Approaches countries are taking for carbon credits

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Approaches countries are taking for carbon credits

As we are all aware of the fact that our mother earth is being harmed because of the carbon emissions that we are creating because of our daily usage of fossil fuels and other carbon emission machinery. For example: as seen in the image European and American countries produce the most amount of carbon dioxide each. Carbon dioxide is a greenhouse gas and results in global warming.

Thus, countries are now making schemes to try to reduce or cancel out this carbon emission so that global warming can be reduced and the overall temperature of the planet reduces and avoids the melting of the glaciers.

Currently, around 170 countries have submitted their National determined contributions (NDCs) so far and everyone is aiming to achieve net zero emissions.

Approaches different Countries are using:

India:

Currently, India has set a target to reach net zero emissions by 2070. On 12th December 2022, The Parliament of India passed the Energy Conservation (Amendment) Bill which states that they will now establish a carbon market in the country where the primary focus would be on making a carbon credit trading scheme. This trading scheme will enable companies to sell and buy carbon credits over the internet. Currently, the government is encouraging organizations to register themselves for the carbon market.

United States:

The United States aims to reach net-zero emissions of green-houses gases by 2050; with aiming to get it to half by 2030. To reach this feat the country similar to every other country is encouraging industries to go green as much as they can, encouraging people by promoting to provide various benefits. Policies such as Forestry and Agriculture Sector Optimization Model with Greenhouse Gases (FASOM-GHG), Global Timber Model (GTM), etc are being promoted. There are some trading already in place but those are selling and buying of the credits which doesn’t have much awareness.

Europe:

Currently, the European Union aims to be climate neutral by 2050; the decision was taken in January 2020 This decision is in retrospect to the Paris Agreement. The primary objective they are aiming for is to make sure that the temperature rise is not more than ~1.5°C.

How can Intelliblock Technologies help you:

Intelliblock is creating a platform where you could sell, buy and offset carbon credits. So using our platform we ensure a smooth transaction over blockchain; maintain security, help you make this world a better place for our coming generations, and even help some organizations to eliminate more CO2 from the environment by expanding their business.

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