Hyphen Brings EU-Funded Copernicus Carbon Flux Data to Blockchains Through Chainlink DON
We’re excited to announce that the Hyphen Chainlink Decentralized Oracle Network (DON), a Chainlink Grant recipient, has expanded its data offerings to blockchains to incorporate carbon flux data from the EU-funded Copernicus Programme.
As the effects of a warming world are becoming more evident, increasing numbers of organizations are stepping up their ambitions to reduce their carbon footprint and setting out actions to achieve a net-zero carbon emission world. Assessing an organization’s climate progress requires monitoring and an understanding of its emission profiles against the backdrop of what is happening to the overall carbon cycle. Carbon dioxide, along with the other important greenhouse gases such as methane and nitrous oxide are measured by quantity and rate of change — called fluxes — identifying the amounts of carbon being exchanged between the atmosphere and the ocean, or the atmosphere and Earth’s land surface and biota. These exchanges can be positive or negative flows where atmospheric carbon can be increased, such as through the burning of fossil fuels, representing a carbon source; or where atmospheric carbon can be decreased through the absorption of carbon dioxide, such as by carbon capture technologies and photosynthesizing plants that are carbon sinks.
How Hyphen Is Leveraging Copernicus Data To Help Firms Reach Net-Zero
To measure carbon fluxes, the Copernicus Programme collects Earth observation data from land- and sea-based instrument sources as well as Earth-observing satellites. In addition to primary data inputs provided from global sources and EU member countries, Copernicus has launched — and continues to launch — purpose-built satellites known as Sentinels to deliver high-quality data pertaining to climate change, including global sea-surface height, atmospheric monitoring, and land and ocean services. Additional data is also freely acquired through cooperative, multilateral international arrangements with other countries.
Hyphen builds access to available greenhouse gas (GHG) flux data sets, translates Copernicus’ scientific datasets into user-friendly, smart contract-ready formats, and provides expertise to help financial sector firms reach their emissions goals. This expertise works in both directions — Hyphen helps Copernicus improve its client interfaces and data usage through its understanding of how private sector firms can leverage the data to its maximum potential, helping accelerate the development of impactful and measurable initiatives that bring the world closer to net-zero emissions.
Bringing Accurate and Transparent Carbon Data On-Chain
By using Chainlink to bring Copernicus carbon flux data on-chain, Hyphen helps power the development of better reporting frameworks, climate action initiatives, and incentives for financial services firms to reach net-zero. From quality-rated carbon-backed digital assets underpinned by high-quality data to verifiable, end-to-end tracking of environmental initiatives, Hyphen leverages Chainlink to help give Web3 developers the high-quality data they need to combat the imminent threat of climate change.
“A means for reliable, transparent, and tamper-proof reporting of greenhouse gas reductions is becoming ever more important today, as organizations worldwide undertake actions to reduce their carbon footprint and financial incentives such as green bonds ramp up. Using Chainlink and Copernicus, Hyphen brings a capability that will support monitoring of individual actions against a backdrop of global progress, which is essential for valuation in today’s carbon markets,” says David Grimes, Hyphen Chief Climate Officer and Past President of World Meteorological Organization.
Using Chainlink as the preferred blockchain oracle solution provides a variety of benefits. As the industry-standard decentralized oracle network, Chainlink has already integrated — and continues to integrate — with the industry’s most prominent blockchains and has the native ability to integrate into any public or private blockchain. Additionally, the robust, decentralized architecture of Chainlink provides Hyphen with the tools to cryptographically sign climate data on-chain to give developers high assurances of data accuracy and quality, seamlessly plug in Hyphen’s APIs in a way that minimizes operational overhead, and continuously add more transparency and verifiability to Hyphen-powered data as Chainlink expands in functionality. This helps power unprecedented flexibility for firms and unlocks verifiable data and end-to-end emissions tracking to support climate initiatives.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Hyphen is committed to pioneering science-based digital MRV solutions with a strong emphasis on environmental preservation and collaborative stakeholder engagement. We firmly believe that safeguarding biodiversity and ecosystems is imperative for a sustainable future. By harnessing real-time atmospheric greenhouse gas data, our mission is to enhance the integrity of carbon markets.
Hyphen’s methodologies have been honed through over six decades of research conducted under the auspices of the World Meteorological Organization. We place atmospheric greenhouse gas monitoring at the forefront of efforts to improve the verification of emissions reductions, removals and sources. In an era characterized by the global shift toward a green economy and the overarching goals of the Paris Agreement, Hyphen stands as a leader, advocating for science-driven MRV solutions that unlock the full potential of voluntary carbon markets and comprehensive sustainability initiatives.
Copernicus is a component of the European Union’s space programme, with funding by the EU, and is its flagship Earth observation programme, which operates through six thematic services: Atmosphere, Marine, Land, Climate Change, Security and Emergency. It delivers freely accessible operational data and services providing users with reliable and up-to-date information related to our planet and its environment. The Atmosphere Monitoring Service is implemented by the European Centre for Medium-Range Weather Forecasts (ECMWF).
Learn more about Hyphen by visiting Hyphen.earth