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NEW YORK – September 15, 2022 – (Newswire.com)

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There are approximately 672,000 tonnes of HFC-23 credits within the BCT pool, KlimaDAO’s community has voted to remove them from the pool to improve the quality of contained credits.

SAN FRANCISCO – September 15, 2022 – (Newswire.com)

KlimaDAO has announced that it has allocated a limited amount of its treasury holdings to remove the HFC-23 credits from the Base Carbon Tonne pool and “burn” them – an act which means that the environmental benefit of these tokenized carbon credits cannot be claimed by any entity or organization. You can view the details here.

HFC-23 carbon credits were phased out from the Verra Registry in January 2014 after they were banned in the compliance markets, with concerns cited around HFC-23 facilities gaming the system to create new carbon credit issuances that could be sold on into the market for a profit. 

Two carbon projects had been registered with the Verra Registry prior to the phase-out, with one issuance made from the Yingpeng HFC23 Decomposition Project of 4.5mn credits. A number of these credits remain live on the Verra Registry, meaning their environmental benefit can still be claimed through the retirement of the credits. Data from AlliedOffsets shows that up until 2020, these credits have been retired by a number of entities to claim their environmental benefit. 

The initial design of the Base Carbon Tonne pool by the Toucan Protocol allowed a broad range of carbon credits to be deposited in the pool, providing they had a vintage of 2008 and onwards. It wasn’t until a number of HFC-23 credits had been deposited into the pool, and concerns were raised about the quality of these credits, that the depositing of HFC-23 credits was blacklisted by Toucan. 

Today, KlimaDAO holds over 90% of the Base Carbon Tonne pool within its treasury reserves and its liquidity pools on the SushiSwap platform. The primary function of the credits within the liquidity pools is to enable users of on-chain carbon to acquire tokenized carbon credits and claim their environmental benefit of them efficiently and transparently by retiring them on the blockchain using KlimaDAO’s retirement aggregator infrastructure. 

To address concerns around the quality of these credits, KlimaDAO utilized its decentralized governance process to host a discussion with its community members on its Forum about the removal of these credits from its ecosystem. A token vote of the community members on the SnapShot platform passed with 83% approval to destroy the credits. 

The approximately 672,000 HFC-23 credits in the BCT pool have now been burnt and removed from KlimaDAO’s tokenized carbon credit ecosystem. 

Drew Bonneau of KlimaDAO said, “Both market commentary and the available data on the HFC-23 credits demonstrate to us that this credit is considered at best low-quality, and at worst valueless. After discussing the issue with our community it is clear to us that removing these tokenized carbon credits from our ecosystem is the desired approach.” 

Bonneau added, “One of our strengths as a DAO is that we are able to bring in the perspectives of our 70,000-strong community, which includes a number of advisors from across the carbon market – we are grateful for their engagement and encourage continued participation with our DAO’s governance processes as we develop our ecosystem in line with market needs.”

About KlimaDAO

KlimaDAO is an on-chain scaling solution for the Voluntary Carbon Market. By combining tokenized carbon credits with a blockchain-enabled technology stack, KlimaDAO aims to open up the market to greater transparency and efficiency.

If you are interested in participating in KlimaDAO’s governance process, join the Forum. If you are a business looking to offset your carbon footprint, get started here. 

For more information, please see https://polygonscan.com/tx/0x4dc5dc1b6e7d2a6c58ff244a8e2bf8dcd6e93c3576f6bcf9f24de9329f4753c1

Press Contact
Natacha Rousseau 
[email protected]

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KlimaDAO Cleans Up HFC-23 Credits From the Base Carbon Tonne (BCT) Pool

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MONUMENT, Colo. – September 9, 2022 – (Newswire.com)

Shadow Warriors Project announced today that it received a one-of-a-kind custom engraved rifle from one of the country’s leading firearm manufacturers, Henry Repeating Arms, which will allow the nonprofit group to further its mission of providing post-engagement support and rehabilitation to private military contractors returning from battle. The rifle is being displayed at the organization’s First Annual Golf Tournament & Gala from September 11 through September 12 in Miami, Florida, where attendees can place their bids in an online auction alongside firearm collectors from around the country. All proceeds from the winning bid are being presented directly to the Shadow Warriors Project.

“Words cannot express how grateful we are for this gift from Henry Repeating Arms. The rifle is the most stunning I have ever seen and way above and beyond what I could ever imagine,” said Mark “Oz” Geist, Shadow Warriors Project co-founder. “For this company that already does so much for active-duty and military veteran organizations to recognize the need for support in the often-overlooked segment of private military contractors is remarkable. To anyone considering placing a bid on this rifle, helping us spread the word, or supporting us in any other way, we cannot thank you enough.”

The Shadow Warriors Project was created by Geist, a member of the Annex Security Team that fought the Battle of Benghazi, Libya, from Sept. 11 to Sept. 12, 2012, where he is credited with helping to save the lives of more than 25 Americans. The injuries he sustained in battle prevented his return to normal civilian work, and with no official post-engagement support programs for those in his line of work, he became passionate about making the outlook better for those that would find themselves in a similar situation. The Shadow Warriors Project helps by assisting with medical bills, PTSD treatment, family therapy, and educating the public about this unsung constituency. Geist is also a public speaker and the co-author of the bestselling book ’13 Hours: The Inside Account of What Really Happened in Benghazi’.

“After learning about Mark’s service and the story about what he and his brothers endured before, during, and after the 2012 Benghazi attack, I felt the need the need to pull out all of the stops and create a rifle that looks so good it can’t be ignored,” said Anthony Imperato, CEO and Founder of Henry Repeating Arms. “Mark and his foundation have my full, unwavering support, and I look forward to seeing how well this auction goes. We are all keeping our fingers crossed for an auction record.”

The online auction, facilitated by Henry Repeating Arms and Gunbroker.com, is available at https://www.gunbroker.com/item/946003221 and concludes on Friday, September 16, at 9:00 a.m. Eastern. All firearm sales must ship to a federally licensed dealer. For more information about Shadow Warriors Project, visit shadowwarriorsproject.org.

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About Shadow Warriors Project:

Shadow Warriors Project is a 501c3 tax-exempt organization dedicated to the support of private military security contractors, conducting paramilitary security operations in some of the world’s most dangerous areas. It is the only charity of its kind. The Shadow Warriors project was created by Mark Geist, a private security contractor, who was injured while protecting the people inside the CIA security Annex from a terror attack on Sept. 12, 2012. His injuries prevented him from being able to return to work, which made it difficult to provide for his family. Because of the “red tape,” financial struggles and little to no support for the men in this line of work, he was passionate about finding a way to help ease the load from already heavy shoulders. Visit Henry Repeating Arms online at shadowwarriorsproject.com, on Facebook at facebook.com/ShadowWarriorsProject, and @shadow_warriors_project on Instagram.

Press Contact:

Shadow Warriors Project

15954 Jackson Creek Pkwy, Suite B #564, Monument, Colorado, 80132

Mark Geist, [email protected], (719) 248-4047

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Shadow Warriors Project Receives 1-of-1 Rifle Donation From Henry Repeating Arms for Private Military Contractor Support

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MELBOURNE, Australia – September 9, 2022 – (Newswire.com)

According to Halal finance experts, Hejaz Financial Services, Australians want to see themselves reflected in their financial investments. As the country’s leading diversified provider of Islam finance products and services, Hejaz explains that it is no longer enough for financial advisers to focus only on fees and returns. Instead, Australians want their investments to reflect their moral and ethical values. The growth of Islamic finance has put financial inclusion in the spotlight, says the Hejaz team.

There remains a distinct lack of customer-centricity around financial advice. In the past, advisers have been heavily incentivised to sell products rather than advise their clients on how to improve their financial situation, says the Sharia loans provider.

Consumers have a right to sound, high-quality financial advice and advisers have a duty to act in the best interests of their clients. To do this, there needs to be a focus on representing the views and opinions of clients, both knowing and understanding their individual circumstances. Financial advisers should consider the values of their clients too when assessing which investments to include or exclude from their portfolio, says Hejaz.

Hejaz points out that there needs to be more of a focus on enabling the provision of high-quality, accessible and affordable financial advice. The Halal home loan provider says it welcomes any dialogue at a national level that will allow the industry to better service growing demographics, including the rapidly expanding Muslim community. 

Modern consumers want to see a reflection of themselves in their investments, says the Halal loans expert. By taking into account the ethics, religious and personal beliefs of clients as well as their goals, financial advisers can build trust and longer term relationships with their clients. 

Contact us – 

Level 11, 2 Queen Street Melbourne 3000

PO BOX 96 Flinders Lane VIC 8009

1300 043 529

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Experts Weigh in on the Importance of Expanding Access to Specialist Financial Advice That Aligns With the Ethical Requirements of Consumers

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