📃Proof of Carbon Compensation (PoCC) certificate

The CO2 token in itself isn’t a claim on carbon neutrality. To generate a compensation claim for CO2 emissions, the holder of CO2 tokens can burn its tokens on the platform. In return for the burning of these tokens, an amount of CO2 compensation is registered on the platform. The burning of CO2 tokens is called Proof of Carbon Compensation (PoCC). This compensation will show up as an NFT (ERC721) token in the wallet of the compensator. The PoCC NFT contains data about the reason for compensating, the amount, the date, and the option to add the name of the person or business compensating CO2. This data is all stored on-chain to facilitate easy and transparent carbon accounting. When CO2 tokens are burnt for issuing a PoCC certificate, CO2 tokens are forever taken out of supply, thereby solving the double counting and double claiming problem.