During Fund 7 of Project Catalyst, the Cardano community gave their voting power in support of continued research into the connections between Fund 7 funded proposals and the UN Sustainable Development Goals (SDGs).
SDG Proposal Framework Tool
As members of Cardano AIM, Sustainable ADA working in collaboration with Lucio, Victor, Phil and Yoram released the first edition of the SDG Proposer Tool available for public use during the proposal submission phase of Fund 7.
Proposers were able to learn about the UN SDGs framework and connect their ideas and projects to the relevant goals, subgoals, metrics, and get inspiration and ideas for designing their own KPIs (Key Performance Indicators) to measure and track their project’s impact.
To learn more and try out the SDG Proposer Tool for yourself, visit the site at: https://cardanocataly.st/proposer-tool-sdg/#/
During Fund 8 the SDG Proposer Tool became integrated into the Project Catalyst Proposal Submission process, as an optional field entry whereby proposers could detail how their proposals connect to SDGs.
This was a great collaboration between Cardano AIM, Sustainable ADA, and the Catalyst team for an initiative to build a bridge between the Cardano Catalyst ecosystem and global impact frameworks such as the UN SDGs.
Here is a video we made at Sustainable ADA on why and how to use the SDG Proposer Tool:
Connecting Fund 7 funded proposals to the UN SDGs
Collaboration with international bodies working in the developing world will accelerate the mass adoption of Cardano’s blockchain solutions.
In order to accelerate mass adoption and work seamlessly with diverse stakeholders from multilateral organizations like the UN to national Governments, it is important to be able to understand one another, and therefore a common language is helpful.
The funded proposal above laid out the plan for our team to continue researching the use and application of one such common language through the prism of the UN Sustainable Development Goals.
For more on the results of our previous research study focused on Fund 6 funded proposals, read more here.
Below are some of the significant findings from our latest research into how Fund 7 funded proposals are connected to SDGs:
- 290 Proposals received funding
- 91.7% of proposals (266) are connected to SDGs
- 70.3% (204) directly connected to SDGs
- 21.4% (62) indirectly connected to SDGs
- 100% (24) of Fund 8 Challenge Setting proposals are related to SDGs
- 87.5% (21) directly connected to SDGs
- 12.5% (3) indirectly connected to SDGs
In $ USD terms, the total allocated via community vote to funded proposals amounts to:
- Total Fund 6 SDG connected (Direct and Indirect) = $3,072,702
- Total Fund 7 SDG connected (Direct and Indirect) = $4,990,375
- Total Fund 8 Challenge Setting SDG connected (Direct and Indirect) = $12,800,000
Via Project Catalyst, the world’s largest decentralized innovation fund, Cardano ₳ ADA holders vote on the proposals that they support to receive allocated ADA from the Cardano treasury.
With Cardano’s sophisticated voting system, these figures demonstrate a pioneering moment and a testament to how Cardano’s blockchain technology and innovative experiment in on-chain governance and community voting are directing finance to support change makers worldwide.
Why is all of this important?
We are living in a climate emergency.
“If the world is to meet the climate change, biodiversity, and land degradation targets, it needs to close a USD 4.1 trillion financing gap in nature by 2050. The current investments in Nature-based solutions amount to USD 133 billion – most of which comes from public sources.” – UN, State of Finance for Nature, 2021
A recent report published by the University of Manchester has declared that the world’s governments must urgently transition away from the use of oil and gas.
They have been instrumental activists and engaged in research and communication about the advantages of Cardano’s ‘green’ Proof of Stake blockchain over more energy-intensive protocols such as Bitcoin’s Proof of Work.
The recent collaboration between the Climate Neutral Cardano Group, Cardano Foundation, and Veritree with the Cardano Forest Initial Tree Offering was a landmark move in helping to ensure that Cardano’s blockchain energy usage is offset by the resulting 1 million trees that will be planted.
If we are to build a better world together, one that is equitable and enables everyone to live a healthy life, political willpower is urgently needed.
In the meantime, as alarm bells ring and the climate clock ticks, the decentralized global Cardano community is answering the call.
Project Catalyst’s Fund 9 is around the corner, due to open in May 2022. With Fund 8 final voting announcements to be made in a few weeks, unlocking $12,800,000 worth of ADA to finance proposers and their projects in community created challenge categories connected to SDGs, the opportunities to make a positive difference are here. The time for action is now.