Progress Status

In progress

Data Reliability

Self-declared

Funding Type

Private

Website Enterprise / Infrastructure

Sustainable Development

Attractiveness : ​Incentives users to reduce energy consumption, use sustainable modes of transportation, generate renewable energy and recycle waste.

Well Being : ​Improves people's well being by providing monetary incentives (in a form of discounts and bonuses) for environmentally friendly actions.

Social Cohesion : ​The app promotes cooperation between the owners of the apartments in multi-apartment buildings to reduce energy consumption. KT-Energy LLC also runs the challenge on climate-friendly actions among schools, their students and teachers using Climate Drops mobile application. The schools will compete in Climate Drops generation. The winners will be the schools, which will generate the largest number of Climate Drops per school student, by performing the climate-friendly actions.

Preservation / Environmental Improvement : ​Provide incentives to reduce personal carbon emissions.

Responsible use of resources : ​The app promotes responsible use of resources by rewarding waste recycling and composting based on estimated carbon emission reductions from such activities.

Testimony / Feedback

Natalia Ozhegova, head of homeowners association of the multi-apartment building at 6 Third Berezivskyi lane, Zhytomyr city Ukraine. "Climate Drops is an innovative solution, which does provide additional incentives for the homeowners to implement energy efficiency measures and educate people about the climate impact of the implemented energy-saving projects.In our building, we have replaced lightening equipment and installed modern LED lights. This resulted in significant electricity savings. I have used the Climate Drops app to record the value of electricity saved since project implementation and received Climate Drops to my digital wallet. I can use Climate Drops to get a discount for construction materials or other products needed for the building at the construction shop located in Zhytomyr. Part of the Climate Drops was also distributed among the homeowners, so they can get discounts in the cafes and restaurants, which partner with Climate Drops application.Climate Drops App also help cities to reduce greenhouse gases emissions in line with their commitments under Covenants of Mayors for Energy and Climate."

Governance

KT-Energy LLC

Holder Type : Private Company

KT-Energy LLC

Climate Drops app is developed and managed by KT-Energy LLC. KT-Energy LLC provides consultancy and project development services in the areas of power, energy efficiency, and carbon emission reduction projects since 2010. In parallel we are working on the application of modern IT technologies, including block-chain and deep learning, in the above-mentioned and adjacent areas.

Business Model : The business model of Climate Drops app will be based on two major revenue streams: 

• Climate Drops sale for offsetting carbon emissions of individuals, businesses and communities; 
• Commission fee from Partners. 
The operation of Climate Drops app will be commercially viable after reaching the targeted customer base of 200 000 Users and 2 000 Partners. The combination of two revenues streams will allow achieving the commercialization of Climate Drops App within the next 3 years. Climate Drops model is highly scalable both in terms of geographical coverage and various markets penetration. High scalability potential allows to reach millions of people and thousands of businesses worldwide. Internet will be used as a key distribution and communication channel. The app has easy-to-use reward collection and transaction mechanisms based on blockchain technology, which ensures user-friendly experience. The Climate Drops App is currently available in English and Ukrainian, but could be easily translated into any other language. The app could reward any climate-friendly activity, the impact of which could be estimated and recorded. The Climate Drops App could also be integrated with existing corporate loyalty programs.

Sustainable Solutions

Climate Drops App

Description :

Climate Drops app tracks and rewards environmentally friendly actions of its users to protect the environment and climate of our planet. Green actions of the app's users are tracked and converted into electronic points with their further exchange for discounts provided by app's partners.

Each point, which is called a "Climate Drop", corresponds to 1 kg of CO2, not emitted into the atmosphere in the result of the eco-friendly activities of the app's users. The app's users are called "Sources" of greenhouse gases emission reductions and could generate 500 and more Climate Drops during a year.

App's partners are environmentally friendly businesses in retail, IT, HoReCa, etc., which receive Climate Drops from Sources in exchange for discounts, bonuses, and other loyalty tools. Such businesses are called Lakes in our app.

In the future, the Lakes may obtain the possibility to sell the part of the collected Drops exceeding their own carbon footprint to carbon funds, other companies or individuals investing in climate change mitigation on the national and global level. Such funds are called Seas in our app.

As for now, Climate Drops are issued for such activities as bike riding, waste recycling and composting, tree planting, energy saving due to the execution of energy efficiency measures in buildings, and green electricity generation.

Calculation of greenhouse gases emission reductions is performed based on the internationally recognized methodological approaches and years of our company's experience in carbon accounting.

Climate Drops app uses distributed ledger technology (block-chain).

CO2 Impact : 250,00

• Mobility :
• Energy/climate :
• Citizen participation

Company (es) Website :

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KT-Energy LLC

Company (es) Website :