Climate Action Data (CAD) Trust
Climate Action Data Trust is a decentralised metadata platform that links, aggregates and harmonises all major carbon registry data to enhance transparent accounting in line with Article 6 of the Paris Agreement. The CAD Trust open-source metadata system uses blockchain technology to create a decentralised record of carbon market activity with the aim to avoid double counting, increase trust in carbon credit data and build confidence in carbon markets.
By connecting registries through a decentralised infrastructure, and making CAD Trust information publicly available, it will be possible to identify risks of double counting that can damage the integrity of the markets. The data layer can be used to support data sharing, and it provides a backbone infrastructure that can support services built by the public and private sectors to support market activity, such as compliance reporting, transacting, and benchmarking services.
Operational Phase:
- Official launch was announced on December 7, 2022, at Asia's Climate Summit in Singapore.
- Management has been transferred to an independent legal entity created in Singapore and it is led by the Council and the Board, and supported by the Technical Committee, User Forum and the Secretariat.
- The CAD Trust Data Dashboard will be launched in Q4 2023.
