Frequently Asked Questions

Everything that anyone should know about Nori.

About Nori

How is Nori different from other voluntary carbon offset registries and how does it work?

Nori is unique in the carbon market space because we are focused 100% on carbon removal from the atmosphere. Paying people not to cut down existing trees is not a model that would qualify for Nori Carbon Removal Tonnes (NRTs) in our market. Reversing climate change requires both decreasing current emission rates, as well as removing the 1.5 trillion tonnes of excess CO2 that's already up in the atmosphere. Many companies and initiatives focus on reducing present and future emissions, but Nori is the only market that deals exclusively in removing past emissions. Nori allows buyers to pay for NRTs in a first-in-first-out (FIFO) order as they’re entered into the marketplace. This commoditizes the removal of CO2 and removes the costly matchmaking process that occurs in traditional carbon offset markets.

Nori is also different from existing carbon markets by taking a software approach to reduce costs for suppliers and buyers through streamlining data collection. By accounting for the ownership of the NRTs on the blockchain, Nori eliminates the double-counting problem that has plagued past attempts at creating healthy carbon offsets markets. Nori’s cost structure is substantially different from traditional carbon offset markets. We do not charge fees to develop new methodologies, and only ever charges suppliers a one time registration fee to list projects.

For more details check out this Medium post https://medium.com/nori-carbon-removal/how-nori-compares-to-traditional-carbon-markets-d6f3d4102db2

Carbon Removal

How do you know how much carbon a supplier has removed?

Nori partners with companies that make carbon quantification tools (CQTs) with rigorous scientific backing in order to model how much carbon was removed. In the case of farmlands, these models work by comparing farmers' new sustainable practices to their previous farming methods. Our partner Soil Metrics uses a USDA-approved model to run thousands of scenarios to determine within a reasonable level of confidence how much carbon a farmer has stored in their soils. This is one of the simplest and most accurate methods for counting carbon removals available today.

Blockchain

Why does Nori need its own token, the Nori?

Nori needs its own token so that one NORI can always be exchanged for one Nori Carbon Removal Tonnes (NRTs). NORI’s price in secondary markets will become the effective price of carbon removal. The token also enables price discovery from buyers with value-based pricing. One of our biggest goals is for NORI’s price to be treated similarly to the Brent Crude oil reference price but for carbon. This would for the first time establish a truly universal and market-driven price on carbon which is desperately needed.

For more details check out this Medium post https://medium.com/nori-carbon-removal/why-nori-needs-its-own-cryptocurrency-token-b2f1eef885c7

Buyers

Will we be able to buy NORI tokens as a gift for someone?

Absolutely! We would just advise any gift-givers to consult with their financial advisor first as there may be tax implications depending on where they live.

Suppliers

Are you working with farmers now?

We're working with farmers, farm developers, and farm technology developers right now to build this product in a way that provides real value to the farmers while ensuring the removed CO2 is verified accurately and credibly. Regenerative agriculture can provide an enormous boon to farmers (better crop yields, better water retention) but the transition can be difficult and complex depending on factors like who owns the land. We're engaging with different partners to make sure we're building a system that can be beneficial to both farmers and buyers of their Nori Carbon Removal Tonnes (NRTs). There are pilot programs beginning soon. If you’d like to participate, please get in touch with us.

Nori is adding another benefit to farmers who participate in the marketplace. For every tonne of carbon dioxide they remove and store in the soil, they get paid with a NORI token. Farmers increasingly are doing regenerative farming for the economic and environmental benefits. Farmers in our network can receive payments for the ecosystem services they are already providing, encouraging the growth of regenerative agricultural practices.

The Future of Nori

How can I get involved with Nori?

There are many ways!

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Each week, Nori offers insights and shares success stories on how removing excess carbon dioxide from the atmosphere is impacting our climate, and details on our marketplace progress and buildout for launch.

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You can email us at [email protected].

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