INGENIEUR
to project developers, all in compliance with the
United Nations Framework for Climate Change
Convention (UNFCCC).
Once carbon credits are generated, they will
be tied to a cryptocurrency called ‘EPCC Coin’,
which is stored on a public blockchain and traded
on various cryptocurrency exchange systems. This
assures purchasers that these tokens cannot be
duplicated or falsified. Such a business model
allows investors and the public investors to
invest in energy efficiency and renewable energy
projects, like hydro, wind and solar.
Based on BESC’s blockchain project, the
approximate energy saving per capital dollar spent
is about RM0.32 for every 1 kWh a year saved
through an EPC in Malaysia. If a Government-
backed financial institution funded the project,
as planned with USD49.3 million, it could save
approximately 1.5 billion kWh per year, or 1.1
million tons of carbon credit. According to the Gold
Standard organisation, energy efficiency projects
could fetch approximately RM9.6 per ton of carbon
6
10
VOL
2019
VOL 77
55 JANUARY–MARCH
JUNE 2013
‟
Carbon emission trading
No raindrop blames itself
for the flood.
credits. This could make the value of the carbon
credit worth approximately RM11 million a year.
Should you buy carbon credits?
When you’re pottering around the house, you’re
probably not thinking of melting ice caps or
changes in rainfall patterns, and this is a huge
challenge for climate scientists. Climate change is
such a massive, world-changing issue, it’s difficult
for any one of us to feel responsible.
The answer is yes, but before you buy some
EPCC coins, make sure that you’re not giving
yourself a license to pollute. You should always try
to reduce your own carbon footprint before paying
someone else to reduce theirs.