The Digital Sustainability Data Project that the Coalition is hosting is now launching a new stream, the Global Digital Single Market Data Alliance (Global DSMDA).
The Global DSMDA brings together global and regional experts, fosters dialogue, and engages and supports governments and key stakeholders across the globe to build the open-source digital infrastructure, connects companies with deploy open-source reporting tools and capacity building solutions and supports the development of the carbon and natural capital trading markets systems needed to build robust, resilient and sustainable economies. In doing its work, the Global DSMDA is committed to the highest standard of collaboration, consensus building, and transparency. It is also committed to supporting the creation of digital public good infrastructure and ensuring that the products, solutions, and frameworks are open source.
Global Alliance Goals
- Open-Source Digital Infrastructure: Facilitate robust, funded, open-source data ecosystems for the automated exchange of financial, sustainability, carbon, and climate-related data.
- Reporting Solution Innovation: Strengthen business competitiveness and unlock green finance by connecting companies with open-source carbon and sustainability data reporting tools including leveraging Distributed Ledger Technology.
- Carbon and Natural Capital Markets: Support governments to design and build the digital and data infrastructure needed to create robust and trusted carbon and natural capital markets.
- Digital Infrastructure Playbooks and Open-Source Solutions: Establish scalable, replicable frameworks that can serve as blueprints for other countries or regions.
The Global DSMDA is launching the Western Balkans Regional Dialogue with the support of the Prime Minister of the Republic of North Macedonia and other high-level leaders and key stakeholders in the region.
The region’s EU accession goals and required integration with the EU Green Agenda, the recent 2024 Brussels Declaration and new EU CBAM and CSRD mandates are drivers for action by the governments and key industries in the region. The goal of the Alliance is to bring together experts from inside and outside the region to build the open-source digital infrastructure, connect companies with open-source reporting solutions and support the development of the carbon trading systems needed to ensure global competitiveness, advance economic integration and unlock green finance in the Western Balkans.
Catherine Atkin and Liv Watson, the founders of the Global Alliance, are joined by Andon Rumenov and Zvonko Obradovic as Co-chairs of the regional dialogue. The effort is supported by an Advisory Council made up of international and regional leaders chaired by Thomas Krantz that offers strategic guidance and builds support for the effort and an Observer Group of individual and institutional experts who provide specialized insights.
Carbon Market Foundations
Support governments to build the foundation for robust and trusted carbon markets that generate green finance.
- Digital Data Infrastructure. Effective Emissions Trading Systems (ETS) and carbon markets require the development of reporting regulations, open data standards and digital and technological building blocks to ensure high-quality data, interoperability and integration across systems. Areas of collaboration with governments in the region include data and reporting standards, the development of digital Measurement, Reporting, and Verification (dMRV) and the use of next-gen technologies like AI and blockchain.
- Emissions Trading System Design. The region has the opportunity to develop a next-gen ETS in response to CBAM that will allow the region to invest in decarbonization to ensure global competitiveness. The Dialogue brings global carbon market experts to support governments in the region as they design the policy and legal frameworks required for robust and effective ETS and carbon markets.
Business Reporting Capacity
Help companies of all sizes to access the reporting tools and capacity building they need to comply, compete and secure green finance.
- Emissions Reporting for Large Companies. Companies in sectors covered by the EU CBAM and in the supply chains of companies reporting under CSRD need to precisely measure and report the GHG emissions of their products in compliance with EU standards. There are opportunities to pilot new solutions that include the use of open-source Distributed Ledger Technologies and XBRL statutory reporting taxonomies that can offer companies access to standardized, transparent, and interoperable solutions that streamline statutory reporting processes.
- Automated Carbon Data for Small and Medium Sized Enterprises. The region’s small and medium sized enterprises (SMEs) need access to low-cost emissions calculation solutions that simplify the generation of accurate and verifiable emissions data from the emissions source. Leveraging an SME solution developed in the UK, the region has the opportunity to automate access to SME electricity data, allowing businesses to visualize emissions associated with their energy use and be connected directly to green finance from participating banks and financial institutions.
For more information on how to get involved, please contact the Global DSMDA at info@globaldsmda.org
