Climate-change-focused Klima decentralized autonomous organisation (DAO) has accumulated over 9 million tonnes of carbon offsets according to a Monday annunciation. The USD value of those offsets has surpassed $100 million.

In a web log mail service, the project explained that those offsets are equivalent to the annual emissions of Georgia, Jamaica or Papua New Republic of guinea. The Klima DAO protocol aims to increase the price appreciation of carbon assets.

The core team told Cointelegraph that it intends to put upwards pressure level on the price of carbon offsets "so that information technology becomes more than profitable to engage in commencement-generating activities, such as conserving state for carbon sequestration, or restoring forests and wetlands."

Carbon offsets are reductions in greenhouse gas emissions in one place to compensate for emissions somewhere else.

Past accumulating all those offsets, known every bit Base Carbon Tonnes (BCT), the Klima DAO treasury has locked in nigh 85% of the existing 10.7 million BCTs on-chain. Each BCT is a digital asset representing one tonne of carbon from the Verified Carbon Unit (VCU) registry, which has been bridged onto the Polygon Network by the Toucan Protocol.

Every bit the balance of BCT in its treasury increases:

"The Klima DAO community will expect to promote higher quality carbon start projects, particularly in developing economies."

The project hopes to stimulate growth in the cost of BCT tokens by offer fee sharing, a bonding plan and incentivized liquidity pools on Sushiswap.

The project is taking reward of blockchain as a record-keeping system that tin create standardization and accountability in assessing information most the economical and environmental impact of offsets efficiently.

Related: Crypto'south climate impact: Are carbon offsets good enough?

Climate change command via blockchain has become a common topic among both the tech-savvy and environmentally sensitive. During this calendar week's GOP26 consequence in Glasgow, Scotland, groups from the United Citizens Organization and the Climate Modify Coalition advocated for green economic system initiatives.

The University of Cambridge also announced this week that it would piece of work with Tezos to create a decentralized carbon credit marketplace.