Frequently Asked Questions

The ClimaLedger Network is the leading environmental industry private blockchain network that runs solutions for data alignment, validation and transaction settlement between trading partners. The network actually utilizes transaction-related data like contracts, customers, and products that are shared through the network to enforce configurable business rules on transactions for each participant, enabling industry level automation and trust. The ClimaLedger Network is powered by blockchain, which means it is decentralized so trading partners are doing business directly and rules are being enforced automatically, without any party sitting in the middle.

ClimaLedger is a private blockchain is a semi-decentralized ledger that is only accessible to a select group of individuals or organizations. It has a single operator or entity that controls who can access the network, view information, and create data on the blockchain. To gain access to a private blockchain network, orgainzations must receive an invitation and verify their identity or provide the necessary information. Unlike public blockchains where the identity of people are largely anonymous, the identity of people involved on a private blockchain is known. The network operator(s) or a set protocol approved by the network use smart contracts or other automated methods to authenticate and verify the participant's details. When someone wants to make a transaction on a private blockchain, they submit it to the network for verification. Once the transaction is confirmed by the nodes, it is added to the blockchain as a new block.

Blockchain is a mechanism to enforce business rules automatically between participants. Every participant in a blockchain network has a copy of the blockchain data and the rules being enforced on that data. No single party can change the data or the rules. This creates trust between trading partners that was never possible before now. An example business rule enforced by the network might be: Producer A requires that every chargeback submitted by Wholesaler B has an active customer HIN that matches an eligible customer HIN on the contract

The network is open to Approved Verifiers for Green Company/Green Issuers and Sustainability Linked Debt certifications under the Climate Bonds Standard. This means that the network becomes the trusted intermediary between these companies and the regulatory organizations that their customers submit environmental report to.

ClimaTrust is the technology company, based in Tucson, AZ, USA, that developed the ClimaLedger Network in collaboration with leading companies in the environmental industry. ClimaTrust provides support to active participants, improvements to the network itself and develops the solutions run by participants on top of the network.