It is the growth of the voluntary carbon market that inspires new crypto solutions.
Voluntary carbon market volume and value are expected to expand at a rate never before seen by 2021. However, as the need for high-quality carbon offsets grows, supply is becoming more constrained due to systemic restrictions.
As a result, the market for voluntary carbon offsets is becoming more inaccessible to people and small enterprises. Carbon credit shops are responding by developing innovative solutions that will make it easier and more comfortable for small businesses and people like you and me to carbon offsets participate in this high-growth sector.
Cryptocurrency and blockchain solutions are two examples of such innovations. There are several examples, such as CarbonClick, which has just launched the CarbonClick Coin (CCC).
CarbonClick Coins are a hybrid of digital technology and environmental stewardship. They make it easy for consumers to link their efforts to mitigate climate change and to participate in the growing voluntary carbon market today.
Continue reading to learn more about the burgeoning voluntary carbon market, its fast expansion, and the possibilities and difficulties that come with it as it expands. For those looking to begin or strengthen their involvement in carbon offset markets, there is no better product than CarbonClick Coin.
Voluntary Carbon Market (VCM): What Is It?
Traditionally, the voluntary carbon credit market (VCM) has allowed for the purchase, sale, and trading of carbon credits in order to offset carbon emissions. Many people agree that carbon emissions from transportation, industry, and domestic heating account for the great bulk of the planet’s warming-causing greenhouse gases (GHGs).
Countries, corporations, and people may all decrease their carbon footprints via the voluntary carbon offsets market, contributing to a more stable and healthy environment.
With this system, carbon emitters may offset their unavoidable emissions by acquiring carbon credits from programs that remove or reduce greenhouse gas emissions from the atmosphere, according to S&P Global.
Examples of transactions include the purchase of carbon offsets by individual or commercial carbon producers from reforestation and land conservation projects (such as rainforest protection); solar, wind, or other renewable energy producers; and waste-to-energy projects, such as the conversion of methane into electric power.
Scientists and environmentalists are encouraging this effort, but so are governments and business leaders, who are under pressure to fulfill global targets like those outlined in the 2015 Paris Climate Agreement.
According to an international agreement, all countries are expected to reduce greenhouse gas emissions by half by 2030 and achieve net zero by 2050 under which the United States has reaffirmed its commitment. The process of formulating policy and putting it into action, on the other hand, may be laborious.
Climate change prevention and mitigation efforts have grown more popular and depended upon via voluntary carbon trading, which is undertaken independently of any government or corporate restrictions.
Make Climate Change Your Business. It’s Not Late. To Expand Your Knowledge
Voluntary Carbon Market: How Does It Work?
The voluntary carbon market must center around a product or commodity if it is to be considered a market system. Carbon credits/carbon offsets are the commodity in this scenario.
Developed by the project developers, carbon offsets are directly linked to the decrease of greenhouse gases (GHGs), such as carbon dioxide, methane, nitrous oxide, sulfur hexafluoride, hydrofluorocarbons, and perfluorocarbons.
Some examples of development projects:
Environmentally friendly methods for reducing greenhouse gas emissions include:
GHG emissions may be reduced by reducing the amount of fuel or energy used in a certain activity.
Efforts to decrease carbon emissions by replacing fossil fuels with renewable energy sources such as solar or wind power.