The consequences of global warming are becoming increasingly visible in the 21st century, and are threatening both our planet and human wellbeing. A new economic model that respects the planetary boundaries as well as the social boundaries, is the doughnut model, by Kate Raworth. The name refers to a doughnut-shaped ‘safe zone’. According to the model, this safe zone is located between an outer ring, the ecological ceiling (consisting of nine planetary boundaries) and an inner ring, the social foundation (consisting of twelve social standards). The doughnut model envisions a world in which both nature and humanity can thrive. Climate Cleanup believes that nature-based solutions (NBSs) are the key to reach that safe zone in the doughnut model. However, NBSs are currently not reaching their full potential, as the current market is not fit to fairly monetize NBSs. The established market is mainly focused on carbon emissions, disregarding the total value NBSs may bring (e.g., contributions to biodiversity, ocean acidification or well-being). Therefore, Climate Cleanup aims to create a platform that takes all aspects (planetary and social) of the doughnut into account. Furthermore, Climate Cleanup wants this platform to be open, simple and affordable for entrepreneurs with an NBS. The platform is currently called ONCRA: Open Natural Carbon Removal Accounting.
Our team researched the conditions for a successful launch of ONCRA, focused on how ONCRA may attract potential buyers and how ONCRA compares to similar accounting platforms. Based on our research, we created (i) an overview of bottlenecks that might prevent buyers from using ONCRA, (ii) an overview of incentives to overcome these bottlenecks and (iii) a tool that incorporates these incentives. We also mapped out opportunities for cooperation with similar platforms.
