Nori

We need carbon removal to balance out atmospheric CO2 levels and ultimately help reverse climate change.

The clock is ticking.
Currently, atmospheric CO2 levels are at ~405–410 parts per million (ppm). Levels above 450 ppm risk runaway feedback loops—including more warming—that will be difficult to stop.

We can do this.
CO2 can be removed from the atmosphere by ecological and/or industrial means. It can be sequestered in trees, kelp, soil, minerals, and even manufactured products like plastics and timber.

A new price on carbon.
Our new currency is backed by carbon removal. Every token is worth 1 ton of CO2 removal and will finance a new economy of restoration.

Frequently Asked Questions
What are the different types of carbon removal?
There are many ways to remove carbon dioxide from the atmosphere. They fall into three main categories: ecological, industrial, and hybrid.

Ecological carbon removal can be achieved through better management and restoration of ecosystems on land and in the ocean.

Reforestation is the establishment of forests or stands of trees where there previously was no recent forest cover. Carbon dioxide is captured by photosynthesis and is stored in the biomass of the forest.
Blue Carbon refers to carbon captured by the world’s oceans and coastal ecosystems. The carbon is captured by marine life, and ends up being stored as biomass or in sediments. Algae, kelp, mangroves, salt marshes, and seagrasses can all sequester carbon. Many animals help drive these processes, including sea otters, tiger sharks, turtles, and sperm whales.
Soil Carbon Storage refers to techniques that can increase the organic and inorganic matter stored soils on farms and other managed lands.
Industrial carbon removal refers to engineered solutions that do not depend on ecological processes.

Direct air capture with mineral geologic sequestration uses machines to extract and concentrate carbon dioxide to store in mineral carbonates with no economic value.
Direct air capture into products uses machines to extract and concentrate carbon dioxide into products ranging from concrete, polymers, graphene, and other stable materials containing carbon molecules formerly in the air.
Hybrid carbon removal solutions combine ecological and industrial processes.

Bioenergy with Carbon Capture and Storage (BECCS) relies on biomass to remove carbon dioxide, generate energy at a power plant, and produce gaseous emissions which can be captured and stored underground.
Biochar also relies on biomass to remove carbon dioxide and generate energy, but has a process that starves the fuel of oxygen, thereby leaving behind a residue that when spread over soil creates a negative emission.
Biosequestration in materials is any approach that leverages biology to create a carbon sink in products—ranging from carpets to clothes to building materials.
Enhanced weathering covers a number of geologic processes that occur on land or in ocean where certain minerals react with carbon dioxide and turn it into a solid, sequestered form.

What is Carbon Removal?
Carbon removal refers to any ecological or industrial approach that can take carbon dioxide out of atmospheric or oceanic circulation beyond what would have occurred without humans. Right now, carbon removal approaches have different costs, degrees of maturity, measurement needs, permanence, energy consumption/production, and additional uncertainties. But they are all the same in their growing potential as ways to capture and store carbon dioxide in order to help reverse climate change.

Why do we need Carbon Removal to stop climate change?
Since the industrial revolution, mankind has burned fossil fuels to produce energy which release greenhouse gases. In spite of long understanding the clear linkage between excess greenhouse gases (predominantly carbon dioxide) in the atmosphere and oceans and global climate change, humans have been unable to stop emitting. While reducing and replacing carbon emissions are key components to slowing down the flow of greenhouse gases to the atmosphere, because carbon dioxide stays in the atmosphere for hundreds of years—warming the planet—the only way to stop the most severe effects of climate change is by balancing the total stock of carbon dioxide in the atmosphere. This can only be achieved through carbon removal.

Why blockchain for carbon removal?
The blockchain allows for a number of new opportunities to establish a market for carbon removal. Blockchain technologies allow us to issue a token, NORI, which sets one uniform price on removing carbon dioxide. Because a carbon removal credit can only be used once, and is immediately retired, our blockchain system avoids double counting, which occurs in the design of all other traditional carbon offset schemes. Furthermore, using a blockchain solution allows for complete transparency to the new type of carbon removal asset. Blockchain allows for substantially lower verification costs through automation and removing the many middle men involved in traditional carbon removal transactions. Lastly, through using a blockchain token as a medium of exchange, this solution removes the requirement for project sellers and buyers to find a counterparty, allowing all parties to participate in a fungible market.

How does the token relate to carbon removal?
1 Nori token allows for the purchase of a carbon removal credit (CRC). Think of it like a gift card that allows you to pay for carbon removal. One Nori token pays for one CRC. The Nori token can be purchased at any time and when it is spent in the Nori platform will immediately transfer ownership of a carbon removal credit to the buyer.

Who can use the Nori platform?
While anyone can purchase a Carbon Removal credit with a Nori token, we’ve identified a few important categories to get started:

Individuals who are looking for direct ways combat climate change
Cryptocurrency enthusiasts
Climate change activists
Businesses with a sustainability vision and carbon removal mandate
How do you generate carbon removal credits?
Whenever a seller performs a carbon removal action, we first verify that the carbon dioxide has actually been removed from the atmosphere and stored. The seller either uploads data manually, or the removal data is automatically reported into the Nori platform. This generates the creation of a new Carbon Removal Credit smart contract that is now available for purchase by a buyer.

How is Nori different from other voluntary carbon offset registries?
We only accept carbon removal projects. Reductions in emissions are not good enough.
Nori abstracts the exchange of CRC for Nori tokens by selling CRCs to buyers in a First In First Out (FIFO) order as they’re entered into the marketplace. We are commoditizing CO2.
Nori reduces the overhead costs for CRC providers by as much as 50% through the use of automated sensors and Internet of Things devices to measure how much CO2 was removed.
By accounting for the ownership of the CRCs on the blockchain, Nori eliminates the double-counting problem that has plagued past attempts at creating healthy carbon offsets markets.
Nori is establishing the framework for carbon accounting methodologies that are transparent, iterative, and with an open-source software perspective.