Validation of an advanced CO2 life cycle model and non-speculative Emissions Trading System in a digital platform for an efficient sustainable forest management

Introduction

In response to the climate challenge, political priorities, and upcoming legislation or international commitments, LIFE TOKEN CO2 presents a set of novel close-to-market products and services, supported by a business plan and scientific knowledge, which incentivise sustainable practice in the European forest.

Project Goals

LIFE TOKEN CO2 aims to launch an innovative platform to address the Life Cycle of CO2 from its emission to its compensation, assessing different Forest Land Management.

Model Implementation

The project implements a large-scale validation of a novel, accurate, and predictive remote sensing-based model to calculate the absorption of CO2 by forest stands and the improvement through the realization of potential forestry actions.

Model Basis

The model is based on the correlation of experiments and sampling using Eddy Covariance stations and earth observation images, to obtain coefficients that allow the calculation of the potential CO2 absorption of an area.

Digital Platform Features

The final digital platform will also include a non-speculative carbon credits market tool based on official standards, with:

• Smart Contract capacity
• Network Consensus
• Blockchain technology to provide transparency and robustness

The result will also incorporate a set of supporting tools within the CO2 Life Cycle for target users, assuring its replicability and scalability to other species, regions, and types of actors.

Consortium and Collaboration

The Consortium has been created for demonstrating, transferring, and exploiting knowledge, but also for creating novel user-oriented products and services aimed at:

1. Mitigating climate change strategies
2. Avoiding forest deforestation
3. Promoting sustainable forest management

Therefore, the experience and knowledge of the Partners, as well as their contacts network and commercial capacity, is key for the project's success.

Project Implementation

LIFE TOKEN CO2, constituted by 6 Spanish entities with the aim of providing an urgent climate solution at the European level, will be implemented over a period of 42 months with a total budget of €2,987,162.47.