KlimaDAO Launch, Reflections on our Manifesto
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KlimaDAO began long before its individual members knew of each other. Each, in their own way, had begun to explore the potential of this emergent paradigm in decentralized finance and stood in awe as innovations began to emerge. KlimaDAO’s infrastructure is but a framework standing upon the shoulders of giants. Ethereum, Polygon, Balancer, to name but a few. Most importantly, KlimaDAO was given the incredible opportunity to build off of the work of OlympusDAO and channel its innovations toward delivering finance to high-impact carbon sequestration and mitigation projects.
When we began this journey together we drafted a number of manifestos; slowly but surely we wove them together to form a vision which united each of the founding members. Unequivocally, we agree that climate change is the ultimate issue — the Earth is a fine place and worth fighting for.
The climate change context
We are on the brink of missing the opportunity to limit global warming to 1.5°C above pre-industrial levels. If we rely on the existing policy commitments of governments, we should expect temperatures to rise 3.2°C this century. People are already losing their homes and lives to a changing climate and the rate of destruction is accelerating. We cannot wait any longer.
Establishing the low carbon economy is a key task. The carbon economy will internalize the true cost of carbon in every transaction, facilitate market-based instruments for its trade, and incentivize decarbonization across the economy.
Many of the carbon mitigation technologies and solutions required to decarbonise are here and commercial today, they require investment to scale-up. There are also emerging solutions which require innovation investment to ensure they can commercialise, penetrate the market, and begin delivering emissions abatement and reductions at scale. There are also key interventions that require a philanthropic approach to investment that may not have direct return on capital, but will be instrumental in protecting our environment and rebuilding our ecosystems to both temper the impacts of climate change and reduce the rate of change.
KlimaDAO will provide a direct route to invest in these avenues of action.
Critically, we believe that climate change is a money problem and a coordination problem. $100s of billions are still poured into oil and gas each year, even when viable alternatives to generate energy and produce commodities are present. There is a collective sentiment across the world that action is required, yet we are still in stasis. To get a grip on what needs to be done, we need to address financial and organisational barriers, immediately.
The power of the blockchain is unrivalled
To deliver the change required, we need immediate and widespread mobilisation and coordination of those that can contribute, and those that want to participate. The change needs to be managed laterally and co-operatively, rather than top-down by those who are unaccountable.
Blockchain & Ethereum can enable this:
- DeFi can efficiently deliver a step change in the way we collectively pool our capital to deliver impact.
- Smart contracts can disintermediate, facilitate and automate, and enable novel reward systems.
- DeFi technologies can enable coordination, collaboration and innovation, with transparency and accountability.
- Open source software and composability can enable rapid scaling of this vision.
Blockchain can and will open up new ways for managing our resources and collaborating across networks in the coming years. It will be the foundation for us to efficiently coordinate resources, outpace stale bureaucratic and political processes, and remove the need to jump through hoops required to get exposure to the low carbon economy.
Our first steps as an organization were made between disparate allies that had little idea of each other’s existence. Over time, the stars aligned such that our activities in the DeFi and sustainability favored coordinating together and building what is now KlimaDAO. As we progress, our Decentralized Autonomous Organization will invite participants from within and outside the DeFi space to organize, share, coordinate, and push the boundaries of what is possible. Our team gives a heartfelt thanks to everyone who put their skin in the game, including our early IDO and LBP supporters, as well as our bold investors. Together, we stand with open arms to all those who wish to contribute to this endeavour as we walk forward together.
This is just the beginning of what we will build.
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