Going by figure 5, I think the way to format climate contingent finance like an impact certificate would be:
‘A’ announces that they will award $X in prizes to different project based on how much climate change damage a project averts
‘B’ funds different projects (based on how much damage they think each project will avert in the future) in exchange for a percentage of the prize money
I haven’t given this a thoroughly read yet, but I think this has some similarities to retroactive public goods funding:
https://harsimony.wordpress.com/2021/07/02/retroactive-public-goods-funding/
https://medium.com/ethereum-optimism/retroactive-public-goods-funding-33c9b7d00f0c
The impact markets team is working on implementing these:
https://impactmarkets.io/
Going by figure 5, I think the way to format climate contingent finance like an impact certificate would be:
‘A’ announces that they will award $X in prizes to different project based on how much climate change damage a project averts
‘B’ funds different projects (based on how much damage they think each project will avert in the future) in exchange for a percentage of the prize money