With climate change presenting a huge threat to the planet, more and more countries are making commitments to significantly cut their greenhouse gas emissions. Carbon credits—a general term for tradable certificates representing the right to emit a set amount of carbon dioxide or other greenhouse gases—play a key role in helping economies reach net-zero emissions. Most developed nations are likely to be carbon credit purchasers, while emerging economies will likely be carbon credit exporters, presenting them with significant opportunities.
However, the current carbon credit market is fraught with challenges. Bringing a new carbon offset project to market can be a long and inefficient process, prone to manipulation. Faster verification, better quality data, and more robust measurement models are needed to boost confidence in the integrity of the market. Blockchains can play a significant role in addressing these challenges by bringing stability, scale, and modernization to the carbon credits market.
Join this Tech Talk to learn how Open Earth Foundation is using an advanced carbon pricing mechanism that accounts for social aspects, policy scenarios, various economic variables, and energy projections to calculate the social cost of carbon.