{"id":16315,"date":"2023-01-17T07:40:28","date_gmt":"2023-01-17T07:40:28","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/putting-carbon-credits-on-blockchain-wont-solve-the-problem-alone-davos\/"},"modified":"2023-01-17T07:40:31","modified_gmt":"2023-01-17T07:40:31","slug":"putting-carbon-credits-on-blockchain-wont-solve-the-problem-alone-davos","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/putting-carbon-credits-on-blockchain-wont-solve-the-problem-alone-davos\/","title":{"rendered":"Putting carbon credits on blockchain won\u2019t solve the problem alone: Davos"},"content":{"rendered":"<p><\/p>\n<div data-v-5a4050f8=\"\">\n<p>Simply trading carbon credits, on the blockchain or otherwise, won\u2019t solve a lot for the environment as companies must understand why they\u2019re using them and how to make a real impact, carbon blockchain executives argue.<\/p>\n<p>During a panel session in Davos, Switzerland, moderated by Cointelegraph\u2019s editor-in-chief Kristina Lucrezia Corn\u00e8r on Jan. 16, several executives from carbon blockchain platforms spoke about the increasing interest from companies in carbon trading.<\/p>\n<p>Karen Zapata, the COO of carbon blockchain platform ClimateTrade, said that sustainability had been a \u201ctrending topic\u201d with many companies keen to get involved, but said that many still don\u2019t understand it. <\/p>\n<p>She recalled talking to a sustainability manager of a \u201cbig, big company\u201d who told her he doesn\u2019t know what a carbon credit is or \u201chow it works\u201d but is being pressured by his marketing team to \u201cmove this forward.\u201d<\/p>\n<p>Zapata emphasized that companies won\u2019t be able to communicate what they are doing with carbon credits to their community if they don\u2019t \u201ceven understand\u201d what it is.<\/p>\n<p>She added that one should be less concerned about the pricing behind carbon credits, and more about the impact.\u00a0The price comes second, once the positive impact is understood, she explained.<\/p>\n<p>Carbon marketplace Tolam Earth CEO Matthew Porter added to the conversation saying that carbon trading by itself \u201cdoesn\u2019t solve a lot,\u201d without knowing why they are doing it and creating \u201cincentives and drivers.\u201d<\/p>\n<p>He also added that putting it on the chain only solves a \u201clittle bit\u201d of inefficiency.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Blockchain\u2019s environmental impact and how it can be used for carbon removal<\/em><\/strong><\/p>\n<p>There has been no shortage of carbon credit developments in the blockchain space in recent times.<\/p>\n<p>Blockchain-based storage network Filecoin launched Filecoin Green, a protocol labs initiative designed to reduce the environmental impact of its native cryptocurrency Filecoin in Oct. 2022.<\/p>\n<p>The first project it launched was CO2.Storage, a Web3 data storage solution that aims to provide transparency for carbon offsets and address traditional storage solutions for all types of digital environmental assets, including renewable energy credits.<\/p>\n<p>WeWork CEO Adam Neumann dived into the carbon crypto space in May 2022, raising $70 million in the first major funding round for his climate tech venture Flowcarbon.<\/p>\n<p>The project was created to make carbon trading more accessible by putting carbon credits on the blockchain.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Simply trading carbon credits, on the blockchain or otherwise, won\u2019t solve a lot for the environment as companies must understand why they\u2019re using them and how to make a real impact, carbon blockchain executives argue. During a panel session in Davos, Switzerland, moderated by Cointelegraph\u2019s editor-in-chief Kristina Lucrezia Corn\u00e8r on Jan. 16, several executives from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-16315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Putting carbon credits on blockchain won\u2019t solve the problem alone: Davos | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/putting-carbon-credits-on-blockchain-wont-solve-the-problem-alone-davos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Putting carbon credits on blockchain won\u2019t solve the problem alone: Davos | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Simply trading carbon credits, on the blockchain or otherwise, won\u2019t solve a lot for the environment as companies must understand why they\u2019re using them and how to make a real impact, carbon blockchain executives argue. 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