By The Secretariat of the UN Framework Convention on Climate Change (UNFCCC), the Kyoto Protocol and the Paris Agreement and W-Foundation jointly announced today that the two organizations concluded a Memorandum of Understanding (MoU) to formalize a collaborative partnership to promote global climate action.
The MoU, which was signed into effect by James Grabert, Director of Sustainable Development Mechanisms (SDM) at the UNFCCC and Youree Lee, CEO of W-Foundation, provides a comprehensive and flexible framework for the two organizations to collaborate on a portfolio of climate action projects. The Secretariat and the W-Foundation emphasized that the partnership is focused on driving ambitious and immediate climate action, leveraging UNFCCC-recognized carbon credits and market mechanisms to offset and compensate Greenhouse Gas (GHG) emissions.
W-Foundation, a global relief and conservation organization, drives mass adoption of HOOXI App, a gamified mobile social network application launched in December 2018. The app encourages the public to complete “climate missions” and share the results of those missions. Completion and sharing of the missions on the app generate “mission points”, which are used to competitively rank the users on a monthly basis. As an incentive to encourage enthusiastic and voluntary participation, the top 20% are rewarded each month with WGP (W Green Pay), a blockchain currency.
The first of many collaboration projects launched under the MoU framework is the promotion of compensation of greenhouse gas emissions through the use of the HOOXI App in the Republic of Korea. The project will promote voluntary climate action including compensation of emissions through UNFCCC-recognized carbon credits, and the Climate Neutral Now initiative. W-Foundation will also work with the Secretariat to explore additional projects under the MoU framework, including formulation of a Program of Activities (PoA)-based methodology for a subset of HOOXI App’s growing mission portfolio and application of distributed ledger technology in the offset markets, among others.
Niclas Svenningsen, Manager, Global Climate Action at UNFCCC commented that “we are excited to collaborate with W-Foundation to promote climate action by engaging individuals and organizations to protect the climate and to drive change towards the Sustainable Development Goals including climate neutrality.”
Youree Lee, CEO of W-Foundation, added that:
“We look forward to working with the Secretariat to bring imagination, innovation and urgency to making a difference for climate change.”
About W-Foundation
W-Foundation is a non-profit organization founded in 2012. W-Foundation is committed to leading and enabling a broad-based public support for nature conservation, climate change mitigation and immediate relief for refugees impacted by climate change and natural disasters. W-Foundation partners with like-minded individuals, corporations and organizations around the world to build and sustain a broad-based movement to making a difference for our shared future.
About the UNFCCC
With 197 Parties, the United Nations Framework Convention on Climate Change (UNFCCC) has near universal membership and is the parent treaty of the 2015 Paris Climate Change Agreement. The main aim of the Paris Agreement is to keep a global average temperature rise this century well below 2 degrees Celsius and to drive efforts to limit the temperature increase even further to 1.5 degrees Celsius above pre-industrial levels. The UNFCCC is also the parent treaty of the 1997 Kyoto Protocol. The ultimate objective of all agreements under the UNFCCC is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system, in a time frame which allows ecosystems to adapt naturally and enables sustainable development.
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