WattCarbon has introduced its energy transition marketplace, a first-of-its-kind platform for leveraging building decarbonisation as an explicit climate strategy. WattCarbon has created a new, high-impact path for climate action that enables any organisation to secure traceable, immediate reductions in fossil fuel use and avoids the pitfalls of low-value carbon offset markets.
“Global warming is the direct result of burning fossil fuels. The era of carbon offsets is over. To avoid a catastrophic climate disaster, we need a massive reduction in emissions – today. Buildings are the most direct and accessible path to achieving near-term carbon reduction goals, and will be integral to long term resilience strategies,” said WattCarbon founder and CEO McGee Young. “The technology to decarbonise buildings exists, and is ready to be installed. We simply need to go faster.”
WattCarbon offers organisations with ambitious climate goals the opportunity to make instant emissions reductions by acquiring Energy Attribute Certificates (EACs) generated from building decarbonisation initiatives. The proceeds from these EACs directly support companies leading the charge in the energy transition, enabling them to implement more projects at a reduced cost for consumers while expanding their workforce of clean energy professionals. Buyers receive allocated EACs from various projects, spanning building electrification, renewable energy adoption, demand response, which can be applied to offset Scope 1, 2, and 3 emissions. This process creates a direct and effective pathway for organisations to take immediate and tangible actions to combat climate change.
Buyers are eyeing WattCarbon’s marketplace as a way to ensure that their net zero goals have the desired impact. “We are excited to support WattCarbon’s vision to accelerate decarbonisation, as investors in their company and as buyers in their marketplace,” says Malcolm Cameron of Greensoil Proptech Ventures. “Not all of our emissions can be directly eliminated, as we rely on fossil fuels for a portion of our electricity and heating. With this new marketplace, we can offset those emissions by funding building electrification and clean energy deployment. WattCarbon’s marketplace delivers a high degree of transparency and we take comfort that we can see the carbon reduction impact of our investments on an hour-by-hour basis.”
WattCarbon’s market is powered by the world’s most advanced, hourly granular energy tracking platform, providing buyers with transparent measurement and verification of their impact. WattCarbon’s platform aggregates emissions data, metred consumption and production data, along with weather and other related data, and converts it all into carbon savings using standardised, open-source methods. “We are taking known energy data and combining it with known emissions data to create the most verifiable impact measurement available,” added Young. “Impact-focused buyers are looking for climate solutions that they can trust. Our platform gives them transparency and confidence that their purchases eliminate emissions and helps accelerate the clean energy transition.”
WattCarbon’s Measurement, Reporting, and Verification (MRV) philosophy is grounded in principles of open source. The company is a member of LF Energy and a contributor to the Carbon Data Specification Consortium and the OpenEEmeter, projects hosted by LF Energy to ensure access to data required for hourly carbon emissions accounting. “We believe in the power of transparency to ensure accountability in voluntary carbon markets. Our software and accounting methods are open source and available for any auditor to review for accuracy. The days of trust, but don’t verify are over,” said Young.
