Project Category: Entrepreneurial
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About our project
ZOHRBS’s objective is to democratize the carbon credit trading mechanism and allow companies that are voluntarily participating in the market to meet their net zero-emission targets. This project intends to:
- Provide a trading platform that allows firms to register their generated carbon credits to sell, or search for available credits that other firms have listed to purchase.
- Create a framework for companies by which they can have their credits validated and classified.
- Price the credits according to their quality rating (similar to how government and corporate bonds are priced).
Meet our team members
Details about our platform
HOW OUR PLATFORM ADDRESSES PRACTICAL ISSUES
ZOHRBS helps companies meet their net-zero emission targets. It is a solution to help reduce the impacts of the environmental issues we face with carbon emissions. Currently, companies struggle to verify the authenticity of existing carbon offsets. This causes them to spend countless hours doing due diligence on projects. Our platform will allow users to buy verified carbon offsets. Further, these offsets will be ranked using the ZOHRBS quality metrics.
Here’s an article on a real-life example based on the issue of quality in carbon offsets:
WHAT MAKES OUR PLATFORM INNOVATIVE
Shown below is a schematic of how our quality rating algorithm will work. There are five main categories and a total of eleven subcategories. Each project will be rated in the eleven categories. Once a score has been assigned, the user will be able to assign a weighting to each category. This will allow buyers to buy offsets from projects that meet their goals. A solution like this is not offered by any of the current competitors.
WHAT MAKES OUR PLATFORM SOLUTION EFFECTIVE
On the trading platform, all credits will be ranked in a transparent matter. For all projects, the rating received in each category will be visible to all users. A description of how these were ranked will also be available. The overarching methodology used to rate every project will also be available to all customers.
HOW WE VALIDATED OUR PLATFORM DESIGN SOLUTION
During our customer discovery process, we spoke with multiple traders, principals, and analysts from companies such as Ernest & Young, British Petroleum, etc., who expressed their desire to have a platform that increases convenience and consolidates the features provided by our platform such as quality rating metrics.
FEASIBILITY OF OUR PLATFORM DESIGN SOLUTION
We will charge a trading fee that will be sufficient to meet our audit expenses. Another source of revenue will be a monthly subscription fee charged to all users. We project that with the growing carbon market, we will have enough new users to create a vibrant trading community. In preliminary financial projections, we will need to raise initial capital to fund the first few audits. We plan to raise this from angel investors, VCs, and accelerators.
Partners and mentors
We want to thank the many people who helped us with this project. Our academic advisor Dr. Sean McCoy, business advisor Leo Mui, and technical advisor Manuel Zamudio Lopez guided us through the process with patience and great advice. We had the opportunity to consult with individuals from companies like Nexus Strategy, Verra, Ernst & Young LLP, and more, through which we gained invaluable insights.
Our photo gallery
