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Web3 Revolutionizing Climate Action: Sustainable Solutions in Carbon Markets
One of the biggest problems facing humanity in the twenty-first century is climate change.The science is clear: if we want to avoid the worst consequences of global warming, we must dramatically reduce our greenhouse gas emissions. However, this is not easy to achieve, as it involves transforming the way we produce and consume energy, as well as the way we do business.
Fortunately, technology can be a great ally in this fight. In particular, Web3 technology, which is based on the use of decentralized networks, open protocols and cryptocurrencies, is revolutionizing sustainable energy markets. Web3 offers innovative solutions to manage and trade carbon credits, incentivize the reduction of emissions and offset the carbon footprint.
The goal of this article is to explore how Web3 and blockchain technology are transforming sustainability, focusing on carbon trading and efficient emissions management. We will also look at some practical examples of how Web3 is driving the growth of voluntary carbon markets and facilitating peer-to-peer energy trading.
Web3 and the Sustainable Revolution
Web3 is a term used to describe the evolution of the web towards a more open, participatory and democratic platform. Web3 is based on the use of technologies such as blockchain, smart contracts, tokens and oracles, which allow the creation of decentralized applications (DApps) that work without intermediaries or central authorities.
These technologies have allowed us to develop sustainable solutions in areas such as renewable energy and carbon capture. Projects like Power Ledger allow users to generate and sell solar energy through a blockchain platform; o CarbonX uses tokens to reward consumers for reducing their carbon footprint.
However, these solutions are not without challenges. One of them is the volatility in the value of Web3-related assets, such as cryptocurrencies or tokens. These assets can experience strong fluctuations due to factors such as supply and demand, speculation or regulations. For example, there has recently been a 70% drop in the value of some Web3 assets, which has negatively affected their adoption and credibility.
However, it is important not to lose sight of the technological advances underlying these solutions, as they are what can really make a difference in the transition to a low-carbon economy. Web3 development company offers a unique opportunity to create a more transparent, efficient and inclusive system for managing and trading carbon credits.
Blockchain and Carbon Credit Management
Carbon credits are units that represent one ton of carbon dioxide (CO2) equivalent that has been avoided or removed from the atmosphere. Carbon credits can be generated through projects that reduce or capture greenhouse gas emissions, such as planting trees, installing solar panels, or capturing methane.
Blockchain technology is being used to address climate change, managing carbon credits and reducing emissions. Blockchain is a technology that allows the creation of distributed and immutable records of transactions, without the need for intermediaries or central authorities. Blockchain offers advantages such as transparency, traceability, security and efficiency.
Blockchain simplifies the integration of renewable energy, enabling efficient carbon trading and a financial incentive for emissions reduction. Projects like WePower use blockchain to connect producers and consumers of green energy, facilitating access to carbon credits; o Nori uses blockchain to create a carbon removal market, rewarding farmers for sequestering CO2 in the soil.
Web3 and Carbon Offsetting
Carbon offsetting is a practice of offsetting greenhouse gas emissions that cannot be avoided or reduced by investing in projects that eliminate or prevent them. Carbon offsetting can be done through mechanisms such as the Clean Development Mechanism (CDM) or the Gold Standard.
Web3 revolutionizes the carbon offset market, providing transparency and reducing risks. Web3 allows you to create decentralized carbon registries, which verify and validate the carbon credits generated by offset projects. These records can be audited by anyone, increasing trust and credibility.
Additionally, Web3 makes it easier for both suppliers and buyers to access and participate in the carbon offset market. Web3 allows you to create platforms that directly connect the actors involved, without intermediaries or commissions. Web3 also allows you to create tokens that represent carbon credits, making them easier to trade and use.
A practical example of how Web3 is applying carbon management is the partnership between the Energy Web Foundation and Vodafone. Energy Web Foundation is a non-profit organization that develops blockchain solutions for the energy sector. Vodafone is a multinational telecommunications company. Together they have created a blockchain platform that allows users to verify and certify their emissions and compensation actions
Peer-to-Peer Energy Trading on Blockchain
Peer-to-peer energy trading is a form of trading in which users can buy and sell energy directly with each other, without intermediaries or centralized networks. Peer-to-peer energy trading can improve the efficiency, resilience and sustainability of the energy system.
Blockchain is taking peer-to-peer energy trading to a new level, enabling direct and decentralized trading. Blockchain allows the creation of intelligent networks (smart grids) that connect users with renewable energy sources, such as solar panels or wind turbines. These smart grids can adjust energy supply and demand in real time, optimizing usage and price.
In addition, blockchain allows the creation of tokenization solutions and smart contracts, which facilitate energy trading and payment. Tokenization consists of converting an asset or right into a digital token that can be exchanged on a blockchain platform. Smart contracts are self-executing agreements that are activated when certain conditions are met.
An example of how blockchain is innovating tokenization and smart contracts is Veridium and its partnership with IBM. Veridium is a company that offers solutions to measure, manage and offset carbon emissions. IBM is a leading technology and innovation company. Together they have created a blockchain platform that uses tokens to represent carbon credits and smart contracts to automate their buying and selling.
Beyond Cryptocurrencies: Potential of Web3
Web3 and blockchain are much more than cryptocurrencies. These technologies have the potential to transform various economic sectors, such as health, education, transportation or agriculture. Web3 offers solutions to improve the quality, accessibility and efficiency of services, reduce costs and risks, and promote inclusion and equity.
It is important to comprehensively understand the transformative potential of these technologies for the business landscape. Web3 and blockchain can change the rules of the game, creating new business opportunities, but also new challenges and risks. Therefore, it is essential to be prepared and adapt to this transformation
Digitalization and Growth in the Voluntary Carbon Market
Digitization is a process that consists of converting analog information into digital format. Digitization can improve security and transparency in the carbon market by creating immutable and verifiable records of carbon credit transactions.
Digitalization can also drive the growth of voluntary carbon markets by supporting genuine sustainability initiatives. Voluntary carbon markets are those in which actors decide to offset their emissions on their own initiative, without being bound by international standards or agreements.
Digitalization can make it easier for both suppliers and buyers to participate in voluntary carbon markets. Digitalisation can simplify the carbon credit verification and certification process, reduce costs and time, and increase trust and credibility.
Final conclusion
In this journey through the Web3 revolution and blockchain technology in the field of sustainability, a promising horizon is evident. Beyond cryptocurrencies, these emerging technologies are positioned as key catalysts in the fight against climate change and the creation of a green economy. The capacity for decentralization, transparency and efficiency that they offer becomes a beacon of hope.
Despite challenges, such as asset volatility, it is highlighted that these are temporary obstacles on the path to a more sustainable future. The responsible adoption of these innovations is presented as an ethical imperative, and its impact goes beyond the financial sphere, opening doors to transformation in diverse sectors such as health, education and agriculture.
At this crucial point in our history, collaboration between sectors is revealed as a determining factor. Active citizen participation stands as an essential driver for the success of these initiatives. Beyond technological effectiveness, it is crucial to remember that we are shaping a future in which ethics and social responsibility must be the pillars.
Looking forward, the vision encompasses a landscape where technology, environmental awareness and collaboration build a strong fabric for a more equitable and sustainable society. The mass adoption of Web3 and blockchain not only represents a technological revolution, but a revolution in the way we conceive and preserve our shared home: planet Earth.
This is the beginning of a new era, where innovation and consciousness intertwine to build a greener and more promising tomorrow. The invitation is clear: let us adopt these technologies wisely, forge strong alliances and together build a future where sustainability is more than a goal, it is the very basis of our progress.
#Web3#Blockchain#ClimateAction#Sustainability#CarbonMarkets#RenewableEnergy#Decentralization#GreenEconomy#Cryptocurrency#PeerToPeerTrading#CarbonOffsets#Digitalization#VoluntaryCarbonMarket#SmartContracts#TechForGood
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Climate Change Economics: Carbon Capitalism, Regenerative Agriculture, Urban Farming & Beyond
Through an examination of carbon capitalism and the development of local and regional carbon markets, the article presents a compelling case for the adoption of technologies and practices that lead to net-zero emissions. It stresses the importance of coordinated action and innovation in reaching global temperature goals.
Visit Envirotech Accelerator for related articles.
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Pricing Carbon with Aldyen Donnelly (S01E107 )
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Carbon Dioxide Market Evolution: From Emissions Regulation to Renewable Energy Integration
The global carbon dioxide market size is expected to reach USD 15.46 billion by 2030, expanding at 5.0% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is majorly driven by the increasing usage of CO2 for enhanced oil recovery (EOR) in oil & gas plants.carbon dioxide (CO2) is considered to be among the major and most extensively utilized medical gases. Furthermore, in the medical industry, CO2 is used in respiratory and cryotherapy stimulation during the process and post-anesthesia application. In cryotherapy, CO2 in frozen form (–78.5 °C) is used for killing body cells via a crystallization process. This gas can also be used in several processes to remove moles, skin tags, and warts.
Carbon Dioxide Market Report Highlights
Ethyl alcohol dominated the source type by accounting for a revenue share of 33.0% in 2023. It is projected to grow at the highest growth rate of 5.2% from 2024 to 2030 owing to its reliability as an easily available long-term source and high commercial value in producing CO2 as a by-product
Further, growth in demand for food-grade carbon dioxide in the forecast period will boost the growth of the production of carbon dioxide from ethyl alcohol
The food and beverages application segment of the market is anticipated to grow at a CAGR of 5.7% from 2024 to 2030, by revenue, thanks to rising demand for carbonated drinks globally
North America accounted for the largest revenue share of 42.0% of the CO2 industry in 2023. It is expected to continue its dominance over the forecast period. This can be attributed to increasing R&D, expansion of the industrial sector & growth of enhanced oil recovery processes
For More Details or Sample Copy please visit link @: Carbon Dioxide Market Report
CO2 also finds application in modern medicine to minimize invasive surgeries. In medicinal baths, it induces warm sensations and acts as a vasodilator for the skin by stimulating its heat receptors. In addition, insufflation with CO2 makes it easier to perform endoscopic procedures.
CO2 can be produced and recovered through various sources such as ethyl alcohol, hydrogen, ethylene oxide, substitute natural gas, and various other sources. Further, current research & development to capture carbon emissions has gained momentum. New research and development do not only aim to capture the CO2 in the form of carbon emissions but to refine and reuse it for some applications.
The carbon capture and storage (CCS) technology is capable of delivering considerable emission reductions from the utilization of fossil fuels. It is capable of lowering emissions from a wide range of industries such as power generation, steel, iron, refining, petrochemicals, and cement manufacturing. CCS technologies include capture, transport, and storage. Capture technology includes post-combustion, pre-combustion, oxy-firing, and industrial separation.
The key players in this industry are Air Products and Chemicals Inc.; Messer SE & Co. KGaA; Air Liquide; Linde Plc to maintain the market, share. Large firms frequently engage in mergers and acquisitions as well as new product launches. For instance, In September 2022, Covestro and SOL Kohlensäure GmbH & Co. KG signed a memorandum of understanding for collaboration in regards to the supply of biogenic CO2, effective from September 2022.
#CarbonDioxideMarket#CarbonDioxide#CO2#CarbonTrading#CarbonOffsets#CarbonCapture#EmissionsReduction#GreenEconomy#CarbonMarket#Decarbonization#ClimateFinance#LowCarbonFuture#EmissionsTradingSystem#CarbonFinance
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News from Australia, 10 July
Noel Pearson, a prominent Indigenous elder and architect of the Uluru Statement from the Heart, has called for support for the Voice in Queensland, describing it as a crucial event in Australian history.
Mr Pearson highlighted the achievements of Indigenous leaders from Queensland and urged voters to seize the opportunity for change.
Lockhart River Mayor Wayne Butcher and Aurukun Shire Mayor Keri Tamwoy also voiced their support for the Voice, emphasizing the need for improved representation and partnerships in Indigenous communities.
Despite the opposition and poor polling, Pearson expressed optimism that the fundamentals for success have been laid in Queensland.
2. Consulting firm PwC will repay over $800,000 it received for work on the robodebt scheme following the findings of a royal commission that deemed the scheme "cruel and crude."
PwC's partner involved in the work is no longer employed by the company.
The lack of transparency and failure to deliver a comprehensive report by PwC raises concerns about its involvement in government consulting.
3. The Carbon Market Institute has called for a reduction of Australia's emissions by more than 70% by 2035 and suggested implementing a jet fuel emissions trading scheme and special schemes for heavy vehicles to achieve this target.
#SupportTheVoice#IndigenousLeaders#ChangeIsPossible#RobodebtRepayment#TransparencyConcerns#EmissionsReduction#CarbonMarket#ClimateAction
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Carbon Capture Technology Market
The global carbon capture technology market size was valued at USD 2.02 billion in 2021 and is expected to grow at a CAGR of 13.6% over the forecast period 2022-2028.
Get Free Sample PDF: https://cutt.ly/g2zcrZz
#carbon#carboncapture#technology#carbonindustry#carboncapturetechnology#carbonmarket#statsmarketresearch#marketresearchreport#oil#gas
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Headlines of interest, 7/22 - 7/27/2022
for all of China’s “massive build-up” of clean energy, climate action remains “hostage to energy security”, particularly after last year’s “crippling” power shortages and the “spike” in prices.
Russia's war spurs renewables, not coal in long run, UK climate envoy says (Reuters)
UK climate envoy John Murton says the war in Ukraine will accelerate Europe’s shift to renewable energy from fossil fuel in the longer term, even as it prompts nations to burn more coal over the coming months to offset reduced Russian gas supplies,
Climate change is a crisis. Invoking emergency powers won’t solve it. (Washington Post, editorial)
it would be a “dubious move” for US president Joe Biden to declare a national climate emergency to enact forward his climate policies. “A national emergency declaration would unlock 136 statutory powers, only a few of which relate to climate. It would allow the administration to restrict drilling on federal lands and end crude oil exports, but those steps would not enable Mr Biden to efficiently reach his climate goals and could harm US industries.
“emergency powers were never meant to address long-standing policy priorities”. It concludes: “Presidents should not use these declarations to enact their agendas whenever they are impeded by Congress, whether it is President Donald Trump invoking a national emergency over the border or Mr Biden considering one for climate.
Climate change and within-country inequality: New evidence from a global perspective
climate change is driving an increase in income inequality within countries – not just between them, as previous research has focused on.
“key structural factors” that make countries more vulnerable to climate effects, including the proportion of the population that works in the agriculture sector.
The 150% energy-price shock waiting for the next UK leader (Bloomberg)
one in three households are expected to be pushed into energy poverty as a result of the next increase,
China is preparing to step in to curb soaring solar prices (Bloomberg)
China’s government is “preparing to intervene to halt soaring polysilicon prices that have suppressed demand for solar panels”, ... prices for the material have “surged to a 10-year high, propelled by strong adoption of clean energy and supply constraints after several factories halted output for maintenance”. Separately, ... China’s year-old carbonmarket that “design flaws and data fraud” have meant “limited large-scale greenhouse gas reductions and environmental gains”, ...
The audacious PR plot that seeded doubt about climate change (BBC News)
A feature by BBC News relives “a bold plan” by a notorious US PR strategist and the oil industry 30 years ago that was “cooked up to spread doubt and persuade the public that climate change was not a problem”. The feature continues: “The little-known meeting – between some of America’s biggest industrial players and a PR genius – forged a devastatingly successful strategy that endured for years, and the consequences of which are all around us.” It adds that the plan was to use underhand tactics to “persuade people that the scientific facts [about climate change] weren’t settled, and that alongside the environment, policymakers needed to consider how action on climate change would…negatively affect American jobs, trade and prices”. Elsewhere, BBC News also publishes a feature exploring how to talk to deniers about climate change. It comes as John Harris publishes a column in the Guardian titled: “Berating climate sceptics isn’t enough – disruptive protest now seems the only way forward.”
Do men and women think about climate change differently? (Economist)
Most people, of any gender, recognise that climate change is a threat. But in more wealthy countries men were more likely than women to answer that they were not concerned about it. Take America. In one survey by Pew Research Centre, a think-tank, 20% of men said that climate change is “not a problem”, while only 8% of women agreed.
The richer the country (GDP), the greater the lack of climate concern
America (world’s largest economy): 20% of men, 8% of women
Britan (5th largest economy): 11% men, 4% women
Uganda (one of the poorest countries): 1.7% men, 2.4% women
men in rich countries have a bigger carbon footprint than women, so they may feel they have more to lose from policies that limit emissions
State of the climate: 2022 on track for a summer of extreme heat (Carbon Brief)
“even with 2022 not setting a new record, the world will have experienced its eight warmest years on record in the past eight years”.
If Biden isn’t willing to really fight the climate crisis, he shouldn’t run in 2024 (The Guardian)
Young people have waited in vain for the administration to evince a fiery, existential urgency around climate. But Biden has shown himself either unwilling or unable to don the same brass knuckles as his opponents.” ... Biden is a “decent man”, but “he needs to realise he’s at war with the oligarchs. And then he needs to start winning.”
... “Promising a low-emissions future 30 years down the road sounds nice, until people start noticing what those policies cost today – whether in household energy or gasoline prices. [U.S. climate envoy] John Kerry wants to lecture the world on a policy he can’t even sell to the US Senate.”
EU countries agree deal to cut use of gas this winter as they brace for reductions in Russian supply (Sky News)
Voluntary, and with exemptions:
EU member states have “agreed a plan for dramatic cuts in their use of natural gas in the event that Russia halts its supply to the continent”, ... the deal agreed by energy ministers in Brussels will see states reducing their consumption by 15% between August and March, albeit on a voluntary basis rather than the obligation that was originally envisaged by the EU.
a “get-out clause” for countries not connected to the EU’s gas pipelines, such as Ireland, Malta and Cyprus, as they would be unable to seek alternative supplies. ... Other exemptions exists for Baltic nations that are not hooked up to the European electricity system and are heavily reliant on gas for electricity production, as well as countries that exceed gas storage filling targets, are heavily dependent on gas for “critical” industries, or if their gas consumption has increased by at least 8% in the past year, the piece continues. ... due to all of the exemptions, “the deal may not actually succeed at its initial goal: ensuring the EU will be prepared to live without Russian gas this winter come what may”.
a group of EU states, dubbed “le club des refuseniks” and including Poland, Belgium, Spain, Portugal, Italy, Ireland, Malta, Cyprus and France, were responsible for “watering down” the targets. The newspaper says many of the countries “reject the idea that they should face an economic shock because of Germany’s reliance on Russia” for gas.
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Will the carbon offset markets be enough to cover 50 Billion Tons of CO2...
#youtube#CarbonOffset#ClimateChange#CarbonMarket#CO2Emissions#EnvironmentalImpact#Sustainability#ClimateSolutions#CarbonNeutral#GreenTechnology#RenewableEnergy#CarbonTrading
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Activated Carbon: Addressing Challenges and Opportunities in the Global Market
The global activated carbon market size is expected to reach USD 4.80 billion by 2030 to expand at a CAGR of 3.7% from 2024 to 2030 according to a new report by Grand View Research, Inc. This increase can be attributed by the need for a powdered and granular form is expected to increase as the demand for water and air purification in coal-fired plants grows and clinker cement industries. Asia Pacific dominated the regional segment due to the growing industrialization in Japan and the developing economies. North America is another key region contributing to market growth due to stringent emission regulations in the region.
Activated Carbon Market Report Highlights
Powdered activated carbon segment dominated the type segment as they are used in water treatment which is the major end use industry of the market
Asia Pacific witnessed the fastest growth rate due to factors like large availability of good quality coconut shell. The regional market is also driven by growing disposable income, surge in the automotive industry
Companies such as Cabot Corporation have fully integrated their processes. Raw material procuring, product preparation and distribution processes are fully integrated. The full integration strategy adopted by companies is done to offset the volatility involved in raw material procurement and to implement strict quality parameters on production
The spread of COVID-19 has negatively impacted each and every sector including chemical. The supply chain of raw materials of silicone-based adhesion market drastically impacted the production and consumption pattern
For More Details or Sample Copy please visit link @: Activated Carbon Market Report
Various regulatory agencies have enacted strict environmental pollution control policies and encouraged the use in air and water treatment plants, which is expected to boost the market throughout the anticipated period. Implementation of regulations by various governments is expected to drive the product consumption in the forecast period.
The supply chain of the raw materials was drastically impacted by the COVID-19 outbreak, which further affected the production and consumption patterns globally. Powdered carbon type has dominated the product consumption since last decade. Consequently, halt in production of non-essential chemicals, ingredients or industrial products has drastically hampered demand. This resulted in negative impact on the market in 2020.
#ActivatedCarbon#CarbonFiltration#Adsorption#WaterTreatment#AirPurification#EnvironmentalProtection#Sustainability#IndustrialApplications#CleanWater#CleanAir#PollutionControl#WastewaterTreatment#ActivatedCharcoal#CarbonMarket#RenewableResources
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