BCAS’ Post

Are you interested in #crypto and #sustainability? Check out what #MiCA is trying to accomplish in the 2nd RTS package related to #sustainablecrypto here 👇: https://lnkd.in/dQGmm8cy

🌍 Exploring the Breakdown in the Carbon Credit Accreditation System 🌍 As we navigate the complex landscape of carbon credits, it becomes imperative to critically examine the efficacy of current methodologies. The evolving dialogue around leveraging blockchain and new technologies for enhancing the transparency and integrity of voluntary carbon credit systems is crucial for ensuring their effectiveness in combating climate change. The evolution of carbon credits, from early regulatory milestones to international agreements and protocols, has paved the way for the growth of carbon pricing schemes and the establishment of emissions trading systems. However, challenges and criticisms have surfaced, prompting the need for reforms and innovations, including the potential of blockchain technology. Assessing the impact of carbon credits on climate change mitigation and their economic and social implications reveals both successes and areas for improvement in our quest towards carbon neutrality. It is essential to address regulatory and methodological challenges, leverage technology for improvement, and confront regulatory and social concerns to refine the mechanisms behind carbon credits effectively. Reforms and innovations, such as strengthening global frameworks and corporate commitments to carbon management, are integral in maximising the potential of carbon credits. The revolutionary EU carbon market reforms, including the "Fit for 55" policy package, signify a proactive approach towards achieving ambitious climate targets. #CarbonCredits #ClimateChangeMitigation #Sustainability #BlockchainTechnology #EmissionsReduction #EUClimatePolicy #CorporateResponsibility Let's continue to inspire action and innovation in pursuing more effective and accountable environmental stewardship. Together, we can make a meaningful impact in our global efforts towards sustainability. 🌿🌎 #SustainabilityMatters #EnvironmentalStewardship #ClimateActionNow Carbon Credits: Effective Climate Solution or Flawed Mechanism? - Kora Sustainability https://lnkd.in/eKm9Qgin

🌍 Exploring the Breakdown in the Carbon Credit Accreditation System 🌍 As we navigate the complex landscape of carbon credits, it becomes imperative to critically examine the efficacy of current methodologies. The evolving dialogue around leveraging blockchain and new technologies for enhancing the transparency and integrity of voluntary carbon credit systems is crucial for ensuring their effectiveness in combating climate change. The evolution of carbon credits, from early regulatory milestones to international agreements and protocols, has paved the way for the growth of carbon pricing schemes and the establishment of emissions trading systems. However, challenges and criticisms have surfaced, prompting the need for reforms and innovations, including the potential of blockchain technology. Assessing the impact of carbon credits on climate change mitigation and their economic and social implications reveals both successes and areas for improvement in our quest towards carbon neutrality. It is essential to address regulatory and methodological challenges, leverage technology for improvement, and confront regulatory and social concerns to refine the mechanisms behind carbon credits effectively. Reforms and innovations, such as strengthening global frameworks and corporate commitments to carbon management, are integral in maximising the potential of carbon credits. The revolutionary EU carbon market reforms, including the "Fit for 55" policy package, signify a proactive approach towards achieving ambitious climate targets. #CarbonCredits #ClimateChangeMitigation #Sustainability #BlockchainTechnology #EmissionsReduction #EUClimatePolicy #CorporateResponsibility Let's continue to inspire action and innovation in pursuing more effective and accountable environmental stewardship. Together, we can make a meaningful impact in our global efforts towards sustainability. 🌿🌎 #SustainabilityMatters #EnvironmentalStewardship #ClimateActionNow Carbon Credits: Effective Climate Solution or Flawed Mechanism? - Kora Sustainability https://lnkd.in/e9rGs48E

🌍 Exploring the Breakdown in the Carbon Credit Accreditation System 🌍 As we navigate the complex landscape of carbon credits, it becomes imperative to critically examine the efficacy of current methodologies. The evolving dialogue around leveraging blockchain and new technologies for enhancing the transparency and integrity of voluntary carbon credit systems is crucial for ensuring their effectiveness in combating climate change. The evolution of carbon credits, from early regulatory milestones to international agreements and protocols, has paved the way for the growth of carbon pricing schemes and the establishment of emissions trading systems. However, challenges and criticisms have surfaced, prompting the need for reforms and innovations, including the potential of blockchain technology. Assessing the impact of carbon credits on climate change mitigation and their economic and social implications reveals both successes and areas for improvement in our quest towards carbon neutrality. It is essential to address regulatory and methodological challenges, leverage technology for improvement, and confront regulatory and social concerns to refine the mechanisms behind carbon credits effectively. Reforms and innovations, such as strengthening global frameworks and corporate commitments to carbon management, are integral in maximising the potential of carbon credits. The revolutionary EU carbon market reforms, including the "Fit for 55" policy package, signify a proactive approach towards achieving ambitious climate targets. #CarbonCredits #ClimateChangeMitigation #Sustainability #BlockchainTechnology #EmissionsReduction #EUClimatePolicy #CorporateResponsibility Let's continue to inspire action and innovation in pursuing more effective and accountable environmental stewardship. Together, we can make a meaningful impact in our global efforts towards sustainability. 🌿🌎 #SustainabilityMatters #EnvironmentalStewardship #ClimateActionNow Carbon Credits: Effective Climate Solution or Flawed Mechanism? - Kora Sustainability https://lnkd.in/eRK_EbAe

There has been a lot of debate about the manner in which the EU is setting out to implement 'energy sustainability metrics' for crypto-assets under MiCA, with the major bone of contention being the one major crypto-asset backed by energy - Bitcoin. The debate ranged from a (thankfully rejected) proposal to ban Proof-of-Work to suggesting workable & unworkable metrics to measure the 'sustainability' of blockchain networks, so BCAS - Crypto Assets Regulation dedicated a lot of time to answering European Securities and Markets Authority (ESMA) 2nd consultation feedback round that covered this sensitive topic. Apart from publicising some of the feedback we provided, it would be opportune to provide some background on all this. The Paris Agreement aims to mitigate climate change by setting ambitious temperature goals. The EU is pushing the envelope with the European Green Deal, leveraging "sustainable finance" to drive towards a carbon-neutral economy, and giving birth to the EU's Action Plan on Sustainable Finance. The key outcomes are the EU Taxonomy (for sustainable activities) Regulation and the Sustainable Financial Disclosure Regulation. Crypto-assets, however, are regulated under MiCA, so the sustainability part was shoehorned within that Regulation. Key points under MiCA include stringent disclosure requirements for crypto-assets, focusing on environmental impacts and aiming for transparency and accountability. However, the elephant in the room is the accuracy of data collected in relation to decentralised networks; from energy consumption to GHG emissions, the path is fraught with technical complexities. The rhino in the room is the fact the Proof of Work is fundamentally different than Proof of Stake, beyond the consensus layer itself. There is the fear that the proposed sustainability indicators ignore this major difference, ergo the fact that energy consumption in Proof of Work networks is a vital feature, not a bug. Satoshi Nakamoto's whitepaper describes Bitcoin's energy/resource expenditure as a core component. While discussing the environmental impacts, it's vital to also spotlight the positive aspects of Bitcoin mining. Its capability to utilise surplus energy underscores its potential as a "buyer of last resort", promoting the adoption of renewable energy. Amidst these challenges, ESMA's efforts can perhaps be seen as a step towards transparency and sustainability in the crypto sector. Yet, several questions remain open, calling for a nuanced discussion on the future of sustainability in this field. You can read more about this in the excellent article that has been penned by Nicholas Abela, Senior Technical Associate at BCAS. https://lnkd.in/dizU9nv8

𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐓𝐫𝐮𝐬𝐭 𝐢𝐧 𝐕𝐨𝐥𝐮𝐧𝐭𝐚𝐫𝐲 𝐂𝐚𝐫𝐛𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭𝐬: 𝐀 𝐋𝐞𝐚𝐩 𝐓𝐨𝐰𝐚𝐫𝐝𝐬 𝐃𝐞𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐞𝐝 𝐂𝐎𝟐 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 🌍💚 Did you know? The US has announced new guidelines aimed at boosting transparency and integrity in voluntary carbon markets. This is a crucial development for enhancing trust and participation in carbon trading. 🔍 𝐊𝐞𝐲 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐬: New policies and earth observation technology are set to improve the measurement, monitoring, reporting, and verification of carbon credits, ensuring each credit represents a genuine reduction or removal of CO2. 🔗 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬 𝐟𝐨𝐫 𝐄𝐂𝐁 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬: ➡ 𝐃𝐞𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐞𝐝 𝐂𝐎𝟐 𝐒𝐭𝐨𝐫𝐚𝐠𝐞: Enhanced regulation aligns perfectly with our mission to decentralize CO2 storage, creating secure and efficient CO2 warehouses. ➡ 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧: With advanced technologies ensuring transparency, our blockchain-based approach to managing CO2 assets becomes even more robust and credible. ➡ 𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐄𝐦𝐩𝐨𝐰𝐞𝐫𝐦𝐞𝐧𝐭: As market trust grows, individuals will have greater confidence in accumulating and owning CO2, transforming it into a valuable and tradable asset. 💼 𝐑𝐞𝐚𝐥 𝐔𝐭𝐢𝐥𝐢𝐭𝐲: ECB Dynamics is at the forefront of leveraging blockchain to ensure transparency and security in CO2 management. Our initiatives support global climate action by creating a decentralized and commoditized CO2 market. 📊 𝐉𝐨𝐢𝐧 𝐭𝐡𝐞 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧: By participating with ECB Dynamics, you're not just investing in a greener future; you're helping to decentralize and commoditize CO2. Our efforts directly contribute to enhanced market trust and environmental sustainability. 𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://lnkd.in/dmHeh6F5 #ECBDynamics #DecentralizeCO2 #Blockchain #VoluntaryCarbonMarkets #GreenTech

Today’s VCM, Explained in Three Figures Is the market truly booming? Are offsets the next big solution or a scam? And what’s up with carbon crypto tokens? Here’s a quick tour through the voluntary carbon market, courtesy of our Ecosystem Marketplace analysts. If you want to learn more, visit our public Data Intelligence & Analytics Dashboard, and download the latest State […] Is the market truly booming? Are offsets the next big solution or a scam? And what’s up with carbon crypto tokens? Here’s a quick tour through the voluntary carbon market, courtesy of our Ecosystem Marketplace analysts. If you want to learn more, visit our public Data Intelligence & Analytics Dashboard, and download the latest State of the Voluntary Carbon Markets report, where all of these insights were first published.. One: Voluntary carbon credit transactions quadrupled in value last year, but in the big picture, they’re still a drop in the bucket. Voluntary markets leapt from $520 million in 2020 to $2 billion in transactions in 2021. That jump was driven in large part by rising prices for credits, especially for nature-based credits for activities like reforestation, “blue” carbon from coastal and marine ecosystem projects, and avoided forest conversion. Buyers like these credits in part because they deliver non-carbon benefits such as income for communities, or protecting biodiversity. We’ll come back to that point later. This boom is a sign that net zero carbon pledges are moving the needle, and companies and other actors are using offsets to trim emissions that are otherwise hard to cut right away. It also means $2 billion in additional finance for green projects around the world. Overall, the voluntary carbon markets have delivered $8 billion in climate finance since we began tracking them in 2005. That’s a significant contribution to the climate effort, but when you compare it to, say, fossil fuel subsidies, which total $6 trillion a year, it’s a pretty small number. Read more: https://lnkd.in/d8HNGgB4 source: https://lnkd.in/d_e5HmSb #carboncredit #sustainable #VCM #future

𝐃𝐞𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐢𝐧𝐠 𝐂𝐎𝟐 𝐰𝐢𝐭𝐡 𝐄𝐂𝐁 𝐓𝐨𝐤𝐞𝐧: 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬 💚🌍 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐂𝐚𝐫𝐛𝐨𝐧 𝐂𝐫𝐞𝐝𝐢𝐭𝐬 𝐚𝐧𝐝 𝐂𝐚𝐫𝐛𝐨𝐧 𝐎𝐟𝐟𝐬𝐞𝐭𝐬? Carbon offsets are credits that you purchase to balance out your emissions. You fund a project that removes or stores the same amount of CO2 you emitted, but in a different place. Essentially, your credit purchase "retires" the emissions by contributing to a carbon sink, such as land restoration or other environmental projects. 𝐖𝐡𝐲 𝐒𝐡𝐨𝐮𝐥𝐝 𝐂𝐎𝟐 𝐁𝐞 𝐃𝐞𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐞𝐝? The traditional carbon offset system has its flaws. Often centralized and controlled by large organizations, it can lead to inefficiencies, lack of transparency, and questions about the actual impact of these offsets. Decentralizing CO2 management addresses these issues by empowering individuals to take direct control of CO2 storage and management. 🔍 𝐖𝐡𝐚𝐭’𝐬 𝐭𝐡𝐞 𝐈𝐦𝐩𝐚𝐜𝐭? Decentralizing CO2 means creating a more transparent and efficient system where everyone can participate in managing and reducing CO2 emissions. By spreading the responsibility across a wider base, we can ensure more effective and verifiable CO2 management. 🌿 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬 𝐟𝐨𝐫 𝐄𝐂𝐁: ➡ 𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐀𝐮𝐭𝐨𝐧𝐨𝐦𝐲: ECB Token empowers individuals to own and manage CO2 directly. This decentralization turns CO2 from a complex environmental issue into a manageable and valuable asset. ➡ 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐭 𝐂𝐎𝟐 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭: By decentralizing CO2 storage, ECB ensures transparency and accountability, allowing for more reliable and impactful CO2 sequestration. ➡ 𝐑𝐞𝐚𝐥 𝐔𝐭𝐢𝐥𝐢𝐭𝐲: Once accredited and certified, owning CO2 through ECB’s initiatives will provide real utility, fundamentally changing how we manage and interact with CO2. 📊 𝐉𝐨𝐢𝐧 𝐭𝐡𝐞 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧: With ECB, you’re not just investing in a sustainable future; you’re participating in the decentralization and commoditization of CO2. Our initiatives directly contribute to CO2 sequestration and revitalizing nature. 𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://lnkd.in/eEVcV8M2 #ECBToken #CO2Ownership #DecentralizeCO2 #GreenTech #Blockchain #CO2Markets

“Carbon Credits Explained: A Beginner’s Guide to the Voluntary Carbon Market” Bitgreen Blockchain - Mar 28, 2023 “The #voluntarycarbonmarket has been growing at a record pace in recent years as businesses, governments, and individuals increasingly recognize the importance of transitioning to a #netzeroeconomy. With the price of #EUcarbonpermits increasing 400% from 2019 to 2022, and with projections estimating the potential size of the voluntary market between US$10 billion and US$50 billion by 2030, stakeholders and speculators from various vantage points in the global economy are trying to get their bearings straight on #carbonfinance. But what exactly are #carboncredits, and why do they hold such significance amid the current #climatecrisis?” “What is carbon credit? Carbon credits, also known as #carbonallowances or #carbonoffsets, are simply a way to assign value to #greenhousegas (#GHG) emissions reductions. Think of them like an accounting entry for the environment. Each carbon credit represents the right to emit one tonne of GHGs, standardized in a corresponding amount of tonnes of #carbondioxide (#CO2) equivalent.” “Carbon credits were first introduced under the #CleanDevelopmentMechanism (#CDM) of the #KyotoProtocol, a 1997 international treaty that extended the #UnitedNationsFrameworkConventiononClimateChange, which committed state parties to #reducegreenhousegasemissions. Carbon credits have since become an integral market-based instrument of the #parisagreement (Article 6), adopted in 2015.” “Through a system of “#CapandTrade,” governments set a limit (or “cap”) on the total emissions allowed for companies or specific countries. Certain entities are allocated a free quota of permitted emissions, or alternatively, are required to purchase a certain number of carbon credits, which they can trade with one another. When an entity reduces its emissions below its allocated limit, it can sell its surplus credits to other entities that emit GHG emissions above the allocated limit. This way, carbon credits create a market-based incentive for entities to reduce emissions and invest in cleaner technologies, while allowing some flexibility in how they achieve these goals.” “Over 170 different type of voluntary carbon credits exist. The largest categories in 2021 were Forestry & Land Use (45%) and Renewable Energy (28%).” https://lnkd.in/gkRMfpMb Source - original post Read all my posts #MariusPreston

Applying modern technology to accelerate the #removal and #reduction of global #greenhousegas #emissions is a demanding challenge for humankind. Inspiring work happens every day by policymakers, standards bodies, regulators and market practitioners. Maturing a mutual understanding of the "why" we must do something and removing friction in any system is critical to mass adoption and success. We strive to play our small part in a society must-win journey. Tokenovate #ESG #carbonmarkets #derivatives #BSVBlockchain