The international community is constantly implementing new and improved methods to reduce carbon dioxide (CO2) emissions.
It is a known fact that excessive use of fossil fuels and deforestation have caused a massive increase in CO2 emissions in recent years, causing significant environmental issues. Today, many people across the globe consider global climate change as one of their most important concerns — if not the most important concern. Thus, governments and international organizations are trying to find solutions to reduce global carbon emissions.
Carbon Markets
A system that could be dubbed the carbon economy, carbon markets are a concept that was founded in 2005, conceptualized by the Paris Agreement in 2015 and revolutionized by the United Nations Climate Conference of 2021 (COP26). Today, the EU and China are the biggest carbon markets there are.
How do Carbon Markets work?
Both in the EU and China, specific sectors and companies are given limited allowances for CO2 emissions. If they absolutely have to emit more, they have to buy carbon compensations to continue emitting CO2. This incentivizes companies and nations to invest in sustainable technologies in order to increase their profits. The Carbon Market and the price of CO2 compensations witnessed an annual increase of 108% — and it is expected that this is just the beginning!
And this is only the mandatory carbon market. There are various other ways to engage with the carbon economy such as blockchain innovations. There is a huge demand by companies and individuals to compensate for their carbon footprint. Both companies and countries are starting their transition to green energy.
Coorest offers revolutionary solutions to environmental problems by harnessing the power of blockchain technology. It also offers additional rewards to individuals and organizations that directly contribute to the preservation of the environment.
Coupled with the fact that the carbon economy is booming and is expected to continue providing substantial outcomes, Coorest believes that there is much it can offer to the carbon emission problem — and has the technology and innovative ideas to back this claim!
Read the whole white paper to understand Coorest’s vision.
Buy an NFTree, collect the CCO2 tokens and burn the tokens to register the amount of CO2 you removed. Buy here.
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