall
Digital Asset
Rijksdienst voor Ondernemend Nederland (RVO)
WHAT HAPPENS
WITH THE WINNER
VMware aims to incubate the best solution(s) in a pilot, opening opportunities for further development.
THIS CHALLENGE CONTRIBUTES TO SOLVING:
12.6 Corporates adopt sustainable practices and integrate sustainability information into their reporting cycle.
ELIGIBLE TEAMS
STUDENT TEAMS
STARTUPS
ESTABLISHED STARTUPS
SCALE-UPS
SMES
CORPORATE TEAMS
COMMUNITY TEAMS
TEAM QUALITIES
Besides technical, tokenization and token economics expertise, the team should have knowledge of (international) taxes and accounting practices and standards or a strategy on how to obtain and use such knowledge.
REQUIREMENTS
START YOUR JOURNEY
Have you already seen the trailer?
Get an ultimate headstart in hackathon preparation
February 4-5 in The Hague, The Netherlands.
Engage with a global ecosystem of like-minded innovators and entrepreneurs.
The Odyssey community platform is the place to connect online. Find team-mates and experts on a needed subject, and meet the challenge leads and their stakeholders, anytime before the hackathon.
Apply for the Odyssey Hackathon 2020. Team applications are open from January 20 until February 24.
