Data ReFined #26: State of ReFi Report, Blockchain-Native Carbon Credits, and Remote Agricultural Mapping

The Newsletter about Climate Data, Regenerative Finance, and Climate Risk ⛅

Greetings from dClimate! The latest issue of our biweekly newsletter is here, showcasing a curated overview of advancements in data-driven climate tech, solutions for climate hazards, and web3-powered climate impact.

This edition includes Carbon Copy's State of ReFi report, Open Forest Protocol's new carbon credit standard, Vox's explainer video on AI and weather forecasting, new research to map and predict agricultural land, as well as Fathom's partnership with the World Bank to provide free flood data to countries prone to climate risks.

Before diving into the latest industry news, we'd like to share our recently published article that comprehensively analyzes the REDD+ and jurisdictional REDD+ (J-REDD+) initiatives within the voluntary carbon market, focusing on their importance in forest conservation and climate change mitigation. The write-up covers the basics of REDD+ projects, addresses current challenges, and examines solutions to enhance data quality and integrity through digital MRV solutions.

Read the article below for all the insights! 👇

J-REDD+ and Pay-to-Preserve Schemes

REDD+: at the Origin of Forest Preservation The voluntary carbon market (VCM) offers several tools to help combat climate change and its negative impacts on the environment, natural habitats, biodiversity, and local communities. These tools are commonly referred to as nature-based solutions, or NbS, such as afforestation, reforestation, or wetlands

dClimatedClimate

Industry News

State State of ReFi Report

Carbon Copy, in coordination with ReFi DAO, has published a comprehensive report on the ReFi sector, offering insights into industry trends, potential opportunities, and existing challenges. The report also features a detailed landscape map of the regenerative finance movement, mentioning dClimate as one of the prominent data solutions.

For more in-depth information, access the report through the provided link.

The State of ReFi Report | CARBON Copy

The preeminent source of ReFi news, information, and analysis.

CARBON Copy

Blockchain-Native Carbon Credits

Open Forest Protocol has introduced a new carbon standard named the Open Carbon Credit (OCC), distinguished by its full traceability on a public blockchain. This novel approach ensures transparency and accountability throughout the entire lifecycle of carbon credits, from the inception of the carbon development project to the retirement of the credits in question.

The First Open Carbon Credit Has Been Created on Open Forest Protocol

Global Carbon Market Outlook 2024

BloombergNEF's recent report on the global carbon markets reveals a shrinking disparity between compliance and voluntary markets, with new compliance schemes showing greater flexibility towards incorporating carbon offsets.

Global Carbon Market Outlook 2024 | BloombergNEF

Prices across some carbon markets are expected to inch closer together in 2024, as newer programs break records and more mature schemes cool.

BloombergNEF

Using AI Models for Weather Forecasting

Vox's latest video sheds light on how artificial intelligence is transforming weather forecasting. Highlighting the shift from traditional methods, AI enables the generation of over a thousand forecast ensembles, significantly surpassing the usual fifty. This increase drastically reduces uncertainty in weather predictions.

Free Flood Data for 16 Climate Vulnerable Countries

Fathom will provide its flood data at no cost for non-commercial use to 16 countries under a new agreement with the World Bank. The included countries are particularly vulnerable to climate change and often lack extensive data resources. This collaboration aims to enhance data accessibility for these nations, aiding in future planning and resilience against water risk​​.

Fathom - World Bank collaboration

A new benchmark in global flood mapping.

FathomJessica Roberts

Mapping Crops Remotely

MIT engineers have developed a method for quickly and accurately mapping crop types across large areas using machine learning, satellite imagery, and Google Street View photos. This technique has identified the four major crops in Thailand with 93% accuracy. The approach represents a significant advancement in agricultural mapping, particularly for emerging economies, where smallholder farms dominate but lack detailed agricultural data​​.

MIT researchers remotely map crops, field by field

A new method can remotely map crop types in low- or middle-income countries where agricultural data are sparse. The maps will help scientists and policymakers track global food supplies and estimate how they might shift with climate change and growing populations.

MIT News | Massachusetts Institute of TechnologyJennifer Chu | MIT News

Insurance Premiums Rise Due to Extreme Weather Events

This article from the Financial Times reports on a global trend where extreme weather events, exacerbated by climate change, challenge the insurance industry's ability to offer affordable coverage. With insurance losses from natural catastrophes topping $100bn annually in recent years, companies are reassessing their risk models and pricing, leading to higher premiums and reduced coverage availability.

The uninsurable world: what climate change is costing homeowners

Rising premiums are a de facto ‘carbon price’ on consumers as extreme weather events become more frequent

Predicting Agricultural Risks and Land Suitability

A new study analyzed data from climate models and socioeconomic scenarios to predict cropland distribution changes across Eastern Europe and Northern Asia. The research anticipates a northward shift in arable land, with some areas requiring enhanced irrigation, highlighting the need for detailed regional climate risk assessments to adapt to climate variability and secure food supplies​​.

Researchers use AI to predict how agricultural land suitability may change by 2050

By 2050, scientists predict that global demand for food will increase by 110%, while today about 40% of croplands and pastures are under threat due to the increasing average temperature on the planet, high concentrations of greenhouse gases in the atmosphere, and many other factors.

Phys.orgOleg Sherbakov

Thank You for Reading! 💙

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