Integrating carbon into the economy and community by using a positive approach to banking, that values and trades carbon.
Mike Smith is Co-Founder and Head of Operations. He has over 30 years in the organic / sustainable farming sector, positively contributing to the development of environmentally regenerative farming for future generations throughout Australia and the South Pacific. He is the Founding Principal of the Organic Matters Foundation. A not-for-profit organisation that empowers farmers at the grass roots level through education & training on all aspects of regenerative farming. Mike also works as a regenerative farmer with his partner Cheryl on the Solum Farm in the Clarence Valley, Australia.
Tim O’Brien is Co-Founder and Head of Product. He has over 17 years experience building innovative solutions to systemic problems, developing ventures and supporting organisations to scale with impact. He is the founder of an impact advisory firm (Hatched), and an impact measurement platform (Rooy).
The Carbon Bank
Offset your carbon calories
Vision
For carbon trading to form an integral part of the economy and community.
Purpose
To create a mass participation carbon market through a innovative approach to carbon banking.
Approach
To develop an innovative banking platform for individuals to offset & trade carbon (The Carbon Collective).
Background
For several years, Batiki Island, Fiji has been farmed and operated under regenerative management, making it one of the world’s very few Organic Certified Islands. The island’s management has embraced a positive & innovative approach to regenerative farming, using education (Soil School), data collection and third-party analysis to monitor & increase the amount of Soil Organic Carbon (SOC) on the island. As a result, the island has achieved an average yearly increase of 0.7% in Soil Organic Carbon (SOC). The Organic Matters Foundation has supported the island’s efforts, working with Batiki Management to achieve these outstanding & unprecedented results.
Creating A Mass Participation Carbon Market: With the first-generation of the CC complete, we are now seeking to raise capital to complete research & development and begin work on the second-generation of the CC. Additionally, the raise will: (1) prove mass carbon trading as a concept and gain trust in the CC as a new and innovative banking platform; and (2) establish the pilot as a viable income stream for Batiki island.
To raise the funds, we are running a Carbon Auction. The Carbon Auction will give individuals the opportunity to buy Sequestered Carbon to offset their own emissions, and open their very own carbon banking account.
The amount of carbon for auction has been carefully calculated. Batiki Island’s total Sequestered Carbon has been measured to take into consideration the islands total carbon footprint. This amount has then been subtracted from the island’s yearly Sequestered Carbon, leaving us with a net amount of carbon to Auction of approximately 53,000 tons. Batiki Island will deposit the 53,000 tons of carbon into the first carbon bank account - ‘Account No1’. Once auctioned, Batiki island and its community will receive an ongoing interest on the carbon sold, at a rate that follows traditional banks cash interest rates (+4%).
Outcomes
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The first ever Carbon Banking system that allows mass participation globally.
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A new income stream for Batiki island, taking sustainability to the next level.
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The ability for CC to complete the pilot project & begin building the next generation & expansion of the CC network.