Hexagon: Carbon Index Fund Recommendation Engine

Hexagon is a groundbreaking Carbon Index Fund Recommendation solution developed during HackRice 13 (2023). Hexagon mitigates risk and saves money for companies looking to fulfill their carbon credit quotas. Hexagon also enhances productivity for individuals looking to buy carbon credits by enabling them to invest in professional portfolios.

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Team
Abstract
How It Works
Technologies Used
Advantages
Acknowledgments

Team

Meet the undergraduate students who brought Hexagon to life:

Michael Khalfin
- School: Rice University
- Email: mlk15@rice.edu
- LinkedIn: Profile
Xinze Feng
- School: Rice University
- Email: xf15@rice.edu
- LinkedIn: Profile
Sai Raja
- School: Rice University
- Email: sr116@rice.edu
- LinkedIn: Profile
Caleb Stocking
- School: Rice University
- Email: cs152@rice.edu
- LinkedIn: Profile

Abstract

In the face of escalating environmental challenges, the importance of carbon offsetting has never been more pronounced. However, both corporations and individuals grapple with navigating the intricate carbon credit market, often deterred by concerns over quality, cost, and potential risks. The Carbon Portfolio Builder emerges as a revolutionary platform, designed to bridge this gap. For corporations, it offers a bespoke solution, curating diversified carbon credit portfolios based on specific parameters like carbon deficit and budget. For individuals, the platform introduces simplified Carbon Credit Index Funds, set to be asset-backed, offering a straightforward avenue for meaningful environmental contributions. Harnessing data from leading carbon offset registries, combined with advanced AI, the platform ensures optimal, transparent, and impactful carbon offset investments. This initiative not only democratizes access to the carbon credit market but also propels global strides towards a sustainable, eco-conscious future.

How It Works

Navigating the carbon offset landscape is made seamless with our Carbon Portfolio Builder. Start by inputting your specific requirements—whether you're a corporation defining your carbon deficit and budget or an individual exploring our Carbon Credit Index Fund. Our platform then delves into a comprehensive database from top carbon offset registries. Leveraging cutting-edge optimization formulas, it crafts a tailored portfolio or recommends an index fund.

Each selection is underpinned by rigorous data analysis, ensuring optimal diversification and risk management. Visual tools and detailed reports accompany every portfolio, providing clarity on the chosen projects, their expected impact, and the rationale behind each choice. With a user-friendly interface and transparent processes, you're empowered to make informed, impactful carbon offset investments with confidence.

Technologies Used

Hexagon was developed using a powerful combination of technologies, including:

REACT/JavaScript (JS): REACT/JS were crucial tools for creating the front-end, user-facing component of our application.
HTML & CSS: HTML & CSS were used to create the user interface, providing an intuitive / visually appealing experience.
Python: Python was used for all backend components, including (a) building the model, (b) creating all the visuals.
MATLAB: Matplotlib (integrated Python module) was our go-to for data visualization.
GUROBI: GUROBI was our optimization engine. We built our model and used our free student license to implement the Simplex solver.
Jupyter Notebook: Jupyter Notebook was the perfect choice for our final demo, as it provided interactive widgets.

Advantages

Tailored Solutions: Customized portfolios based on specific user inputs, ensuring optimal alignment with individual or corporate goals.
Diversification: Spreads investment across multiple projects, reducing risk and maximizing impact.
Data-Driven Decisions: Advanced data analysis provides evidence-based recommendations.
Comprehensive Database: Access to top carbon offset registries ensures a wide range of high-quality projects to choose from.
Transparency: Detailed reports explain the rationale behind portfolio choices, ensuring users understand their investments.
Ease of Use: Intuitive interface and streamlined processes make navigation and decision-making seamless.
Future-Proof: Carbon Credit Index Funds designed for individuals offer a simplified yet impactful investment avenue, set to be asset-backed in the future.