Calling for a Joint Effort: Standardizing Tokenized Carbon Emissions
Cointelegraph
Published Jul 29, 2020 09:00AM ET
Updated Jul 29, 2020 11:00AM ET
Climate change is one of the greatest problems facing society today. Therefore, it shouldn’t come as a surprise to see large corporations stepping in to mitigate their environmental impact. For example, Amazon (NASDAQ:AMZN) plans to be carbon neutral by 2040; Starbuck has goals to become “resource positive” by reducing carbon emissions; and Microsoft (NASDAQ:MSFT) has aims on getting to a carbon-negative status by 2030.
Companies that vow to take responsibility for offsetting their own carbon emissions are part of voluntary carbon marketplaces. Unfortunately, a common set of standards doesn’t exist to ensure that voluntary carbon markets operate efficiently when companies produce environmental, social and governance reports. Instead, a number of offset standards have been passed over the years, creating confusion and even fraud among organizations.
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Written By: Cointelegraph
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