MICEcarbon launches in September 2023

A new platform to help decarbonise the MICE industry, MICEcarbon, will be launched this September. Powered by URECA, the platform uses blockchain technology to fractionalise large blocks of carbon credits into affordable units. These credits come from high-standard projects meeting criteria for additionality, transparency, and verifiability, said its founding partner, Daniel Chua, who is the founder and CEO of AONIA.

This platform showcases the potential of cross-industry collaboration in tackling the climate crisis, and is designed to serve the global MICE industry. Chua’s team is working to ensure full functionality by mid-September 2023.

The idea to create a specific solution for the industry that would address its pain points started with a confluence of circumstances, shared Chua. M&C Asia traces his journey:

Focussed approach

As a MICE planner since 2002, Chua said that sustainability has consistently remained a pivotal consideration, and the increasing urgency of climate change prompted a realisation that the MICE industry must make substantial impact.

“Business exposure to the carbon markets enlightened me about their potential to help decarbonise the MICE industry significantly. MICE planners are in a squeeze, facing growing pressures both internally and externally to run events more sustainability, whilst ensuring event aims are met. However, this is an aggregator industry that requires inputs from various other sectors in order to bring successful events to life; no matter how (they are) sustainably-planned, events will incur a carbon footprint.

“In line with the nature of this industry, it was logical to provide a solution that could enable decarbonisation at scale with strong social co-benefits, whilst allowing MICE Planners to focus on what they do best - bringing people together through successful events. We designed MICEcarbon to be an inclusive platform that enables MICE planners to execute events sustainably, despite their inherently carbon-intensive nature, by leveraging on quality carbon offset projects.”

Chua’s involvement with the inaugural Singapore Tourism Board’s Sustainability Committee further fuelled his passion to address this issue. MICEcarbon was conceived in July 2022, and realised through a meeting of minds with Orchlon Enkhtsetseg, CEO of URECA, who provided the essential technological infrastructure for MICEcarbon.

Hurdles the MICE industry faces

Chua added that access and affordability pose significant barriers for individuals desiring to support decarbonisation. Current carbon market platforms are complex and primarily B2B focused, offering transactions only at volumes and costs out of reach for many. Moreover, consumer-centric platforms often lack transparency regarding carbon credit sources.

What MICE planners can expect

“Our immediate goals involve fine-tuning system integration within the MICE ecosystem to guarantee an ergonomic, robust, and secure platform. We look forward to working with MICE planners in the days ahead to support their decarbonisation efforts in a way that can benefit the environment as well as their stakeholders.”

The platform supports Net Zero aims that clients and sponsors may require due to increasing regulation. Its offset certificates may be used to deepen engagements and encourage certain delegate behaviours. “For instance, certain sponsors may wish to meet delegates who have invested into a specific carbon offset project, thus leading to more targeted discussions. An organiser can offer event attendees a chance to offset their individual emissions, whilst we can also help organisers measure and mitigate their direct emissions.

“MICEcarbon's user-friendly and integrable system allows for transparent carbon offsets, which can range from 10 kg to multiple metric tons of carbon credits. We aim to partner with the entire MICE industry to tackle climate change and support various UN SDGs through co-benefits, resulting from the carbon offset projects on MICEcarbon,” said Chua.

Upholding additionality, permanence, sound reporting, and verifiable credits

MICEcarbon collaborates directly with project developers accredited by globally recognised carbon offset standard programs, such as CDM, Gold Standard, Verra, and MITECO in Spain. “This alliance ensures the credibility of the carbon credits we offer and guarantees our users direct access to these quality offsets. Our partner URECA supports our mission by developing cutting-edge Measurement, Reporting, and Verification (MRV) solutions.

Through the innovative application of various technologies, URECA provides robust mechanisms for the verification of carbon offsets. This assures users of the legitimacy of the carbon credits they purchase,” said Chua, who added that URECA operates as an invitation-only platform for project developers, a strategic decision made to uphold a rigorous vetting process. Carbon credits offered through MICEcarbon are not only of high quality but also contribute positively and tangibly to offsetting carbon emissions.

“By understanding the methodologies, execution approaches, and community impacts of these developers intimately, we aim to instill that same confidence and trust in the users of the MICEcarbon platform.

“We are steadfast in our mission to increase transparency and traceability, reassuring our users that the carbon finance flows to where it is needed most, and that the projects we endorse genuinely contribute to the global fight against climate change.

“We encourage MICE planners to consider us as partners and assure them of a seamless onboarding process. Our standard onboarding procedures are cost-free, except for any additional services required.”

As an exhibitor at the recent Singapore MICE Forum 2023, Chua’s engagement with various MICE industry stakeholders resulted in “overwhelmingly positive” response. “Delegates recognised the timely need for a solution like MICEcarbon and appreciated its ability to integrate into the events planning process. Many expressed interest in supporting carbon offset projects closer to their event locations, and we are actively seeking such projects,” he said.