Climate Warehouse Simulation III, Final Report - September 2022

The Climate Warehouse is a public and open-source platform that aims to contribute to the integrity, transparency, and robust accounting of internationally transferred mitigation outcomes (ITMOs), in accordance with article 6.2 of the Paris Agreement. More specifically, the Climate Warehouse is a peer-to-peer metadata layer that uses blockchain technology to harmonize carbon registry data under a common taxonomy and demonstrate interoperability among carbon registries, which is currently complicated by carbon registries' usage of different data management systems and taxonomies. Simulation III was the final testing phase of the Climate Warehouse project. Launched in March 2022, Simulation III tested an operational prototype of the Climate Warehouse, which was delivered to the governing entity of the operational Climate Warehouse at the end of the simulation in August 2022. The Simulation III prototype had an updated data model and features that reflected the learnings from simulations I and II, and was open source, interoperable, and hosted on a public blockchain. The conclusion of Simulation III marked the beginning of the transition to the operational Climate Warehouse, expected to launch in October 2022. The Climate Warehouse is continuing to make progress on its aim to improve the environmental integrity, transparency, and robust accounting of ITMOs, under the leadership of the International Emissions Trading Association as the interim Secretariat, in close collaboration with the World Bank and the government of Singapore