Putting carbon credits on the blockchain is a step in the right direction but not the end-all solution to climate change, says blockchain executives during a panel in Davos.
Simply trading carbon credits, on the blockchain or otherwise, won’t solve a lot for the environment as companies must understand why they’re using them and how to make a real impact, carbon blockchain executives argue.
Karen Zapata, the COO of carbon blockchain platform ClimateTrade, said that sustainability had been a “trending topic” with many companies keen to get involved, but said that many still don’t understand it. Carbon marketplace Tolam Earth CEO Matthew Porter added to the conversation saying that carbon trading by itself “doesn’t solve a lot,” without knowing why they are doing it and creating “incentives and drivers.”There has been no shortage of carbon credit developments in the blockchain space in recent times., a protocol labs initiative designed to reduce the environmental impact of its native cryptocurrency Filecoin in Oct. 2022.
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