Take a look at this chart…
It shows the CO2 emissions from energy combustion and industrial processes from 1900 to 2021… And sadly, it’s going the wrong way.
The world is struggling to make the changes needed to save the world from the disaster of +1.5C of warming. But there’s a glimmer of hope. Slowly but surely, the world is moving away from fossil fuels.
In the meantime, how can we reduce our impact on the planet? For many, the answer lies in carbon credits. The market is expected to grow 15x or more by 2030 and up to 100x by 2050. That’s massive, and it’s great news for the planet.
To find out why, let’s take a closer look.
What are carbon credits?
Simply put, a carbon credit represents one tonne of carbon emissions that has been either removed from the atmosphere or avoided.
There are 3 main ways this is done…
The simplest way of reducing emissions is to avoid them in the first place. Many projects do this by preventing the destruction of forests and other valuable ecosystems which stops their carbon from being released into the atmosphere. Some projects also reduce carbon emissions by offering low or no carbon alternatives to existing activities, like for example distributing energy-efficient cookstoves.
Plants and organic matter consume and store carbon as they grow, so many carbon credits are generated by projects that plant and maintain forests and other organic systems that take carbon out of the atmosphere.
Then there are those that harness cutting-edge technology to take carbon out of the atmosphere, like the Icelandic project, Carbfix, for example. This project uses fans to draw CO2 out of the atmosphere and store it in underground caves. Projects like these are prohibitively expensive, for now, but this may change in the future.
Who Buys Carbon Credits?
Carbon credits are usually bought by two different types of buyer, each served by one of two markets.
First, there’s the Compliance Market. This market consists of highly regulated credits that companies with high emissions are legally required to purchase to offset their emissions. Usual customers include energy companies, oil refineries, iron and steel works, and other heavy industries.
Then, there’s the Voluntary Carbon Market (VCM). This market caters to those who wish to offset their carbon emissions but are not legally required to. Companies, countries, and organisations that have made Net Zero pledges, for example, rely on the VCM to help them achieve their green goals. It’s also great for individuals that want to personally account for their carbon footprint.
At Likvidi, we operate in the Voluntary Carbon Market. It’s our mission to tokenize carbon credits bringing the benefits of speed and transparency to the industry.
Why Should You Care?
The truth is…. almost everything we do comes with a carbon cost.
Whether you’re making a coffee, streaming a movie, or riding an e-scooter; resources, energy and emissions were involved. While we transition towards a low-carbon world, carbon credits help lessen our impact.
Natural disasters are becoming more frequent, temperatures are rising, and still, many governments drag their feet. If you want action now, consider offsetting your emissions.
Until now, offsetting your emissions would’ve been complicated. But we’ve created something totally new: an NFT that stores carbon. Our carbonized NFTs contain real-world carbon credits that have been bridged to the blockchain. This means that once minted, that carbon will be permanently stored and never contribute to global warming. Carbonized NFTs will be available through our all new Carbonstore platform launching in early June. It’s now possible for anyone in the world to accurately offset their carbon emissions with ease.
Start Fighting Climate Change Now
We are already seeing the disastrous effects of climate change, ahead of schedule. For now, the power is still in our hands. With carbonized NFTs, the battle against climate change just went digital. If you want to be part of something truly meaningful, join our community on Discord or Telegram.